The latest UK consumer price inflation measurements have come in from the Office for National Statistics (ONS), charting changing prices in the standard basket of consumer goods.
The data shows the price of tobacco has rocketed 99% since 2005, compared with only moderate increases in spirits, wine and beer. Technology items such as cameras and camcorders now cost around 90% less, while laptops, PCs and tablets cost 76.2% less.
The price of food has risen by over 130% since 2014, due to poor weather conditions and high oil prices for manufacturing and transportation, which increased the global prices of farmed food. In the UK this has caused a price war among the main retailers to keep prices low, customers happy and maintain competitiveness. This has been in line with global trends.
Below we outline the price increases in some of the core UK consumer goods.
Tobacco, spirits, wine and beer
The chart below shows how £100 worth of tobacco products in 2005 now costs £198.67. Comparitively, spirits, wine and beer registered an increase until 2013-2014, but have seen a drop in recent years.
With the introduction and the raise of tuition fees, the price of education has registered the highest increase among all the services and goods in the UK since 2005. Prices have now increased by 159%, with a sharp trend since 2012. This means that a cost of £100 in education in 2005, was £259.16 at the end of 2016.
Another good to have registered a considerable increase is gas. Following a small drop in the sector's growth in 2010, prices reached a peak in 2015 at 150% of the 2005 value, and then fell to +125% at the end of 2016. A £100 household bill in 2005, would now cost £224.58.
The cost of insurance services has also risen. Travel insurance is now 118% more expansive than in 2005, as well as health insurance rising 102%. What cost consumers £100 in car and travel insurance in 2005, has now risen to £217.70.
The only segment that has registered a decrease is technology. Cameras and camcorders have dropped 90% in price since 2005. What cost £100 in 2005, will now cost £10.37.