Spend calculator: See what prices have gone up or down – and how much warm clothes cost as winter approaches – MKFM 106.3FM
Prices have risen over the past 12 months by more than 10% on average, putting pressure on already stretched household budgets.
A further drop in fuel prices has lowered some costs for drivers, but rising food costs, caused in part by the energy crisis, have offset this.
Rising energy prices have far-reaching implications, in terms of increased production and delivery costs, which drive up the prices of almost every other product you buy.
Inflation climbs to 10.1% as economy reels from mini-budget chaos
How much have your individual expenses increased? Use our calculator to see the increase in the prices of groceries, clothing and leisure activities that you pay.
Which prices are rising fastest?
Food prices have really accelerated upwards in recent months, especially among dairy products.
Semi-skimmed milk costs 40% more than last year, two pints will cost you £1.18 on average now compared to 84p in September 2021, an increase of 34p. Margarine and butter both rose by more than a quarter.
However, eggs managed to stay around the same price as in 2021.
Children’s clothing is one of the goods purchased in stores whose prices have risen the most. They have increased by 15% on average, but some items have experienced even more extreme increases.
The price of a girls’ jacket has risen by more than 50% to £33.45 in September 2021, from £23.62 last year.
And it’s not good news for women either as winter approaches, as boots, tights and leggings have all risen by more than a quarter, while swimwear and tank tops are cheaper than this time last year.
The top five food price increases:
- Semi-skimmed milk (2 pints): up to 40%, 84p at £1.18
- Baked beans (400-425g): up to 34%, 66p to 89p
- Pasta/spaghetti (500g): up to 33%, 84p at £1.12
- Canned soup (390-425g): up to 31%, 81p at £1.06
- Chicken kyiv (2): up to 30%, from £1.97 to £2.56
There are foods that have become cheaper over the past year, but nothing more than a penny.
Overall, only 52 of the 524 products in our database are cheaper than this time last year.
The four food price cuts:
- Corn snack (50g): 73p to 72p
- Bag of rice (220-280g): 94p to 93p
- Peanuts (150-300g): £1.41-£1.40
- Large eggs (12): £2.48 to £2.47
Other items have further reduced in price. A pan is around 25% cheaper on average (£12.94 today vs £17.18 in 2021).
Unsurprisingly, people aren’t paying much for DVDs these days, just £8.69 on average compared to £12.80 this time last year.
Football boots are down 17% to £54 and golf balls are around 20p cheaper.
However, no category out of 25 saw an overall price drop for all items. Clothing is the closest with an increase of 0.8% on average.
Is it more expensive to live a healthy life?
Vegetables have become 11% more expensive over the past year, while fruit has increased by 9%. This is slower than the meat rate, which increased by almost 14%.
Alcohol rose only 4% on average, less than half the rate of other beverages.
However, you will notice more of a difference if you like to drink. The average pint of lager in a pub is 36p more than last year, an increase of 8.6%.
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 every 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 select 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 pricing information is more heavily weighted. 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.
(c) Sky News 2022: Spending Calculator: See what prices have gone up or down – and how much warmer clothes cost as we learn