Annual inflation rate in the UK edged up to 0.7 percent in January of 2021 from 0.6 percent in December, slightly above market forecasts of 0.6 percent, as the country was under a coronavirus lockdown. Furniture and household goods (12 percent vs -0.7 percent); restaurants and hotels (1.1 percent vs 0.1 percent); and transport (2.1 percent vs 1.9 percent) had the largest upward contributions, while falling clothing and footwear prices (-3.4 percent vs -1.8 percent) had a downward effect. Meanwhile, prices of food fell at a slower pace (-0.7 percent vs -1.4 percent). On a monthly basis, consumer prices fell 0.2 percent, less than forecasts of a 0.4 percent drop. source: Office for National Statistics
Inflation Rate in the United Kingdom averaged 2.50 percent from 1989 until 2021, 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 February of 2021.
Inflation Rate in the United Kingdom is expected to be 0.90 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 1.80 in 12 months time. In the long-term, the United Kingdom Inflation Rate is projected to trend around 2.00 percent in 2022 and 1.90 percent in 2023, according to our econometric models.