UK inflation soars to 10-year high of 5.1% as cost of living squeeze tightens – business live | Business

Digging into today’s inflation data, its clear that prices have risen across the board in the last 12 month, although there are some exceptions.

Food prices have risen 2.4% per year, including a 5.1% rise in ‘beef and veal’, a 6.9% leap in ‘lamb and goat’, a 5.7% rise in whole milk, and a 8.9% jump in butter prices. Fruit rose 4.5%, while yoghurt rose 6.7%.

Crisps are up 7.3%, while ice-cream and edible ice prices have risen 9.1%.

But flour and other cereals fell 10.3%, pizza and quiche prices are down 7.6% on a year ago, and pasta and couscous was 5.2% lower — all staple items during last November’s lockdown.

Among alcohol products, wine rose 3.3%, including fortified wines which jumped 8.3%, while beer rose 2%.

Tobacco prices were up 6.8%, following tax increases.

Clothing prices jumped 3.8%, with infant and children’s garments costing 4.8% more than a year ago.

Households have also faced a 13.7% increase in the cost of materials for repairs, and a 23.2% surge in energy costs after the price cap was lifted.

Household furniture has jumped by 12.2%, with carpets and rugs costing 6.5% more.

Household appliances have also become pricier, with refrigerators, freezers and fridge-freezer prices jumping 10.3%, washing machines, tumbledriers and dishwashers up 8.3%, and cookers costing 4.5% more.

In transport, used-car prices rocketed by 27.1% (details here), new cars rose 3.6%, and bicycles are 15% more expensive than a year ago.

Motorists also saw inflation at the pumps, with diesel up 27.5% and petrol costing 29.5% more, as prices hit record levels.

Railway journeys cost 4.8% more, while air travel was 14.1% more expensive, following the easing of travel restrictions.

Within recreation, games, toys and hobby prices rose by 3.7%, while camping equipment costs 14.5% more than a year ago, and garden products rose 12.7%.

Pets are 3% cheaper, but products for our furry and feathered friends cost 4% more.

Going out costs more too — with cinemas, theatres, concert visits costing 13.6% more, while attending recreational and sporting events is 8.4% more expensive.

Book prices have risen by 5.5% (with fiction costing 12.7% more).

Within catering, restaurants and cafes will set you back 4.2% more than in November 2020, while canteens are 9.4% pricier (demand will have been lower in last year’s lockdown).

Accommodation services costs have risen by 8.3%, as hotels, hostels and campsites have reopened after the lockdown earlier this year. It was led by a 17.5% jump in prices at holiday centres, camping sites and youth hostels.

Hairdressing prices for women have risen 3.9%, although only by 3.3% for men and children.

Jewellery prices have risen 2.7%, while repairing jewellery, clocks and watches will cost 7.5% more.

But insurance bills have dropped by 1.9%, led by a 6.7% fall in house contents insurance (although health insurance is up 6.2%). And the charges set by banks and post offices are down 2.4% over the last year.