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.

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United Kingdom Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.60 8.50 -0.10 1989 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-18 07:00 AM Oct 0.7% 0.5% 0.6% 0.7%
2020-12-16 07:00 AM Nov 0.3% 0.7% 0.6% 0.8%
2021-01-20 07:00 AM Dec 0.6% 0.3% 0.5% 0.6%
2021-02-17 07:00 AM Jan 0.7% 0.6% 0.6% 0.4%
2021-03-24 07:00 AM Feb 0.7% 0.8%
2021-04-21 06:00 AM Mar 1%
2021-05-19 06:00 AM Apr
2021-06-16 06:00 AM May


News Stream
UK Inflation Rate Inches Up to 0.7%
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.
2021-02-17
UK Inflation Rate Slightly Higher than Expected
The inflation rate in the UK edged up to 0.6% in December of 2020 from 0.3% in November and slightly above market forecasts of 0.5%, as some coronavirus restrictions were eased. Biggest upward contribution came from transport (1.9% vs 1%), namely air fares and second-hand cars; clothing and footwear (-1.8% vs -3.6%); recreation and culture (2.6% vs 1.9%); and alcohol and tobacco (3.6% vs 2%). In contrast, main downward pressure came from food and non-alcoholic beverages (-1.4% vs -0.6%); furniture (-0.7% vs -0.3%); communication (2.6% vs 3.5%); and restaurants and hotels (0.1% vs 0.4%). On a monthly basis, consumer prices were up 0.3%, above forecasts of 0.2%.
2021-01-20
UK Inflation Rate Slows More than Expected
Consumer prices in the UK edged up 0.3 percent year-on-year in November of 2020, below 0.7 percent in October and market forecasts of 0.6 percent. The largest downward contribution came from cost of food and non-alcoholic beverages (-0.6 percent) and clothing and footwear (-3.6 percent, the biggest drop since January of 2010 on increased discounting for the Black Friday) and housing and utilities (-1.4 percent). Such decreases were partially offset by upward contributions from games, toys and hobbies (5.4 percent), and accommodation services (1.1 percent). On a monthly basis, consumer prices were down 0.1 percent, compared to market expectations of a 0.1 percent rise.
2020-12-16
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

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.