1 April: How will the price rises affect you?
Below, YourMoney.com rounds up 10 of the price rises which may affect you from today onwards.
1) Council tax bills
These are set to go up by as much as 4% in England and Wales.
2) Water bills
These are set to increase by £2 (1%) to £389 for the average household. See YourMoney.com’s Five tips to reduce your water bills.
3) Prescription costs
This will go up by 20p from £8.20 to £8.40, a 2.44% increase.
4) Dental charge
Going for an NHS check-up will increase by 80p (5%) to £19.70.
5) First-class stamps
The price has risen from 63p to 64p already this week and the price of a second-class stamp has gone up to 55p. Posting a small parcel will also cost more, up from £3.30 to £3.35.
6) Stamp duty hike for buy to let investors
The 3% surcharge means the cost of the tax will increase by an average of £5,911 when buying a house in the UK, or up to £13,686 on London property purchases. See YourMoney.com’s Buy to Let tax changes explained guide for more information.
7) Three price rise on monthly mobile contracts
Three customers on ‘legacy’ plans priced at £15 will see their bills increase by 100% to £30 from April. All other Three customers will see their bills go up by 1.3% this year (the exact date will vary on your billing date), the same as the February Retail Prices Index measurement of inflation.
8) O2 price rise on monthly mobile contracts
More than 10 million O2 customers will see their bills increase from April (the exact date will vary on your billing date). Tariffs are going up by 1.3% this year, the same as the February Retail Prices Index measurement of inflation, a rise of between 22p and 65p per month – depending on what tariff you’re on.
9) EE price rise on monthly mobile contracts
Millions of EE pay monthly customers will see their bills increase from April (the exact date will vary on your billing date). It’s going up by 1.3% this year, the same as the February Retail Prices Index measurement of inflation.
10) Air Passenger Duty
The cost of air passenger duty (APD) on a long haul flight is set to go up by almost 3%. APD on economy flights will increase from £71 to £73 and from £142 to £146 for those travelling in all other classes.
Hannah Maundrell, editor in chief of money.co.uk, a financial comparison site, said; “While we normally associate 1 April with the impending start of the new tax year, it seems to have become national price hike day. The majority of the price hikes seem pretty small, many as low as 1%. However, all these small hikes add up and lead to fewer pounds in your pocket.
“It feels as though all the media hype about low mortgage rates and low inflation is leading people into a false sense of security. Whilst we can’t avoid things like the increase in the cost of postage and NHS charges, we can control the cost of many other things we spend money on – like our phone or digital TV contracts.”