Rolling coverage of the latest economic and financial news

• Average annual energy bill to rise to £1,738 in Great Britain from January
• What is the energy price cap and can I cut my bill?

The pound has dropped to a six-month low against the US dollar, after this morning’s weaker-than-expected retail sales report.

Sterling fell as low as $1.255, its weakest level since 14 May, extending recent losses as economic worries have risen.