Examples of where inflation eased or accelerated in September
The average cost of petrol and diesel fell faster year-on-year in September than it did in August. A sharp drop in the average cost of air travel helped drive a fall in September in the overall rate of UK inflation. For free real-time breaking news alerts sent straight to your inbox, sign up for our breaking news emails.
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, although 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 by 4.3% in August. Carpets and rugs were down 2.9% last month after rising 0.6% in August, and butter was down 0.2% after increasing by 0.9% in August.
Petrol and diesel both recorded a larger annual fall in price in September than in August. Petrol was down 10.9% last month compared to a drop of 4.2% in August, and diesel was down 9.9% compared to 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 to a fall of 0.8% in August) and crisps (down 2.2% in September, down 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.
There were 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).
Examples where inflation has eased, ranked by the size of the change, include passenger travel by air, olive oil, pizza & quiche, carpets & rugs, rice, women’s clothes, sugar, butter, crisps, men’s footwear, hotels & similar accommodation, ready-made meals, and bread.
Examples where inflation has accelerated include cleaning equipment, fruit & vegetable juices, children’s footwear, pasta & couscous, margarine & other vegetable fats, yoghurt, cheese & curd, coffee, tea, fresh or chilled fruit, breakfast cereals, and soft drinks.
It is essential to stay informed about the changing trends in inflation rates as they impact the cost of living and overall economy. Keep abreast of the latest developments in pricing across various sectors to make informed financial decisions for the future.