'putting the increase down to' [= due to?]

lauren0187

Senior Member
Uk, english
Hi

In the following paragraph is it trying to say the increase is DUE to a further round of increases in gas bills?

Economists warned that prices could soon be set for another major rise. Alan Clarke of BNP Paribas said he expected CPI to rise back to 2.7pc by next September, putting the increase down to a further round of increases in gas bills.

Thanks in advance
 
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