Consumers around the world are feeling the pinch as inflation bites. And it’s not just at the grocery store. Prices are going up across the board. A key factor driving this rampant inflation is the cost of energy, which impacts all industries and translates into even higher prices for the average consumer.
A global surge in wholesale power and gas prices means households across Europe face higher energy bills this year and beyond. In the worst-case scenario, many of the region’s most vulnerable are facing fuel poverty according to consumer groups. Prices started to rise above historical levels last September and have soared further this year.
