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.
Median household income
The middle household income when households are put in order from lowest income to highest.
What it means
Put households in order by income. The one in the middle gives the median: roughly half are above and half below. Different reports count income differently. Some use income after tax and benefits, and some adjust for how many adults and children live in a household so households of different sizes can be compared more fairly. Check which version a figure uses.
Example
If three households have yearly incomes of £20,000, £30,000 and £100,000, the middle figure is £30,000. A published figure may make further adjustments for tax and household size.
Why it matters
It gives a sense of a typical household's income, but you need to know what has been included before comparing places or years.
Related terms
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Disposable household income
Money a household receives after direct taxes have been taken off and cash benefits have been added.
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Equivalised income
Household income adjusted so that households of different sizes can be compared more fairly.
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Income decile
One of ten equally sized groups formed by putting people or households in order of income.
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Income inequality
The gap between people or households in the money they receive.
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Median
The middle value when a set of numbers is put in order.
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Relative poverty
Having a household income below a set share of what the middle household receives in the same year.
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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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