Soaring Energy Prices Add To Europe’s Inflation Woes

In Thursday’s daily, we noted how an increasing number of US households is struggling to pay their utility bills. Yet, this situation pales in comparison to the price hikes that European consumers are facing. As a case in point, the OFGEM, UK’s energy regulator, lifted the energy price cap to £3,549 as of 1 October (from £1,971), adding a warning that prices could get “significantly worse” through 2023. Indeed, yet another sharp move in European energy prices took benchmark rates to new record-highs. The 1 month…