British energy regulator announced that the energy price cap will be nearly doubled from October 1 for the next three months.
The cap is expected to be increased again in early 2023.
Germany’s economy minister echoed the sentiment, saying that energy prices are expected to increase sharply in the winter.
Germany’s GfK Consumer Climate fell to a record low in the September reading.
Eurozone’s July Private Sector Loans 4.5% yr/yr (expected 4.6%; last 4.6%)
Germany’s September GfK Consumer Climate -36.5 (expected -31.8; last -30.9)
France’s August Consumer Confidence 82 (expected 79; last 80)
Italy’s August Business Confidence 104.3 (expected 104.4; last 106.4) and Consumer Confidence 98.3 (expected 92.5; last 94.8)