As of Wednesday, September 14, inflation in the UK was at 9.9%, according to figures released by the Office for National Statistics. This simply means that prices of goods and services have gone up this much on average compared to last year. But analysing the figures, The Mirror found that the prices of some items are actually dropping.
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When inflation is high, they go low
The prices of some items dropped below the average rate, a situation the ONS said was due to a fall in petrol and diesel prices. Food, drinks and clothing were not impacted by the change in fuel prices. In fact, they became more expensive as inflation continues to rise.
But if you enjoy reading or camping, you will find that the cost of pursuing these hobbies has actually dropped. The Mirror crunched the numbers and found that these 10 items are going for less.
- E-books - 15.8% fall
- HiFi equipment - 13.2% fall
- Recording media - 9.3% fall
- Camping gear - 8.6% fall
- PCs - 7.3% fall
- Non-fiction books - 7% fall
The others include TV and film equipment, software, computer equipment and mobile telephone gear.
Predictions
Like many countries in the world, the UK’s economy has been badly hit by the spike in European natural gas prices brought on by Russia’s invasion of Ukraine as well as post-Covid supply change hurdles. Labour shortages have also contributed to the difficult economic landscape that Britain is in now.
According to Reuters, Britain's inflation is the highest in the G7 group of big advanced economies. The Bank of England explained:
Economies around the world, including in the UK, opened up after Covid restrictions eased. And then people naturally wanted to start buying things again. But businesses selling some of those things couldn’t get enough of them to their customers. This caused prices to rise - especially for goods coming from abroad.
Read more:
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⋙ Scams on the rise amid cost-of-living crisis: Here’s what to look out for
⋙ Vladimir Putin blamed for cost-of-living crisis: 'He likes it. And he wants us to buckle'
