Wednesday, October 16, 2024

Examples of where inflation eased or accelerated in September

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The drop last month in the overall rate of inflation to 1.7% was driven by large changes in the cost of air travel, fuel and household staples such as pizza and rice – though some items saw prices continuing to rise.

The biggest movement was in the average cost of passenger travel by plane, which fell by 5.0% in the year to September, having previously jumped sharply by 11.9% in the 12 months to August.

Other products seeing a switch from rising to falling prices include pizzas and quiches, the cost of which dropped by 3.3% in the 12 months to September after increasing 4.3% in August; carpets and rugs, down 2.9% last month after rising 0.6% in August, and butter, down 0.2% after increasing 0.9% in August.

Petrol and diesel both recorded a larger annual fall in price in September than in August, with petrol down 10.9% last month compared with a drop of 4.2% in August, and diesel down 9.9% compared with a drop of 2.2%, according to figures published by the Office for National Statistics (ONS).

A similar trend was seen in a handful of everyday household goods, with the average cost of rice falling more steeply in September (down 3.9%) than in August (down 2.3%), as did the cost of bed linen (a drop of 2.2% in September compared with a fall of 0.8% in August) and crisps (-2.2% in September, -1.1% in August).

By contrast, some items saw prices falling less slowly last month than in August, most notably cheese, the average cost of which dropped 1.2% in the year to September, having enjoyed a much larger decrease of 4.7% in the 12 months to August.

The price of fish was down 1.6% in September, a smaller annual drop than 3.0% in August, and it was a similar story for the average cost of second-hand cars (down 6.3% last month after falling 6.6% in August) and women’s shoes (down 2.4% in September, down 2.6% in August).

A few items swung from negative to positive inflation, such as cleaning equipment, where prices rose last month by 4.3% having fallen in August by 3.3%; fruit and vegetable juices, up 4.4% last month after a drop of 0.4% in August; and children’s footwear, up 3.7% in September following a drop of 1.1% in August.

There were also instances of inflation accelerating, including the average price of coffee (up 4.1% in the year to September, up 1.2% in the year to August); tea (up 6.2% last month, up 3.5% in August); and breakfast cereals (up 2.8% last month, up 1.3% in August).

Below is a list of examples of how the Consumer Prices Index (CPI) inflation rate has either eased or accelerated.

Two figures are listed for each item: the average rise in price in the 12 months to August, followed by the average rise in price in the 12 months to September.

– Examples where inflation has eased, ranked by the size of the change:

Passenger travel by air: August up 11.9%, September down 5.0%Olive oil: Aug up 40.8%, Sep up 33.0%Pizza & quiche: Aug up 4.3%, Sep down 3.3%Carpets & rugs: Aug up 0.6%, Sep down 2.9%Rice: Aug down 2.3%, Sep down 3.9%Women’s clothes: Aug up 3.9%, Sep up 2.4%Sugar: Aug up 5.8%, Sep up 4.4%Butter: Aug up 0.9%, Sep down 0.2%Crisps: Aug down 1.1%, Sep down 2.2%Men’s footwear: Aug up 0.6%, Sep down 0.3%Hotels & similar accommodation: Aug up 3.1%, Sep up 2.2%Ready-made meals: Aug up 2.1%, Sep up 1.4%Bread: Aug up 2.2%, Sep up 1.6%

– Examples where inflation has accelerated:

Cleaning equipment: August down 3.3%, September up 4.3%Fruit & vegetable juices: Aug down 0.4%, Sep up 4.4%Children’s footwear: Aug down 1.1%, Sep up 3.7%Pasta & couscous: Aug down 3.8%, Sep up 0.9%Margarine & other vegetable fats: Aug down 2.6%, Sep up 1.7%Yoghurt: Aug down 3.1%, Sep up 0.9%Cheese & curd: Aug down 4.7%, Sep down 1.2%Coffee: Aug up 1.2%, Sep up 4.1%Tea: Aug up 3.5%, Sep up 6.2%Fresh or chilled fruit: Aug up 1.8%, Sep up 3.8%Breakfast cereals: Aug up 1.3%, Sep up 2.8%Soft drinks: Aug up 1.5%, Sep up 2.9%Passenger travel by train: Aug up 2.2%, Sep up 3.1%

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