The ONS’s latest consumer price inflation report highlighted how an easing in the price of motor fuels in December 2022 was partially offset by transport services, with annual price rises of 11.3% for passenger transport by road – largely because of coach fares – and 44.1% for passenger transport by air.
The annual rate of 44.1% inflation is the largest recorded rate for this class since at least January 1989, when its records for this began.
Price inflation for passenger transport by air reached an annual rate of 40.3% in August 2022. and had subsequently been falling. However, the annual rate for December 2022 was an increase of 19.8 percentage points from the previous month.
