Inflation: Prices of everyday items rise in supermarkets

jump Headline inflation was 2.2% in July This phenomenon is caused by the rise in prices of a series of daily necessities, as well as the Serve The decline is not as rapid as in June.

The increase was driven by changes in domestic fuel prices.

The average cost of natural gas for households fell 22.8% through July, a much slower drop than the 37.5% drop through June.

Electricity costs showed a similar trend, falling 19.5% in July this year, compared with a 21.0% drop in June last year.

Inflation rates for some commodities have accelerated.

These include:

The average price of tea rose 8.4% in the year to July, compared with a 6.8% increase in the year to June.

Chocolate (up 6.7% in July, up 5.3% in June)

Ice cream (up 4.3% in July, up 2.7% in June)

Fruit (up 2.7% in July, up 1.6% in June)

According to data released by the Office for National Statistics (ONS), womenswear prices rose 2.6% in July, following a 1.8% increase in June.

Children’s footwear prices fell 0.2 per cent in the 12 months to June but rose 2.9 per cent in the year to July.

As of July, the decline in prices of other commodities slowed from the previous month, which also had an impact on the overall inflation increase.

For example, low-fat milk prices fell 0.4% in July after a larger drop of 2.8% in June; margarine and other vegetable fats fell 2.1% in July after a 3.8% drop in June; whole milk fell 1.0% in July after a 6.8% drop in June; pasta and couscous fell 2.6% in July after a 3.6% drop in June; and used cars fell 8.4% in July after a 9.8% drop in June.

In contrast, the latest data showed that inflation rates for some commodities have slowed down.

Average prices for hotels, motels and similar accommodation slowed sharply, rising just 3.2% in July after a much larger 9.9% increase in June.

The cost of taking a bus or coach rose 6.2% in the year to July, compared with a 9.6% increase in the year to June, while the price of cinema, theatre and concert tickets rose 4.4% in July, compared with a 7.4% increase in June.

Grocery items where inflation slowed included potato chips, which rose 0.6 per cent in the 12 months to July, compared with a 2.6 per cent rise in June; coffee (up 0.1% in July and 1.9% in June); pizza and quiche (up 0.8% in July and 1.8% in June); eggs (up 1.4% in July and 2.3% in June); bread (up 1.1% in July and 1.6% in June).

There were also a few items where inflation rates turned from positive to negative, with the average price of fruit and vegetable juices falling 1.3% in July after rising 4.5% in the year to June; the price of tablecloths and bathroom towels fell 2.5% in July after rising 2.0% in the year to June; and the price of sports equipment fell 0.2% in July after rising 1.0% in the year to June.

Meanwhile, average prices for cheese and curd fell faster in the year to July (down 4.3%) than in the year to June (down 3.1%), as did prices for rice (down 2.7% in July, down 1.9% in June), fish (down 4.2% in July, down 2.1% in June) and air passenger transport (down 10.4% in July, down 0.9% in June) than in the year to June (down 3.1%).

Below is a list of examples of when the Consumer Price Index (CPI) inflation rate has slowed or accelerated.

Two figures are listed for each item: the average price increase in the 12 months ending in June, and the average price increase in the 12 months ending in July.

Examples of slowing inflation (in order of magnitude of change):

Hotels, motels and similar accommodations: up 9.9% in June, up 3.2% in July

Olive oil: up 43.8% in June, up 37.5% in July

Fruit and vegetable juice: up 4.5% in June, down 1.3% in July

Bus and coach transport: 9.6% in June, 6.2% in July

Cinemas, theaters, concerts: 7.4% in June, 4.4% in July

Fish: down 2.1% in June, down 4.2% in July

Dried vegetables: down 2.7% in June and 4.7% in July

Potato chips: up 2.6% in June, up 0.6% in July

Coffee: Up 1.9% in June, up 0.1% in July

Cheese and curd: down 3.1% in June, down 4.3% in July

Gasoline: Up 1.9% in June, up 0.8% in July

Pizza and quiche: Up 1.8% in June, up 0.8% in July

Eggs: up 2.3% in June, up 1.4% in July

Potatoes: up 6.0% in June and 5.4% in July

Examples of accelerating inflation:

Children’s footwear: down 0.2% in June, up 2.9% in July

Yogurt: up 0.5% in June, up 2.8% in July

Tea: Up 6.8% in June, up 8.4% in July

Edible ice and ice cream: up 2.7% in June and 4.3% in July

Chocolate: Up 5.3% in June and 6.7% in June

Fruit: up 1.6% in June, up 2.7% in July

Mineral or spring water: up 4.2% in June and 5.2% in July

Women’s clothing: up 1.8% in June, up 2.6% in July

Ready-to-eat foods: up 3.6% in June, up 4.2% in July