Inflation up to 2.5%

Consumer price inflation, UK: July 2018 – ONS

The Consumer Prices Index (CPI) 12-month rate was 2.5% in July 2018, up from 2.4% in June 2018.

  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July 2018, unchanged from June 2018.
  • Rising prices for computer games and transport fares produced the largest upward contributions to change in the 12-month rate between June and July 2018, although computer game prices tend to be highly variable from month to month.
  • The upward effects were offset by falls in prices for clothing and footwear, and the removal of initial charges for investment in some unit trusts.
  • Prices for clothing and footwear fell by 0.4% between July 2017 and July 2018, the first time the 12-month rate has been negative since October 2016.
Advertisements

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.

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 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.

Inflation highest since June 2014

UK consumer price inflation: Jan 2017 – ONS

  • The Consumer Prices Index (CPI) rose by 1.8% in the year to January 2017, compared with a 1.6% rise in the year to December 2016.
  • The rate in January 2017 was the highest since June 2014.
  • The main contributors to the increase in the rate were rising prices for motor fuels and to a lesser extent food prices, which were unchanged between December 2016 and January 2017, having fallen a year ago.
  • These upward pressures were partially offset by prices for clothing and footwear, which fell by more than they did a year ago.