Inflation in United Kingdom

United Kingdom Inflation | Economic News & Forecasts

United Kingdom - Inflation

Inflation increases in June but remains well below the Bank of England’s target

Consumer prices rose a seasonally-adjusted 0.11% in June over the last month, picking up from May's 0.01% rise. June's result marked the sharpest increase in prices since February. The acceleration was broad-based, with greater price pressures for recreation and culture, transportation, and housing and utilities.

Inflation came in at 0.6% in June, which was up from May’s 0.5%. However, inflation remained well below the Bank of England’s 2.0% target. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.4% in June (May: 1.5%). Core inflation rose to 1.4% from May’s 1.2%.

Inflation is seen remaining notably below the Bank of England’s target this year on weak activity and low fuel prices, notwithstanding recent sterling weakness.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2020, down 0.1 percentage points from last month’s forecast, and 1.4% in 2021.

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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