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
Put the numbers in order from lowest to highest. If there is an odd number of them, the median is the one in the middle. If there is an even number, add the two middle numbers together and divide by two. A very high or low number can change the mean a lot without changing the median much.
Example
For £20,000, £25,000 and £105,000, the median is £25,000. For £20,000, £25,000, £30,000 and £105,000, it is £27,500.
Why it matters
The median can give a clearer picture of a typical salary or house price when a few values are unusually high.
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.
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Mean
An average found by adding all the numbers together and dividing by how many there are.
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Median earnings
The middle amount of pay when people's earnings are put in order.
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Median household income
The middle household income when households are put in order from lowest income to highest.
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Mode
The value that appears most often in a set of numbers.
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Keep in the loop
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.
Let's work together
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