Household Costs Indices For Uk Household Groups - April To June 2024

30th August 2024

Overall, UK household costs, as measured by the Household Costs Index (HCI), rose 2.5% in the year to June 2024, slowing from the annual rate of 4.5% in March 2024.

Over the past three years, the all-households inflation rate has followed the fifth income decile most closely; costs for these households rose 2.3% in the year to June 2024, compared with rises of 3.3% for high-income households (decile 9) and 1.7% for low-income households (decile 2).

By tenure type, mortgagor and other owner-occupier households had the highest annual inflation rate of 3.7% in the year to June 2024, reflecting rising mortgage interest payments; by contrast, the rate for outright owner occupiers was the lowest, at 1.3% in the year to June 2024.

Private renters' HCI inflation rate was higher than social and other renters in the year to June 2024, at 3.2% and 1.9%, respectively.
Non-retired households continued to experience a higher annual rate of inflation (2.9% in the year to June 2024) than retired households (1.2%).

The annual inflation rate for households with children fell to 2.9% and the rate for households without children fell to 2.3%, in the year to June 2024.

Read the full ONS report HERE