Annual inflation rate in the United Kingdom increased to 0.7% in October of 2020 from 0.5% in September, above forecasts of 0.6%. It is the highest reading in three months, amid a rebound in prices of clothing (0% vs -1.5% in September) ; food (0.6% vs -0.1%); and furniture, furnishings and carpets (0.1% vs -0.5%). Prices increased faster for transport (1.2% vs 0.9%; and miscellaneous goods and services (0.8% vs 0.7%) while cost of recreation and culture eased (2% vs 2.4%) and housing and utilities declined (-1.3% vs -0.9%). On a monthly basis, consumer prices stalled, following a 0.4% rise in September and compared to market expectations of a 0.1% drop. source: Office for National Statistics

Inflation Rate in the United Kingdom averaged 2.51 percent from 1989 until 2020, reaching an all time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Inflation Rate in the United Kingdom is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in the United Kingdom to stand at 1.50 in 12 months time. In the long-term, the United Kingdom Inflation Rate is projected to trend around 1.90 percent in 2021 and 1.70 percent in 2022, according to our econometric models.

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United Kingdom Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.50 8.50 -0.10 1989 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-19 06:00 AM Jul 1% 0.6% 0.6% 0.7%
2020-09-16 06:00 AM Aug 0.2% 1% 0% 0.1%
2020-10-21 06:00 AM Sep 0.5% 0.2% 0.5% 0.4%
2020-11-18 07:00 AM Oct 0.7% 0.5% 0.6% 0.7%
2020-12-16 07:00 AM Nov 0.7%
2021-01-15 09:30 AM Dec
2021-02-19 09:30 AM Jan
2021-03-25 07:00 AM Feb


News Stream
UK Inflation Rate Up to 0.7%
Annual inflation rate in the United Kingdom increased to 0.7% in October of 2020 from 0.5% in September, above forecasts of 0.6%. It is the highest reading in three months, amid a rebound in prices of clothing (0% vs -1.5% in September) ; food (0.6% vs -0.1%); and furniture, furnishings and carpets (0.1% vs -0.5%). Prices increased faster for transport (1.2% vs 0.9%; and miscellaneous goods and services (0.8% vs 0.7%) while cost of recreation and culture eased (2% vs 2.4%) and housing and utilities declined (-1.3% vs -0.9%). On a monthly basis, consumer prices stalled, following a 0.4% rise in September and compared to market expectations of a 0.1% drop.
2020-11-18
UK Inflation Rate Edges Up to 0.5%
Annual inflation rate in the United Kingdom increased to 0.5% in September of 2020 from a near 5-year low of 0.2% in August, matching market expectations. The largest upward contribution came from cost of recreation and culture (2.4% vs 2.8% in August), transport (0.9% vs -1%), and restaurants and hotels (-0.7% vs -2.8%) after the end of the Eat Out to Help Out scheme. In contrast, smaller downward contributions from furniture, household equipment and maintenance (-0.5% vs 0.4%); games, toys and hobbies (-1.2% vs 3.8%); and food and non-alcoholic beverages (-0.1% vs 0.4, the lowest rate since January of 2017). On a monthly basis, consumer prices went up 0.4%, reversing from a 0.4% fall in August. Still, the inflation rate remains well below the Bank of England's 2% target.
2020-10-21
UK Inflation Rate Lowest since 2015
Annual inflation rate in the United Kingdom slowed sharply to 0.2 percent in August of 2020 from 1 percent in July, compared to forecasts of a flat reading. It is the lowest reading since December of 2015, amid a big fall in prices in restaurants and cafes, arising from the Eat Out to Help Out Scheme (-2.8 percent vs +1.8 percent in July). Other downward contributions came from lower air fares (-20.6 percent vs -1.9 percent) and clothing prices (-1.6 percent vs a flat reading). The largest, partially offsetting, upward contributions came from games, toys and hobbies (3.8 percent vs 1.6 percent); accommodation services (-1.8 percent vs -3.8 percent); road transport services (9.8 percent vs 5 percent) and second-hand cars (5.2 percent vs 2.5 percent). On a monthly basis, consumer prices fell 0.4 percent, the biggest drop since January of 2019.
2020-09-16
UK Inflation Rate at 4-Month High
Annual inflation rate in the UK jumped to 1% in July of 2020 from 0.6% in June, beating market forecasts of 0.6%. It is the highest reading since March, as the restrictions caused by the coronavirus pandemic have been eased. The largest contributions came clothing (-0.1% vs -2.2%), rising prices at the petrol pump (transportation prices were down 0.7% vs -1.6% in June), and furniture and household goods (0.8% vs -0.5%), namely single beds and bath sheets. In contrast, food inflation slowed (0.8% vs 1.1%), mainly due to fruit, vegetables (including potatoes and tubers), fish, meat, and milk, cheese and eggs. On a monthly basis, consumer prices went up 0.4%, after a 0.1% rise and beating forecasts of a 0.1% fall.
2020-08-19

United Kingdom Inflation Rate
In the United Kingdom, the most important categories in the consumer price index are Transport (16 percent of the total weight) and Recreation and Culture (15 percent). Housing, Water, Electricity, Gas and Other Fuels accounts for 13 percent; Restaurants and Hotels for 12 percent and Food and Non-alcoholic Beverages for 10 percent. The index also includes: Miscellaneous Goods and Services (9 percent); Clothing and Footwear (7 percent); Furniture, Household Equipment and Maintenance (6 percent). Alcoholic Beverages and Tobacco; Health, Communication and Education account for remaining 11 percent of total weight.