Consumer energy bills 'still to fully reflect rise in wholesale gas prices'          

Wholesale gas prices have soared in Europe since Russia invaded Ukraine in February, helping to trigger the worst cost-of-living crisis and potential economic crises since the 1970s. 

The huge spike in wholesale gas prices has still fully to be passed on to the utility bills for households and businesses, and the inflation shock will last longer than expected despite the best efforts of governments, a major report has warned.  

Fitch Ratings, in an economic research bulletin called 'Gas Prices Unleash Huge Inflation Shock on Eurozone', said consumer energy prices have yet to fully reflect the rise in the wholesale gas prices.