United Kingdom Inflation October 2020

United Kingdom

United Kingdom: Inflation increases in October

November 18, 2020

Consumer prices were unchanged in October over the previous month, which was below September's 0.41% rise. The result was driven by falling prices for housing and utilities, and restaurants and hotels.

Inflation edged up to 0.7% in October, from September’s 0.5%, but remained below the Bank of England’s 2.0% target. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.0% in October (September: 1.1%). Lastly, core inflation ticked up to 1.5% from the previous month's 1.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.5% in 2021, unchanged from last month’s forecast, and 1.9% in 2022.


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United Kingdom Inflation Chart

United Kingdom Inflation October 20 20

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

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