Household bills went up by almost £300 in the UK during 2017, according to new findings from comparethemarket.com.
Energy bills saw the most dramatic price increase – with the average now £1,625 – increasing by almost a fifth (17%) on last year’s figure (£1,383).
Overall, our research shows that the costs for energy, motor and home insurance rose by 13% over the past year, leaving consumers an average of £286 out of pocket.
Wales saw the biggest price increases over the past 12 months. Household bills soared by more than £500, with energy bills increasing by a whopping £458. In Scotland, bills have increased by 15%, rising to an all-time high of £2,317.87.
Reasons for the increased costs include changes to the personal injury discount rate (known as the Ogden Rate) in March, alongside hikes in Insurance Premium Tax (IPT) in 2016 and June of this year.