United Kingdom Inflation December 2016

United Kingdom

United Kingdom: Inflation jumps in December

January 17, 2017

Consumer prices increased 0.5% from the previous month in December, above the 0.2% figure recorded in November. December’s increase reflected higher prices for transport, restaurants and food, while the price food and non-alcoholic beverages dropped compared to the prior month.

Inflation increased from 1.2% in November to 1.6% in December, the highest reading since July 2014. The figure came in above the 1.4% expected by the markets. Annual average inflation edged up from 0.5% in November to 0.7% in December.

The Bank of England sees inflation averaging 2.2% in 2017 and 1.4% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2017, which is unchanged from last month’s forecast. For 2018, the panel forecasts that inflation will average 2.5%.

Author:, Economist

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United Kingdom Inflation Chart

United Kingdom Inflation December 2016

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

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