25 things that have gone up in price way more than inflation in the UK
Daniel Coughlin
15 May 2018
Goods and services that are a lot more expensive in 2018
From council tax and flights, to Prosecco and computer hardware, many products and services have surged in price over the past 12 months, well above the UK's current rate of inflation, which stands at 2.3%. We reveal the 25 things people are paying through the nose for in 2018.
Train fares: 3.4%
Since 1995, some UK train fares have risen more than three times the rate of inflation, though season tickets have remained more or less on a par. At the start of this year, fares increased by an average of 3.4%, the largest increase for five years.
Air passenger duty: 4%
Travelling long haul this year? You'll be paying extra on air passenger duty. The government has raised the levy by an inflation-busting 4%, bumping up the cost of long haul flights and package holidays.
NHS dental treatments: 5%
NHS dental costs have risen by an average of 5% this year. The checkup fee is up from £20.60 to £21.60 and a band 2 treatment (such as fillings and removals) is now £59.10, an increase of £2.80. Band 3 treatments (crowns and bridges) are now charged at £256.50, a rise of £12.20 from last year.
Council tax: up to 5.1%
In April, the biggest council tax rises in 14 years kicked in, with band D property owners and tenants facing the largest increase, up 5.1% on the previous year, adding an extra £81 to their annual bill. The additional revenue will help cover spiralling social care costs.
Gas: up to 5.5%
Last month, British Gas announced a hefty price hike affecting 4.1 million UK households, blaming rising wholesale prices and green subsidies. Bills will go up 5.5%, or about £60 a year for the typical customer. Competing energy companies are likely to follow suit with similar rises.
Rents in Scotland: 5.6%
According to the HomeLet Rental Index, rents increased just 0.9% on average in the UK as a whole during the past year, but Scotland is bucking the trend on account of a shortage of lettings. North of the border, rents have gone up by an average of 5.6% since May 2017.
Weddings: 6%
Weddings website Bridebook reports that the typical UK wedding now costs £17,913, a rise of 5% from last year's figure, which was £16,842. Higher supplier costs and the trend for two and three-day weddings and multiple-event nuptials are pushing prices through the roof.
Gold: 6.7%
The traditional safe-haven asset has gained in price by an impressive 6.7% over the past year, almost triple the current rate of inflation in the UK. An ounce of the precious metal now costs £959, up from £899 in May 2017.
Electricity: up to 7.5%
The UK's electricity providers are feeling the pinch from higher wholesale prices and renewable energy subsidies. Needless to say, customers are footing the bill. Opus Energy for instance has increased prices by 7.5%.
Car leasing: 9%
Leasing your car? You may want to think about buying a vehicle outright. Research by accountancy group UHY Hacker Young has revealed the monthly cost of leasing a car in the UK has risen 9% in the past year due to Brexit and the weakened pound.
Broadband: up to 9.1%
Several of the leading UK ISPs have raised prices considerably above the current inflation rate. Post Office Broadband customers that are signed up to the Essential package are paying an additional 8%, while Sky Broadband has whacked a 9.1% increase on its line rental charges.
Sugary soft drinks: up to 11%
The sugar tax came into force on April 6, and the price of a can of sugary soft drink jumped around 11% overnight. The tax, which has been implemented to help combat rising levels of obesity and tooth decay, adds 8p to a can of Coca-Cola and similar sugar-loaded soft drinks.
Houmous: 12%
In February, The Grocer magazine announced the price of houmous had risen by 12% in the UK over the past year. India, which is the world's leading chickpea exporter, has been plagued by poor harvests several seasons on the trot, bumping up global prices of the legume-based dip.
Van insurance premiums: 13.3%
Van drivers are forking out more money for their insurance this year. New research from Consumer Intelligence found premiums have inflated by an average of 13.3% in 2018 to reflect an increase in injury claims and higher repair costs.
Building materials: up to 16%
The construction industry is grappling with big increases in the price of basic building materials this year caused by the weakened post-Brexit pound and soaring demand. Roof tiles are 8% more pricey, brick prices are up 9% and insulation costs an additional 16% in 2018.
House prices in the North West: up to 16.4%
While prime London property prices have fallen by up to 15% over the past year, homeowners in the North West of England have seen the value of their property increase by up to 16.4%. Prices in the region are expected to rise faster than anywhere else in the UK over the next five years.
Prosecco: up to 30%
Bad news for fizz fans: the wholesale price of Prosecco is set to catapult by up to 30% this year due to a shortage of the sparkling wine. Italy's Prosecco-producing regions of Veneto and Friuli Venezia Giulia were affected by severe frost last spring, which destroyed up to half the grape harvest.
Flights: up to 30%
Short and long haul airlines have increased fares in price by up to 30% since this time last year, according to travel search engine Kayak. The culprit? The rising price of oil, which is hitting fuel-guzzling airlines where it hurts.
Bus fares: up to 32%
Several regional bus companies have jacked up fares well above the rate inflation this year, including firms in Oxford and Brighton, but bus passengers in Worcestershire are dealing with the steepest rises, with some First UK fares increasing by 32%.
Crude oil: 44%
Over the past year, the price of oil has risen by 44%, fuelled by increasing global demand and a slowdown in supply from the Organization of the Petroleum Exporting Countries (OPEC). Brent crude is trading at £54.35 right now, up from £37.86 this time last year.
Vanilla: 43%
Catastrophic crop failures and rampant theft of harvested pods in Madagascar, which produces 80% of the world's vanilla, have led to a worldwide shortage of the spice and price increases of 43% in the past year. Weight for weight, vanilla pods are now more expensive than gold.
Butter: 45%
Butter has skyrocketed in price since 2016. Wholesale prices have almost tripled, rising 45% in the past year alone. A shortage of the dairy product precipitated by falling exports and higher animal feed prices, coupled with increasing demand from China, is behind the massive rise.
Cheap booze in Scotland: up to 200%
Dirt-cheap booze has got a whole lot more expensive in Scotland since the minimum alcohol pricing law came into effect on May 1. The minimum 50p per unit cost means a two-litre bottle of cider that could be snapped up for £2.50 before May 1 is now £7.50 or more.
Graphics processing units: up to 300%
Frustrating the world's gamers no-end, the explosion in cryptocurrency mining has pushed up prices of graphics processing units (GPUs) by a whopping 300% in the past year. Tech companies are still struggling to meet the enormous increase in demand.
Diesel car tax: up to 320%
Drivers of diesel-powered vehicles may wish they'd plumped for an electric model if the recent car tax hike is anything to go by. Drivers of the highest polluting diesel vehicles are the most affected, with the heftiest increase of 320% slapped on new band two diesel cars.
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