The annual inflation rate in the UK increased to 9.1% in May of 2021 from 9% in the previous month, the highest since 1982 and in line with market expectations. Cost accelerated for housing and utilities (19.4% vs 19.2%); transport (13.8% vs 13.5%); food & non-alcoholic beverages (8.6% vs 6.7%); furniture & household goods (10.5% vs 10.3%); and alcoholic beverages & tobacco (5% vs 4.4%). On the other hand, prices rose at a softer pace for restaurant & hotels (7.6% vs 7.9%); recreation & culture (5% vs 5.9%); health (1.8% vs 2.3%); and clothing & footwear (7% vs 8.3%). Meanwhile, inflation was steady for education (at 4.5%); communication (at 2.8%); and miscellaneous goods & services (at 2.9%). On a monthly basis, consumer prices went up 0.7%, above forecasts of 0.6%, with main upward pressure coming from food and non-food prices. source: Office for National Statistics
Inflation Rate in the United Kingdom averaged 2.56 percent from 1989 until 2022, reaching an all time high of 9.10 percent in May of 2022 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 June of 2022.
Inflation Rate in the United Kingdom is expected to be 9.50 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 3.40 percent in 2023 and 1.50 percent in 2024, according to our econometric models.