Prices have risen faster in the past 12 months than at any time in the previous 30 years, putting pressure on already strained household budgets.
the latest increases were driven by rising energy and fuel costs for households. But how much have your individual expenses increased over the past five years?
Use our new calculator to see how much the groceries, clothing and leisure activities you buy will increase in price.
Which prices are rising fastest?
Food prices have gone up, but you won’t notice the fastest price increases at the supermarket.
Prices for goods, such as clothing, rose the most. Women’s clothing now costs a third more than in 2017, while prices for men’s clothing are up more than 25%.
The bikes cost £200 more than five years ago, an increase of nearly two-thirds.
Services have also become much more expensive. Takeout is on average 20% more expensive than five years ago.
Some things got cheaper, like potatoes and washing up liquid, but most items went up in price.
More than four-fifths of the items in our database are more expensive than they were in 2017.
Is it more expensive to live a healthy life?
People who follow a plant-based diet may experience the pinch more than meat eaters. Vegetable prices have increased by 9.8% on average since 2017, compared to only 2.8% for meat products.
Alcohol only increased by 5.7% on average. However, you’ll notice more of a difference if you like to drink, as alcoholic drinks in pubs and restaurants now cost 11.6% more than in 2017.
Is there worse to come?
Richard Lim, managing director of Retail Economics, says we’re still on the “cutting edge of inflation”.
“There’s still a lot of pain to come,” he says. “And it’s the poorer households that are going to experience much higher rates of inflation because they spend more of their income on food and energy.”
We’ll continue to update our expense calculator over the coming months so you can see how you’ll be affected.
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The ONS collects these prices by visiting thousands of stores across the country and noting the prices of specific items. More than 100,000 prices are published each month, from more than 600 products.
The items that make up the “official shopping cart” change each year to reflect the changing shopping habits of the population. For example, in March 2021, after a year of the pandemic, hand gel, loungewear bottoms and dumbbells were added, while canteen-bought sandwiches were among the items removed.
Where there are not the exact equivalent items available in a survey store, ONS officials choose the best alternative and note that they have so that it is weighted correctly when the averages are calculated.
The stores are also weighted, so the price in a large supermarket chain will have a greater impact on the average than in an independent neighborhood store.
To get our numbers, we averaged each item for each month that takes into account those stores’ weights and the month of entry, so the most recent price information is weighted more heavily. We have come up with a figure that takes into account every price entry from the previous 12 months. We will update these numbers monthly as the cost of living crisis continues.
During the pandemic, more of the inquiry has been done over the phone and work is underway to digitize the system so that more prices can be entered by obtaining data from supermarket receipts, rather than making personal visits.
Datajournalists: Daniel Dunford, Amy Borrett
Interactive: Ganesh Rao
Design: Phoebe Rowe, Brian Gillingham
the Data and forensics The team is a versatile unit dedicated to delivering transparent Sky News journalism. We collect, analyze and visualize data to tell data-driven stories. We combine traditional reporting skills with advanced analysis of satellite imagery, social media and other open source information. Through multimedia storytelling, we aim to better explain the world while showing how our journalism is done.