2022-06-22 10:58News

Revealed: Biggest price changes in cost of living crisis

New analysis shows price changes past two years

With the ongoing cost of living crisis, PriceRunner analysed price data from the past two years to see where the biggest price changes have been. The numbers show the most expensive products that consumers should avoid, but also where prices have decreased the most.

In an analysis of more than 40 000 products on their site, PriceRunner found a large number of products that had increased in price between May 2020 and May 2022, where some had even doubled in price. 

One of the biggest price increases was found in the more popular categories like digital cameras, graphics cards, monitors, TV's and desktop computers. Graphics cards increased by 97% during the period, computer and TV cards by 66%, digital cameras by 51% (or on average £243) and TV’s went up by 12% (or £74).

With the global delivery crisis, the UK’s own supply chain issues, a global semiconductor shortage and other factors, it has been harder for retailers to keep up with demand and prices have been pushed up as a result.” said Christine Gouldthorp, Consumer Expert at PriceRunner.

A lot of whitegoods and kitchen products have also increased in price over the past two years, such as cookers, tumble dryers, fridge freezers and washing machines. Cookers are now on average 46% more expensive (or £497), tumble dryers will set you back £64 on average, corresponding to a 16% increase.

Increased prices on whitegoods

With a hot summer approaching, you might want a ride-on lawn mower to keep that lush grass in order. Be sure to compare prices before you buy, as these have increased on average by £859 in price over the past two years.

Parents might want to shop around before buying a new pushchair, as they have increased by almost a fifth in price, or on average by £68. For those wanting to spend less time cleaning, robot vacuum cleaners have increased in price by on average £46.

The biggest price increases during the past two years were:

Products with largest price increases

What bargains can be made in 2022?

With rising prices on food, fuel and energy, it might seem like everything is getting more expensive. But if you do a little bit of homework and investigate prices before you buy, you will find that there are products that are cheaper now than two years ago. 

2022 is a good year to invest in heating for your home ahead of colder months. Heating pumps and boilers are the two categories that have decreased the most in price over the past two years. Heating pumps now cost on average £1000 less than two years ago, boilers now cost almost £500 as much.

If you want to make a good health deal, fitness machines have decreased by on average a third in price over the comparison period. Get beach body ready in a flash, as machines are now on average £100 cheaper than two years ago.

Fitness products have gone down in price

2022 is also a good year for leisure activities. Boating products have decreased by almost 70% in the past two years, sounds bars and home cinema systems by a fifth (17%), green houses by 23%, turntables by 45% (or £161) and sewing machines by £98 (26%).

There are plenty of categories that have gone down in price during the past couple of years. For those planning a staycation this year, leisure products such as green houses, sewing machines and boating products have all gotten cheaper over the past two years.” said Christine Gouldthorp.

According to PriceRunner's data, the products that have gone down in price the most during the past two years are:

Largest price decreases past two years

An important factor affecting supply and demand, and therefore price levels, is the ability to get hold of products. On PriceRunner’s website this availability is called stock status, which lets us know how many of all listed products are in stock.

Out of the 2.6 million products on PriceRunner’s’ website, 45% of all electric bikes are currently out of stock, making it harder to grab a bike this summer.

It might also be challenging to upgrade your water heating system right now, as 80% of all products in the category on PriceRunner’s website are not available.

The products that are the most out of stock right now (as of 22nd of June), are:

Stock status inflation products

About the analysis:

Comparison period: May 2020 compared with May 2022
Number of products in two-year analysis: More than 40 000

About PriceRunner

PriceRunner was founded in 1999 and is the UK’s largest comparison service with 2.3 million products from 6,000 retailers in 21 different countries, who all deliver to the UK. The company has roughly 200 employees in Stockholm, Sweden and Nykøbing Falster, Denmark. Our services are used every month by consumers who can compare products, prices, specifications, read professional product tests and consumer reviews of products and retailers. PriceRunner is owned by Klarna. PriceRunner is a completely independent company. We are not owned by any manufacturers and are not dependent on them, retailers or other organisations with an interest in providing biased information. Our goal is to help consumers find the right products to the best prices. Every month, we help consumers find better and cheaper products while saving money by using PriceRunner's services.