Annual inflation rate in the United Kingdom edged up to 0.7 percent in March of 2021 from 0.4 percent in February and below market expectations of 0.8 percent. The biggest upward contribution came from rising prices for motor fuels (3.5 percent) which were partially offset by falls in the price of food and non-alcoholic beverages (-1.4 percent), namely bread and cereals, and confectionery. Petrol prices stood at 123.7 pence per litre in March 2021, compared with 119.4 pence per litre in March 2020 and a recent low of 106.2 pence per litre in May 2020. The first stage of easing the nationwide coronavirus lockdown started in March but stores, pubs and restaurants opened in April only. British inflation is forecast to rise sharply in the coming months, due to an increase in regulated household energy bills in April, higher global oil prices and a low comparison base as demand sank last year due to the coronavirus. source: Office for National Statistics
Inflation Rate in the United Kingdom averaged 2.49 percent from 1989 until 2021, reaching an all time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Inflation Rate in the United Kingdom is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in the United Kingdom to stand at 1.80 in 12 months time. In the long-term, the United Kingdom Inflation Rate is projected to trend around 1.90 percent in 2022 and 2.10 percent in 2023, according to our econometric models.