In June, consumer prices decreased 0.4% over the previous month, which marked the sharpest price drop since January and exceeded market expectations of a 0.1% decline. Prices fell across the board, in particular for clothing and footwear, amid "reports of summer sales starting earlier than last year", as well as for transportation, mostly reflecting lower fuel prices. Owing to the subdued monthly reading, annual inflation dropped from 2.8% in May to 2.4% in June, which represents the lowest inflation rate since November 2009. Moreover, the trend continued to point downwards, with annual average inflation edging down from 4.0% in May to 3.9% in June. Based on figures from its latest inflation report from May, the Bank of England expects inflation to average 3.2% this year
United Kingdom Inflation
Inflation declines further on lower fuel prices
July 17, 2012
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United Kingdom Inflation Chart
Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Office for National Statistics (ONS).
United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.