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.

Inflation down to 2%

Consumer Price Inflation, Dec 2013: ONS

  • The Consumer Prices Index (CPI) grew by 2.0% in the year to December 2013, down from 2.1% in November.
  • The largest contributions to the fall in the rate came from prices for food & non-alcoholic beverages and recreational goods & services. These were partially offset by an upward contribution from motor fuels.
  • The overall price increase for gas and electricity in December 2013 was slightly larger than the rises a year earlier resulting in a small upward contribution to inflation.
  • CPIH (includes owner occupiers’ housing costs) grew by 1.9% in the year to December 2013, unchanged from November.
  • RPIJ grew by 2.0%, also unchanged from November. RPIJ is an improved variant of the Retail Prices Index which is calculated using formulae that meet international standards