United Kingdom Inflation Rate

The inflation rate in the United Kingdom was recorded at 1.90 percent in June of 2014. Inflation Rate in the United Kingdom averaged 2.78 Percent from 1989 until 2014, reaching an all time high of 8.50 Percent in April of 1991 and a record low of 0.50 Percent in May of 2000. Inflation Rate in the United Kingdom is reported by the Office for National Statistics.

   
 
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United Kingdom Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.50 8.50 0.50 1989 - 2014 Percent Monthly
In the United Kingdom, the most important categories in the consumer price index are Transport (16.2 percent of the total weight) and Housing, Water, Electricity, Gas and Other fuels (14.4 percent). Recreation and Culture accounts for 13.4 percent; Restaurants and Hotels for 11.4 percent and Food and Non-alcoholic Beverages for 11.2 percent. The index also includes: Miscellaneous Goods and Services (9.6 percent); Clothing and Footwear (6.5 percent); Furniture, Household Equipment and Maintenance (6.1 percent). Alcoholic Beverages and Tobacco; Health, Communication and Education account for remaining 11.2 percent of total weight. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.


UK Inflation Rate Unexpectedly Jumps to 1.9%


The UK annual inflation rate accelerated to 1.9 percent in June of 2014 from 1.5 percent in the previous month. It is the highest rate since January this year, driven by a rise in prices of clothing, food and non-alcoholic drinks and air transport.

The largest upward contributions to the change in the CPI 12-month rate between May and June 2014 came from clothing and footwear: prices, overall, rose by 0.6 percent between May and June this year compared with a fall of 1.9 percent a year ago. Prices usually fall between May and June as the summer sales begin but this year the average prices of a number of products have risen. The main upward effect came from garments, particularly women’s outerwear where there were upward contributions from nearly all items, the largest from trousers and skirts.

Cost of food and non-alcoholic beverages rose between May and June this year but fell between the same two months a year ago. The upward effect came principally from vegetables, bread and cereals, sugar, jam, syrups, chocolate and confectionery and mineral waters, soft drinks and juices.

Transport prices, overall, rose by 0.6 percent between May and June 2014, compared with a rise of 0.1 percent between the same two months a year earlier. The largest upward contribution came from air transport, with average fares rising this year but falling in 2013, particularly on European routes. There was also a smaller upward effect from sea transport. Partially offsetting these movements was a small downward contribution from motor fuels with prices, overall, rising this year by less than a year ago.

Cost of furniture, household equipment and maintenance rose by 0.2 percent between May and June this year but fell by 0.5 percent a year ago. The main upward effect came from furniture and furnishings where prices rose by more than a year ago.

There were no large downward contributions to the change in the CPI 12-month rate between May and June 2014. The only, relatively small, downward effect came from miscellaneous goods and services. This came principally from appliances and products for personal care where there were price reductions on products such as perfume this year. 

On a monthly basis, consumer prices went up 0.2 percent in June. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
7/15/2014 10:20:51 AM


Recent Releases

UK Inflation Down to 4-1/2 Year Low
The UK annual inflation rate slowed to 1.5 percent in May of 2014 from 1.8 percent in the previous month, due to a fall in food prices and cost for air and sea fares. It is the lowest rate since October of 2009. Published on 2014-06-17

UK Inflation Rises More Than Expected
UK consumer prices rose to an annual 1.8 percent in April of 2014, up from 1.6 percent in the previous month, driven by higher traveling cost during the Easter holidays. Published on 2014-05-21


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-15 09:30 AM United Kingdom
Inflation Rate YoY
Mar 2014 1.6% 1.7% 1.6% 1.71%
2014-05-20 09:30 AM United Kingdom
Inflation Rate YoY
Apr 2014 1.8% 1.6% 1.7% 1.63%
2014-06-17 09:30 AM United Kingdom
Inflation Rate YoY
May 2014 1.5% 1.8% 1.7% 1.6%
2014-07-15 09:30 AM United Kingdom
Inflation Rate YoY
Jun 2014 1.9% 1.5% 1.6% 1.63%
2014-08-19 09:30 AM United Kingdom
Inflation Rate YoY
Jul 2014 1.9% 1.39%


Prices Last Previous Highest Lowest Unit
Inflation Rate 1.90 1.50 8.50 0.50 Percent [+]
Inflation Rate Mom 0.20 -0.06 3.37 -0.94 Percent [+]
Consumer Price Index (CPI) 128.28 128.02 128.28 61.90 Index Points [+]
Core Inflation Rate 2.00 1.60 3.70 -0.10 Percent [+]
Harmonised Consumer Prices 128.28 128.02 128.28 124.40 Index Points [+]
Core Consumer Prices 123.87 123.58 123.87 87.60 Index Points [+]
GDP Deflator 106.72 106.23 106.72 5.39 Index Points [+]
Producer Prices Change 0.20 0.50 27.80 -1.60 Percent [+]
Export Prices 103.60 104.00 119.50 13.80 Index Points [+]
Import Prices 104.60 105.00 119.60 12.40 Index Points [+]
Food Inflation 0.00 -0.60 13.00 -2.30 Percent [+]





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