Wed 19 October 2022:
Britain’s annual consumer inflation rate increased to 10.1% in September, up from 9.9% in August, official data showed on Wednesday.
The figure returned to July’s 40-year high due to rising food prices, the Office for National Statistics (ONS) said in a statement.
The prices of food and non-alcoholic beverages jumped 14.5% year-on-year in September, accelerating from 13.1% in August. The pace of hike had been the largest since April 1980.
The annual core inflation, excluding energy, food, alcohol, and tobacco, increased to 6.5% in September, an all-time high.
On a monthly basis, the UK’s consumer prices index rose by 0.5% in September.
ONS director of economic statistics Darren Morgan explaining the rise in inflation:
“After last month’s small fall, headline inflation returned to its high seen earlier in the summer.
The rise was driven by further increases across food, which saw its largest annual rise in over 40 years, while hotel prices also increased after falling this time last year.
“These rises were partially offset by continuing falls in the costs of petrol, with airline prices falling by more than usual for this time of year and second-hand car prices also rising less steeply than the large increases seen last year.
Food inflation in detail
Food prices jumped 14.8% over the last year, driven by staple goods such as bread and cereals (up 14.5% over the last year), pasta and couscous (+22.7%), meat (+15.3%), low-fat milk (+42.1%), butter (+28%) and eggs (+22.3%).
Fruit prices were up 8.8%, while potatoes cost 19.9% more,
Crisps rose 11.8%, while jams, marmalades and honey cost 28.1%.
Here’s a breakdown of the factors that drove UK inflation back to a 40-year high of 10.1% in September:
- Food and non-alcoholic beverages: 14.5% – up from 13.1% a month earlier
- Alcoholic beverages and tobacco: 5.5%
- Clothing and footwear: 8.5%
- Housing, water, electricity, gas and other fuels: 20.2%
- Furniture, household equipment and maintenance: 10.7%
- Health: 3.5%
- Transport: 10.6%
- Communication: 2.4%
- Recreation and culture: 5.2%
- Education: 4.3%
- Restaurants and hotels: 9.7% – up from 8.7% a month earlier
- Miscellaneous goods and services: 5.0%
However, Petrol prices fell by 8.7 pence per litre on average on the month to 166.5p, while diesel prices fell by 5.0p to 181.6p per litre.
That’s still around 25% higher than a year ago, but a slowdown on August when fuel inflation was 32.1%.
However, motoring groups have reported that fuel prices are climbing again this month:
SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES
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