United Kingdom Inflation January 2016

United Kingdom

United Kingdom: Inflation picks up in January

January 16, 2016

In January, consumer prices decreased 0.8% over the previous month, which contrasted the 0.1% increase seen in December and marked the lowest reading in a year. The figure reflected lower prices for alcoholic beverages and tobacco.

Inflation rose to 0.3% in January, which was up from the 0.2% seen in December and marked the highest reading in over a year. The figure met market expectations. Finally, annual average inflation was stable at the previous month’s reading.

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%.

Author:, Senior Economist

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United Kingdom Inflation Chart

United Kingdom Inflation January 2016

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

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