Fuel and travel costs are pushing prices up again
Thursday 5 November 2026
Inflation has risen to 3.1%, meaning everyday spending is getting more expensive just as household budgets are already under pressure.
Key term
What it means
GDP measures the value of goods and services made in a country. Dividing it by the population gives GDP per person, also called GDP per head. Comparing it over time can show whether the economy has grown faster than the population. It is not the amount of money an average person receives.
Example
If a country's GDP is £200 billion and its population is 10 million, its GDP per person is £20,000. That does not mean everyone earns £20,000.
Why it matters
Total GDP can rise while GDP per person barely changes if the population is growing too.
Also known as
GDP per capita
GDP per head
Related terms
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Economic growth
An increase in the goods and services an economy produces over time, after allowing for changing prices.
Read more -
Gross domestic product (GDP)
The total value of goods made and services provided within a country over a period of time.
Read more -
Real GDP
A measure of a country's production that removes the effect of changing prices.
Read more
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News
Highlights from about the UK economy, the UK government and the UK public sector.
Mortgage relief will have to wait a little longer
Wednesday 4 November 2026
Interest rates are staying at 3.75%, so households with mortgages and other borrowing may have to wait longer for costs to come down.
Energy bills are going up as winter approaches
Wednesday 4 November 2026
A higher energy price cap means many households will be paying more to heat and power their homes during the colder months.
Guides and insights
Analysis
Clear, accessible analysis of the economic issues shaping everyday life
Living standards
What does a day’s work buy?
Comparing the cost of everyday life across generations, from bread and beer to buying a home.
Food & prices
The journey behind your grocery bill
How farming, energy, transport and supermarket competition shape the price on the shelf.
Prices & inflation
Inflation is falling. What happens next?
What slower price rises mean for wages, purchasing power and economic recovery.
Shared prosperity
What would shared prosperity look like?
Beyond GDP: how we could measure economic success through security, opportunity and living standards.
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