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
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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.

UK inflation rate remains negative

Consumer Price Inflation, October 2015: ONS

  • The Consumer Prices Index (CPI) fell by 0.1% in the year to October 2015, the same fall as in the year to September 2015.
  • Upward price pressures for clothing and footwear and a range of recreational goods were offset by downward price pressures for university tuition fees, food, alcohol and tobacco, resulting in no change to the overall rate of inflation.

Negative inflation

Consumer Price Inflation, April 2015: ONS

  • The Consumer Prices Index (CPI) fell by 0.1% in the year to April 2015, compared to no change (0.0%) in the year to March 2015.
  • This is the first time the CPI has fallen over the year since official records began in 1996 and the first time since 1960 based on comparable historic estimates.
  • The largest downward contribution came from transport services – notably air and sea fares, with the timing of Easter this year a likely factor.
  • The Retail Prices Index (not a National Statistic) grew by 0.9% in the year ending April 2015, unchanged from March 2015.

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 falls to 0.5%

Consumer Price Inflation, December 2014

  • The Consumer Prices Index (CPI) grew by 0.5% in the year to December 2014, down from 1.0% in November.
  • The main contributions to the fall came from the December 2013 gas and electricity price rises falling out of the calculation and the continuing drop in motor fuel prices.