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.
Mean
An average found by adding all the numbers together and dividing by how many there are.
Key term
What it means
To find the mean, add up every value in a group and divide the total by the number of values. A single unusually high or low value can change the result a lot. That is why the mean may give a misleading impression of what most people earn or own.
Example
For salaries of £20,000, £25,000 and £105,000, the mean is £50,000, even though two of the three people earn less than that.
Why it matters
When a report gives an “average salary”, knowing whether it uses the mean helps you judge what the figure tells you about typical pay.
Also known as
arithmetic mean
Related terms
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Average
A number used to describe what is typical in a group. There is more than one way to work it out.
Read more -
Mean earnings
Total earnings for a group divided by the number of people or jobs counted.
Read more -
Median
The middle value when a set of numbers is put in order.
Read more -
Mode
The value that appears most often in a set of numbers.
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
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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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