Household costs in the UK rose by 2.8% in the year to December 2024, up from 2% in September, according to the Office for National Statistics (ONS).
The inflation rate for all households closely followed the sixth income decile, with a rise of 2.7%.
High-income households saw a 3.2% increase, while low-income households experienced a 2.6% rise.
Private renters faced the highest annual inflation rate at 3.9%, largely due to rising rental payments.
Mortgagor households saw a 3.1% increase, while outright owner-occupiers had the lowest rate at 2.1%.
Additionally, non-retired households experienced higher inflation at 3%, compared to 2.3% for retired households.
Households with children had an inflation rate of 3%, slightly higher than those without children, at 2.8%.
Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “Inflation is squeezing higher earners harder, but because they tend to have more wiggle room, they’re more able to cope.
“Meanwhile, renters are facing the horrible consequences of runaway housing costs.
“This is particularly difficult given that they had less spare income to manage in the first place.
“Inflation increased across the board, partly because transport prices were on the rise, but also because prices of things like electricity and gas are falling more slowly than they were three months earlier.”
Coles added: “Homeowners faced higher costs thanks to higher mortgage rates, hitting those with large homes and big loans harder.
“It’s a major reason why both higher earners and those with children saw higher inflation rates.
“Rising prices aren’t a welcome change for anyone, but wealthier people are in a better position to weather the storm, because their finances are less stretched.”
She said: “The HL Savings & Resilience Barometer shows that the ninth decile of earners have £532 left at the end of the month, so they can roll with the punches more effectively than those on lower incomes.
“Meanwhile the rise in costs was particularly painful for renters – who saw inflation of 3.9% compared to 3.1% for those with mortgages.
“This owes an enormous amount to runaway housing costs, pushing them to the brink.
She added: “The Barometer shows they have an average of just £62 left at the end of the month, fewer than half have enough emergency savings (46%) and 56% have either poor or very poor resilience.
“The inflation rate was lower for retirees – at 2.3% compared to 3% for non-retirees.
“Those on smaller budgets and in smaller homes benefitted from lower running costs.
“Meanwhile, those who own their own home outright escaped both higher remortgage costs and runaway rents – so had an inflation rate of just 2.1%.”
