Record Low for UK inflation

Consumer Price Inflation, January 2015

  • The Consumer Prices Index (CPI) grew by 0.3% in the year to January 2015, down from 0.5% in December 2014.
  • Falling prices for motor fuels and food were the main contributors to the slowdown in the rate of inflation.
  • Smaller price falls than a year ago for clothing partially offset the slowdown.

Inflation down to 1%

Consumer Price Inflation, November 2014: ONS

  • The Consumer Prices Index (CPI) grew by 1.0% in the year to November 2014, down from 1.3% in October.
  • Falls in transport costs (notably for motor fuels, air transport and second-hand cars) and in the prices of recreational and cultural goods were the main contributors to the slowdown in the rate of inflation between October and November.
  • Food and motor fuel prices, which have historically been upward contributors to the CPI 12-month rate, are currently reducing it by 0.4 percentage points.
  • Rate of Inflation lowest for over 12 years

UK inflation rises

Consumer Price Inflation, October 2014

  • The Consumer Prices Index (CPI) grew by 1.3% in the year to October 2014, up from 1.2% in September.
  • Smaller falls in transport costs than a year ago – notably for motor fuels and air fares, and price rises for computer games were the main contributors to the rise in the rate of inflation.
  • Food and motor fuel prices, which have historically been upward contributors to the 12-month CPI rate, are currently reducing it by 0.3 percentage points.

Inflation rises

Consumer Price Inflation, June 2014: ONS

  • The Consumer Prices Index (CPI) grew by 1.9% in the year to June 2014, up from 1.5% in May.
  • The largest contributions to the rise in the rate came from the clothing, food & non-alcoholic drinks and air transport sectors. There were no large downward effects to offset the change.
  • RPIJ grew by 2.0%, up from 1.7% in May.

Inflation rate falls

Consumer Price Inflation, February 2014: ONS

  • The Consumer Prices Index (CPI) grew by 1.7% in the year to February 2014, down from 1.9% in January
  • The largest contribution to the fall in the rate came from transport (principally motor fuels) with other smaller downward effects from the housing & household services and clothing & footwear sectors.
  • These were partially offset by upward contributions from furniture & household goods and recreation & culture.
  • CPIH grew by 1.6% in the year to February 2014, down from 1.8% in January. CPIH is a measure of UK consumer price inflation that includes owner occupiers’ housing costs
  • RPIJ grew by 2.0%, down from 2.1% in January. RPI is a long-standing measure of UK inflation that has historically been used for a wide rangeof purposes such as the indexation of pensions, rents and index-linked gilts.