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UK inflation may rise by 18% next year A bank has warned that the cost of goods and services could increase to a high at this rate, raising the cost of living

Citi bank warned that average household energy bills could become almost half a grand higher as the weather cools.

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According to predictions made by investment bank Citi, escalating energy costs could raise UK inflation to 18% in 2013.

The Bank of England’s aim for inflation, the rate at which prices grow, is 2%, and it is now at 10.1%.

It happens before Friday’s announcement of the maximum amount suppliers can charge beginning in October.

Without any assistance from the government, Citi predicted that the price cap might reach £3,717 in October, £4,567 in January, and $5,816 in April.

The price cap is the most energy suppliers may charge customers in Wales, Scotland, and England per unit.