the latest headlines. dire warnings of more severe flooding in northern pakistan as it suffers its heaviest monsoon rains in decades. the usjustice department releases a heavily redacted version of the document it used to obtain a search warrant for donald trump s florida home. soaring prices are infliciting pain and hardship around the world. the chair of america s central bank, jerome powell, has warned that fighting the fastest rise in prices in nearly four decades will be painful to households and businesses. in britain, it s been confirmed that energy bills will soar by 80% in october for tens of millions of people, causing real hardship for many who are already coping with a steep rise in the cost of living. the bbc s business editor simonjack reports.
emergency grants to help companies that are struggling. the upper limit of what suppliers can charge per unit of energy in england, scotland and wales the energy price cap is set to be announced tomorrow. less than a year ago, a typical annual home energy bill was about £1,200. it s now about £2,000 and it s forecast tomorrow to reach £3,500 per year, payable from this october. there are further increases expected in january. back in may, the government promised a £15 billion support package for households, but critics say this is not enough and that it doesn t cover businesses. our business editor, simonjack reports. making the daily bread takes a lot of energy. kneading machines and, of course, ovens are power hungry and this bakery in suffolk is bracing itself for a crippling rise in bills when its current commercial deal ends. it s a threat many businesses are facing.
the announcement sets the upper limit of what suppliers can charge per unit of energy in england, scotland and wales, known as the energy price cap. pressure has been building on the government for action to help households and businesses cope with calls from a think tank for a universal 30% cut in bills and businesses saying ministers should bring in covid style emergency grants to help firms. look at how things have changed injust 12 months. less than a year ago, a typical annual home energy bill was about £1,200. it s now about £2,000 and it s forecast tomorrow to reach £3,600 per year and there are further increases expected in january. back in may, the government promised a £15 billion support package for households, but critics say this is not enough and that it doesn t cover businesses. our business editor, simonjack reports. making the daily bread takes a lot of energy.