Where inflation accelerated in November – and where it eased

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Where inflation accelerated in November – and where it eased
Author: Ian Jones
Published: Dec, 18 2024 10:57

The rise last month in the overall rate of inflation to 2.6% was driven by changes in the cost of petrol, train travel and live entertainment, along with everyday groceries such as margarine and eggs. But there were also examples of prices falling, including rice, pizza and cleaning equipment.

Image Credit: The Standard

Some of the biggest movements were seen in the cost of filling up at the pumps. While the average price of petrol fell in the year to November by 10.7%, this was a smaller drop than the fall of 13.6% in the year to October, according to figures published by the Office for National Statistics (ONS).

Diesel showed a similar trend, recording a drop in price of 11.6% in November, smaller than the fall of 14.2% in October, reflecting a rise in prices on forecourts in recent weeks. Examples where inflation has accelerated sharply include the cost of cinema, theatre and concert tickets, which jumped 9.7% in the 12 months to November compared with a rise of 3.0% in the year to October; cigarettes (up 12.3% in November, up 8.9% in October); butter (up 7.7% in November, up 5.4% in October); and eggs (up 3.9% in November, up 1.7% in October).

Another big factor in the overall rise in inflation last month was the cost of washing machines, dryers and dishwashers, which swung from a drop of 2.0% in the 12 months to October to a rise of 3.6% in the year to November. A handful of food staples also swung from negative to positive annual inflation: breakfast cereals, which saw average prices down 1.1% in the year to October then up 1.5% in November; cheese (down 0.6% in October, up 1.5% in November); and fresh fish (down 0.2% in October, up 1.2% in November).

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