Annual inflation rate in the UK jumped to 3.2% in August of 2021, the highest since March 2012, from 2% in July and above market forecasts of 2.9%. A low base effect from last year had the biggest impact, because, in part, of discounted restaurant and café prices in August 2020 resulting from the government's Eat Out to Help Out scheme and, to a lesser extent, reductions in Value Added Tax across the same sector. Main upward pressure came from prices of recreation and culture (2.4% vs 0.7% in July), transport (7.8% vs 7.7%), housing and utilities (1.8% vs 1.7%), food (0.3% vs -0.6%) and restaurants and hotels (8.6% vs 2.2%). The monthly rate increased to 0.7%m the highest in 3 years, from a flat reading in July. source: Office for National Statistics
Inflation Rate in the United Kingdom averaged 2.48 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 September of 2021.
Inflation Rate in the United Kingdom is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Inflation Rate is projected to trend around 1.70 percent in 2022 and 1.80 percent in 2023, according to our econometric models.