Britain's consumer price inflation slowed to 0.8% year-on-year in April 2020, from 1.5% in the previous month and slightly below market expectations of 0.9%. That was the lowest rate since August 2016, mainly due to falls in housing & utilities (-1.1% vs 1.7%), led by cost of regulated water supply, gas and electricity after the authorities introduced energy price caps. Other downward contribution came from cost of motor fuels with petrol prices falling by 10.4 pence per litre between March and April after international oil prices plunged to historical low levels. Transportation services also declined (-1% vs 1.3%) as the country imposed a coronavirus lockdown from March 23rd. In addition, inflation slowed for miscellaneous goods and services (1.3% vs 2.5%) and was steady for food and non-alcoholic beverages (at 1.3%). The CPI including owner occupiers’ housing costs inflation rate was 0.9%n in April, down from 1.5% in March.
Inflation Rate in the United Kingdom averaged 2.54 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 May of 2020. source: Office for National Statistics
Inflation Rate in the United Kingdom is expected to be 1.20 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 1.60 in 12 months time. In the long-term, the United Kingdom Inflation Rate is projected to trend around 1.70 percent in 2021 and 1.90 percent in 2022, according to our econometric models.