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.

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United Kingdom Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.40 8.50 -0.10 1989 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-20 07:00 AM Dec 0.6% 0.3% 0.5% 0.6%
2021-02-17 07:00 AM Jan 0.7% 0.6% 0.6% 0.4%
2021-03-24 07:00 AM Feb 0.4% 0.7% 0.8% 0.8%
2021-04-21 06:00 AM Mar 0.7% 0.4% 0.8% 0.8%
2021-05-19 06:00 AM Apr 0.7% 1.4% 1.4%
2021-06-16 06:00 AM May
2021-07-14 06:00 AM Jun
2021-08-18 06:00 AM Jul


News Stream
UK Inflation Rate Rises Less than Expected
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.
2021-04-21
UK Inflation Rate Unexpectedly Slows to 0.4%
Annual inflation rate in the United Kingdom eased to 0.4% in February of 2021 from 0.7% in January, compared to market forecasts of 0.8 percent. Main downward pressure came from a fall in prices for clothing and footwear (-5.7% vs -3.4% in January, the biggest annual decline since November 2009) and a slowdown in second-hand cars (3.5% vs 7.8%), and games, toys and hobbies (7.4% vs 8.4%). On the other hand, upward pressure was recorded for motor fuels, housing (1.8%, the same as in January) and household services overall. Core inflation rate also slowed to 0.9% from 1.4%. The Bank of England expect inflation to rise towards the BoE's 2% target in the first half of this year, mainly due to oil prices, regulated household energy prices and other one-off effects.
2021-03-24
UK Inflation Rate Inches Up to 0.7%
Annual inflation rate in the UK edged up to 0.7 percent in January of 2021 from 0.6 percent in December, slightly above market forecasts of 0.6 percent, as the country was under a coronavirus lockdown. Furniture and household goods (12 percent vs -0.7 percent); restaurants and hotels (1.1 percent vs 0.1 percent); and transport (2.1 percent vs 1.9 percent) had the largest upward contributions, while falling clothing and footwear prices (-3.4 percent vs -1.8 percent) had a downward effect. Meanwhile, prices of food fell at a slower pace (-0.7 percent vs -1.4 percent). On a monthly basis, consumer prices fell 0.2 percent, less than forecasts of a 0.4 percent drop.
2021-02-17
UK Inflation Rate Slightly Higher than Expected
The inflation rate in the UK edged up to 0.6% in December of 2020 from 0.3% in November and slightly above market forecasts of 0.5%, as some coronavirus restrictions were eased. Biggest upward contribution came from transport (1.9% vs 1%), namely air fares and second-hand cars; clothing and footwear (-1.8% vs -3.6%); recreation and culture (2.6% vs 1.9%); and alcohol and tobacco (3.6% vs 2%). In contrast, main downward pressure came from food and non-alcoholic beverages (-1.4% vs -0.6%); furniture (-0.7% vs -0.3%); communication (2.6% vs 3.5%); and restaurants and hotels (0.1% vs 0.4%). On a monthly basis, consumer prices were up 0.3%, above forecasts of 0.2%.
2021-01-20

United Kingdom Inflation Rate
In the United Kingdom, the most important categories in the consumer price index are Transport (16 percent of the total weight) and Recreation and Culture (15 percent). Housing, Water, Electricity, Gas and Other Fuels accounts for 13 percent; Restaurants and Hotels for 12 percent and Food and Non-alcoholic Beverages for 10 percent. The index also includes: Miscellaneous Goods and Services (9 percent); Clothing and Footwear (7 percent); Furniture, Household Equipment and Maintenance (6 percent). Alcoholic Beverages and Tobacco; Health, Communication and Education account for remaining 11 percent of total weight.