United Kingdom Inflation

United Kingdom

Consumer prices post flat annual growth in June

In June, consumer prices did not change over the previous month. The figure was down from the 0.2% increase seen in May and marked the lowest reading in five months. The reading showed that higher prices for alcohol and tobacco offset lower prices for food and non-alcoholic beverages.

In addition, consumer prices were flat on an annual basis, which was down from the 0.1% increase observed in May. June’s reading met market expectations. Annual average inflation inched down from 0.8% in May to 0.6% in June, the lowest level on record.

In its latest inflation report from February, the Bank of England projected that inflation will average 0.2% in 2015 and 1.5% in 2016. FocusEconomics Consensus Forecast panelists expect inflation to average 0.4% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel forecasts that inflation will average 1.6%.

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United Kingdom Inflation Chart

United Kingdom Inflation June 2015

Note: Annual and monthly variation of consumer price index in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.

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