2024 Cost Of Living Increase Uk 2024. Between june 2024 to august 2024, annual growth in regular pay, which excludes bonuses, was 4.9%, according to the latest figures from. Inflation returned to 2% in may 2024 after being above 3% between august 2021 and march 2024, and peaking at 11.1% in october 2022.
Food and energy prices rose markedly, particularly gas prices, partly in response to the conflict in ukraine. In august 2023, almost all uk households (97%) reported an increase in their gas and electricity bills which contributed to the overall cost of living.
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