Household energy prices continue their upward climb while petrol costs show a downward trend, according to a recent report from the Office for National Statistics (ONS).
The report, covering the period up to June 2023, highlights a persistent surge in gas and electricity prices, which have been contributing significantly to the overall inflation rate since April 2022.
Gas prices registered an increase of 36.2%, while electricity prices rose by 17.3% over the year.
This surge is attributed to price hikes in April and October 2022, following adjustments to the energy price cap by Ofgem.
In contrast, the report reveals a drop in petrol and diesel prices, which fell by 22.7% in the year leading up to June 2023, following a 13.1% decrease in May.
The data also sheds light on the impact of these cost fluctuations on household behaviour.
Around 51% of respondents surveyed between 26th July and 6th August, reported using less fuel – gas or electricity – at home due to the escalating cost of living.
