Financial figures collated from across the UK have indicated what we have long suspected to happen-the cost of living is rising fast. Multiple varieties of items have seen their prices and services exceeding in value, especially in recent weeks. While the reasons for inflation differ for each item, these are some of the most commonly used necessities within the UK, and their reasons for inflating prices.
Other areas within the UK that are seeing inflation, but not in cost, more rather in the number of people interacting with such services, is the gambling industry. Within last year alone, gambling outlets have surged in activity by 25%. From the casino industry, to sports betting, it is very understandable, since a majority of people are reporting more screen time within the past year alone. Therefore, if you, also one of these people, we have provided a Guide to Betting on Ice Hockey, to ready you for the approaching ice hockey season.
Uber Fares
In regard to the first most commonly used resource within the UK, ready yourself for a surge in fare prices. It is reported that the base price of Ubers will increase by 10%, to accommodate for the all-time low numbers of taxi drivers within the region of London. Due to the pandemic, many taxi drivers became redundant with more people being forced to stay at home. Now Uber is reportedly hoping to entice more and more drivers with an increase in their base fare prices, to accommodate for Christmas shoppers and general increase of population within the city around the festive season.
Additionally, the cost of fuel is also another reason that must be factored into the equation. Fuel within the UK has reached an all-time high of 150p per litre, meaning now a family car that operates on a 55 litre, will cost £80 for a full fuel tank, which is the highest it has ever been in years.
Savoury snacks
We all know how snacks are a vital necessity for Netflixing on the weekends. However, unfortunately prices for snacks such as Doritos, Pringles amongst other confectioneries, went up by 7.6% in the space of 12 weeks. By the end of October, around Halloween, data saw a straight increase across all retailers. The reason? The pandemic and struggles of many retailers to stay afloat.
Your Heating Bill
Yes, this one unfortunately hits closer to home. The rise of gas prices is not something of an issue to be isolated within the UK only, no. Globally suppliers have soared their prices to unprecedented levels, due to many suppliers either going bust or redirecting customers to new suppliers on expensive tariffs. Unfortunately, with the cost of living increasing due to inflation, everything else must also follow. This hit should impact more underprivileged areas the most, being that heating takes up a larger proportion of most incomes.
Used Vehicles
This one may be a shocker to many, however due to the shortage of minerals in addition to the cost of living generally increasing over the years, used cars must also pay the price. The steepest surge in price came at the UK’s most loved car, a 2019 Mini Hatch. From 2019 to present day, the price has shot up from £9.8k, to £15.4. This is all down to fewer production lines and shortages in aluminium, copper and cobalt.
