United Kingdom Inflation December 2015

United Kingdom

Inflation picks up in December

In December, consumer prices increased 0.1% over the previous month, which came in above the flat reading observed in November. The figure reflected higher prices for transport costs.

Consumer prices in December increased 0.2% over the same month of the previous year, which followed the 0.1% increase seen in November and marked the highest reading in nearly a year. The figure overshot the 0.1% increase expected by the markets. Finally, annual average inflation inched down from a 0.1% increase in November to a flat reading in December, which marked the lowest print on record.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel forecasts that inflation will average 1.3%.

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United Kingdom Inflation Chart

United Kingdom Inflation December 2015

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

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