In February, consumer prices added 0.6% over the previous month, which contrasted the 0.5% price drop recorded in January. The increase was mainly driven by higher prices for clothing and footwear as well as for food and non-alcoholic beverages. Despite the monthly rise, annual headline inflation maintained the downward trend seen since September 2011 and dropped from 3.6% in January to 3.4% in February, which represents the lowest level since November 2010. Meanwhile, annual average inflation remained unchanged at January's 4.4%. According to its February Inflation Report, the Bank of England expects inflation to average 2.7% this year.
United Kingdom Inflation
Inflation maintains downward trend in February
March 20, 2012
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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.