Inflation: How much more is your shopping REALLY costing?
Inflation is at its highest for 40 years, but what does that mean in reality?
Last updated 19th Oct 2022
Inflation went up to a 40 year high today, but what does it mean and how much more are things costing us when we do a shop?
You've probably noticed the weekly shop costs more than it used to and today the official inflation figure was announced as 10.1%.
The inflation rate tracks how much items cost - so the higher the number, the more it costs to buy things, including food, power and petrol.
The stats show that food prices have gone up considerably - leaping by 14.5% compared with the same month last year.
But how much more are we paying for the everyday basics costing compared to last year?
Cost of basic items compared to a year ago
Milk
The inflation statistics that came out in October 22 show us just how much more individual items are costing. Whole milk has gone up 30.2% compared to a year ago. The low-fat version has gone up even more - 42.1%.
Coffee and Tea
Thinking of a black coffee after the cost of milk? There's not great news here either. Coffee has gone up 15.4% in a year and the price of tea has increased by 12.1% too.
Bread
It seems all the basics have gone up, bread is 14.6% more expensive year-on-year.
Butter
Buttering your toast costs more too - margarine has increased by 30%, butter by 28%.
Cheese
What about cheese on toast? Well, cheese has also gone up 23.1% compared to a year ago.
Potatoes
Potatoes are up 19.9%.
Eggs
Eggs have increased by 22.3%.
Pasta
Pasta has gone up 22.7% in 12 months.
Electricity
And it's not just what we're eating that's pushed inflation up, the cost of electricity has gone up 54% compared to a year ago.
Gas
Gas has gone up even more than electricity in percentage terms - a 95.7% increase year-on-year.
Ready Meals
And if all of this is making you think that ready meals might be a cheaper option than cooking from scratch - they've gone up too, by 19%.
Petrol & Diesel
And this one we could probably all have predicted - Petrol is up 23.4% and diesel 32.2% compared to this time last year.
Response from the government
New Chancellor Jeremy Hunt said on Wednesday he would prioritise help for the vulnerable after the inflation increase was revealed.
Mr Hunt said: “I understand that families across the country are struggling with rising prices and higher energy bills.
“This Government will prioritise help for the most vulnerable while delivering wider economic stability and driving long-term growth that will help everyone.
“We have acted decisively to protect households and businesses from significant rises in their energy bills this winter, with the Government’s energy price guarantee holding down peak inflation.”
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