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Inflation drops: What got cheaper and what cost more in September

From fish to hotels

Ian Jones
Wednesday 16 October 2024 08:04 EDT
The inflation rate fell in September to its lowest since 2021 (Victoria Jones/PA)
The inflation rate fell in September to its lowest since 2021 (Victoria Jones/PA) (PA Wire)

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A drop 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).

How the UK inflation rate has changed (PA Graphics)
How the UK inflation rate has changed (PA Graphics) (PA Graphics)

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.

A sharp drop in the average cost of air travel helped drive a fall in September in the overall rate of UK inflation (Owen Humphreys/PA)
A sharp drop in the average cost of air travel helped drive a fall in September in the overall rate of UK inflation (Owen Humphreys/PA) (PA Wire)

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%

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).

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