Inflation in United Kingdom

United Kingdom Inflation | Economic News & Forecasts

United Kingdom - Inflation

Inflation falls to lowest level since September in December

Inflation dropped to 10.5% in December from November’s 10.7%. December's result represented the weakest inflation rate since September. The slowdown was primarily due to softer growth in prices for recreation and culture and transportation.

Annual average inflation rose to 9.1% in December (November: 8.6%). Meanwhile, core inflation ticked up to 6.4% from 6.3%.

Lastly, consumer prices increased 0.37% in December over the previous month, broadly unchanged from the 0.39% increase logged in November. December's result marked the softest rise in prices since January.

FocusEconomics Consensus Forecast panelists expect inflation to average 7.1% in 2023, which is up 0.4 percentage points from last month’s forecast, and 2.8% in 2024.

United Kingdom - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.0  0.7  2.7  2.5  1.8  

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United Kingdom Inflation Chart

United Kingdom Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Office for National Statistics (ONS).

United Kingdom Facts

Value Change Date
Bond Yield0.83-3.04 %Jan 01
Exchange Rate1.33-0.35 %Jan 01

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