In April, consumer prices added 0.6% over the previous month, which doubled the 0.3% rise registered in March but was in line with market expectations. The increase was mostly the result of higher prices for alcohol and tobacco, transport as well as for housing and household services. In contrast, prices for food and non-alcoholic beverages inched down over the previous month. Despite the strong monthly print, annual inflation moderated from 3.5% in March to 3.0% in April, which represents the lowest rate since February 2010. Building on the lower annual rate, annual average inflation inched down from 4.3% in March to 4.2% in April. 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 falls to lowest level in over two years
May 22, 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.