UK faces ‘grim winter’ with households already paying £442 extra in bills

Analysts warn cost of living crisis is gathering pace amid fast rises in petrol, food and energy bills

• Watch out for hidden shrinkflation' price hikes, analysts warn
• Rising inflation could trigger global sell-off that would harm UK'

Households face a plain grim" outlook as higher energy bills and petrol prices force them to find at least 442 extra to get through the winter, according to an analysis.

While Boris Johnson used his conference speech to trumpet the UK's future as a high-wage, high-skilled economy, Kevin Brown, a savings expert at the investment firm Scottish Friendly, accused the prime minister of failing to account for an alarmingly fast-paced cost of living crisis".