Retail price inflation in the United Kingdom which is an older measure still used for inflation-linked government bonds and some commercial contracts, fell to 1 percent in May of 2020 from 1.5 percent in April. It is the lowest reading since October of 2015.

Retail Price Index in the United Kingdom averaged 5.29 percent from 1948 until 2020, reaching an all time high of 26.90 percent in August of 1975 and a record low of -1.60 percent in June of 2009. This page provides - United Kingdom Retail Price Index YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Retail Price Index YoY - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Office for National Statistics

Retail Price Index 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 Retail Price Index in the United Kingdom to stand at 1.40 in 12 months time. In the long-term, the United Kingdom Retail Price Index YoY is projected to trend around 1.50 percent in 2021 and 1.80 percent in 2022, according to our econometric models.

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United Kingdom Retail Price Index YoY

Actual Previous Highest Lowest Dates Unit Frequency
1.00 1.50 26.90 -1.60 1948 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-20 06:00 AM Retail Price Index YoY Apr 1.5% 2.6% 1.6% 1.5%
2020-05-20 06:00 AM Retail Price Index MoM Apr 0% 0.2% 0% 0.0%
2020-06-17 06:00 AM Retail Price Index MoM May -0.1% 0.2% 0.1% 0%
2020-06-17 06:00 AM Retail Price Index YoY May 1% 1.5% 1.2% 1.2%
2020-07-15 06:00 AM Retail Price Index YoY Jun 1% 0.7%
2020-08-19 06:00 AM Retail Price Index YoY Jul
2020-09-16 06:00 AM Retail Price Index YoY Aug
2020-10-21 06:00 AM Retail Price Index YoY Sep

United Kingdom Prices Last Previous Highest Lowest Unit
Inflation Rate 0.50 0.80 8.50 -0.10 percent [+]
Inflation Rate Mom 0.00 -0.20 3.37 -0.94 percent [+]
Consumer Price Index CPI 108.47 108.50 108.60 48.40 points [+]
Harmonised Consumer Prices 108.47 108.50 108.63 48.40 points [+]
Core Consumer Prices 109.00 108.90 109.00 72.90 points [+]
Core Inflation Rate 1.20 1.40 3.70 -0.10 percent [+]
GDP Deflator 107.52 106.49 107.52 4.16 points [+]
Producer Prices Change -1.40 -0.70 27.80 -1.90 percent [+]
Food Inflation 1.80 1.30 13.00 -3.30 percent [+]
Inflation Expectations 3.00 3.10 4.60 0.80 percent [+]
Producer Prices 114.30 114.70 116.20 8.10 points [+]
Retail Price Index 1.00 1.50 26.90 -1.60 percent [+]
Core Producer Prices 114.80 114.80 114.80 89.80 points [+]
CPI Housing Utilities 105.80 105.70 107.20 31.70 points [+]
CPI Transportation 110.60 111.80 114.90 40.40 points [+]


United Kingdom Retail Price Index YoY
In the UK, the RPI was initially developed as a compensation index, derived from an index designed as an aid to protect ordinary workers from price increases associated with the First World War. The RPI provides estimates of inflation from 1947 onwards with the first official release of consumer price inflation being produced in January 1956. Until the introduction of the UK CPI in 1996, the RPI and its derivatives, were the only measures of UK consumer price inflation available to users. Following a consultation on options for improving the Retail Prices Index (RPI), the National Statistician, Jil Matheson, concluded that one of the formulae used to produce the RPI does not meet international standards and recommended that a new index be published. The RPI covers only private households but excludes the top 4% of households by income and pensioner households who receive at least three-quarters of their income from benefits.