What’s behind the November inflation drop and which prices are still soaring
14 December 2022, 12:40
While food and energy remained painfully high, official figures showed there was some respite at the petrol pumps as well as on used car forecourts.
Britain’s rate of inflation eased back last month as prices rose at a slower pace in the year to November.
While food and energy remained painfully high, official figures showed some respite at the petrol pumps as well as on second-hand car forecourts.
The Office for National Statistics (ONS) data showed that petrol unchanged between October and November this year, at 163.6p a litre on average, but rising by 7.2p a litre a year earlier.
Diesel price increases also eased, rising by 4p a litre this year to 187.9p, compared with a larger rise of 7.4p a litre a year ago.
Second-hand car prices likewise helped CPI fall back, with a 5.8% drop in the year to November compared with a 2.7% fall in the year to October.
But in the face of soaring cost pressures, restaurants and pubs were forced to put up prices.
Inflation across restaurants and cafes jumped to 9.8% in November, up from 7.9% in October.
By far, food and energy remained the biggest driver of the cost-of-living crunch facing families.
Food and non-alcoholic drink inflation hit a high of more than 45 years last month, at 16.4%.
Inflation for food alone reached 16.6%.
Energy cost rises were the most eye watering, with electricity now 65.4% more expensive than a year earlier and gas rocketing up by 128.9%.
ONS chief economist Grant Fitzner said: “Although still at historically high levels, annual inflation eased slightly in November.
“Prices are still rising, but by less than this time last year, with the most notable example of this being motor fuels.
“Tobacco and clothing prices also rose, but again by less than we saw this time last year.
“This was partially offset by prices in restaurants, cafes and pubs, which went up this year compared to falling a year ago.”
The ONS added that tobacco prices rose by 0.1% month-on-month in November, compared with a 4.2% rise a year ago when duty rates increased as announced in the autumn 2021 Budget.
On an annual basis, tobacco and alcohol inflation stood at 4.2%, down from 6.2% in October.
Clothing and footwear saw a 7.5% annual increase on price tags, though this was down from 8.5% in October.
In recreation and culture, inflation eased back to 5.3% from 5.8% in October, largely as a result of price changes for computer games.
