United Kingdom Inflation April 2019

United Kingdom

United Kingdom: Inflation rises in April

May 22, 2019

Consumer prices rose 0.6% in April over the previous month, up from March’s 0.2% increase. April’s reading was underpinned by higher prices for housing and utilities, and transport.

Inflation increased from 1.9% to 2.1%, moving marginally above the Bank of England’s (BoE) 2.0% target but coming in slightly below market expectations of 2.2%. Core inflation—which excludes food and energy costs—was unchanged at 1.8%. April’s increase was likely driven in large part by the British energy regulator’s decision to increase energy prices by 10% from 1 April.

Looking ahead, while the energy price hike will provide some upward price pressure over the coming months, inflation is expected to remain close to the Bank’s target amid mild economic momentum.

UK Inflation Forecast

The Bank of England revised down its inflation projections in its May Inflation Report, and now sees inflation at 1.6% in Q4 2019 and 2.0% in Q4 2020. FocusEconomics Consensus Forecast panelists expect inflation to average 1.9% in 2019 and 2.0% in 2020.

Author:, Economist

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United Kingdom Inflation Chart

United Kingdom Inflation April 2019

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

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