NEWS from the Bank of England that inflation is expected to hit five per cent due to higher utility bills, the National Insulation Association has advised householders to act now.

They have been urged to insulate their properties to help combat the economic strain higher bills can create.

The bank’s inflation report stated that gas prices may rise by 15 per cent and electricity prices by 10 per cent this winter.

Analysts are also warning that fuel bills could rise again this winter.

With the average domestic fuel bill already more than £1000 per year, the NIA advised that by insulating the loft and cavity walls, householders could save around £255 per year.

The savings are more for insulating solid walls and lofts, at around £520 per year.

Neil Marshall, chief executive of the NIA, commented: “Home insulation is the single most effective method of saving money on domestic energy bills, with savings continuing year on year.

“Householders should find out what financial assistance they are entitled to from the wide range of subsidies and grants available.

“These can significantly reduce the cost of improving home energy efficiency via insulation of walls, lofts and draught proofing.

“Additionally, those receiving benefits and people aged 70 and over could even qualify to have their home insulated for free.”