Inflation falls

Consumer price inflation, UK: February 2018: ONS

  • The Consumer Prices Index (CPI) 12-month rate was 2.7% in February 2018, down from 3.0% in January 2018.
  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.5% in February 2018, down from 2.7% in January 2018.
  • The largest downward contributions to the change in the rate came from transport and food prices, which rose by less than a year ago.
  • Falling prices for accommodation services also had a downward effect.
  • Rising prices for footwear produced the largest, partially offsetting, upward contribution.
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Inflation falling

UK consumer price inflation: December 2017 – ONS

  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.7% in December 2017, down from 2.8% in November 2017.
  • Following a steady increase from late 2015, since April 2017 the CPIH rate has levelled off, ranging between 2.6% and 2.8%.
  • The downward effect came mainly from air fares, along with a fall in the prices of a range of recreational goods, particularly games and toys.
  • The downward contributions were partially offset by an increase in tobacco prices, reflecting duty increases that came into effect following the Autumn Budget, along with an increase in petrol and diesel prices.
  • The Consumer Prices Index (CPI) 12-month rate was 3.0% in December 2017, down from 3.1% in November 2017

Highest UK inflation since 2012

UK consumer price inflation: September 2017 – ONS

  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.8% in September 2017, up from 2.7% in August 2017; it was last higher in March 2012.
  • The main contributors to the increase in the rate were rising prices for food and recreational goods, along with transport costs, which fell by less than they did a year ago.
  • These upward effects were partially offset by downward contributions from a range of goods and services, in particular clothing prices, which rose by less than they did a year ago.
  • The Consumer Prices Index (CPI) 12-month rate was 3.0% in September 2017, up from 2.9% in August 2017; it was last higher in March 2012.

Inflation up to 2.9%

UK consumer price inflation: August 2017 – ONS

  • The Consumer Prices Index (CPI) 12-month rate was 2.9% in August 2017, up from 2.6% in July 2017.
  • The Consumer Prices Index including owner occupiers’ housing costs 12-month inflation rate was 2.7% in August 2017, up from 2.6% in July 2017.
  • Rising prices for clothing and motor fuels were the main contributors to the increase in the rate between July and August 2017.
  • Air fares also rose between July and August but the rise was smaller than between the same two months a year ago and so resulted in a partially offsetting, downward contribution.

Inflation rate falling

UK consumer price inflation: June 2017 – ONS

  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.6% in June 2017, down from 2.7% in May 2017.
  • This is the first fall in the CPIH inflation rate since April 2016, although it remains higher than in recent years.
  • Falling prices for motor fuels and certain recreational and cultural goods and services were the main contributors to the fall in the rate.
  • These downward contributions were partially offset by rising prices for furniture and furnishings.
  • The Consumer Prices Index (CPI) 12-month rate was 2.6% in June 2017, down from 2.9% in May 2017.

Inflation on the rise

UK consumer price inflation: May 2017 – ONS

  • The Consumer Prices Index including owner occupiers’ housing costs 12-month inflation rate was 2.7% in May 2017, up from 2.6% in April.
  • The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since April 2012.
  • Rising prices for recreational and cultural goods and services (particularly games, toys and hobbies) was the main contributor to the increase in the rate.
  • There were smaller upward contributions from increased electricity and food prices.
  • These upward contributions were partially offset by falls in motor fuel prices, and air and sea fares, the latter two influenced by the timing of Easter in April this year.
  • The Consumer Prices Index (CPI) 12-month rate was 2.9% in May 2017, up from 2.7% in April.

UK inflation highest since 2013

UK consumer price inflation: Apr 2017

  • The Consumer Prices Index (CPI) 12-month rate was 2.7% in April 2017, up from 2.3% in March
  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.6% in April 2017, up from 2.3% in March.
  • The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since June 2013.
  • Air fares were the main contributors to the increase in the rate in April 2017, although this balanced out a downward effect of similar magnitude in March 2017 and is due to Easter falling later than last year.
  • Rising prices for clothing, vehicle excise duty and electricity also contributed to the increase in the rate.
  • These upward contributions were partially offset by a fall in motor fuel prices between March 2017 and April 2017, compared with a rise between the same 2 months a year ago