Monthly inflation rate and central bank interest rate in the UK 2018-2022
The inflation rate for consumer prices in the United Kingdom fluctuated significantly since January 2018. The inflation rate was the lowest in August 2020 at 0.5 percent. In September 2022, the inflation rate peaked at 8.8 percent.
As the central bank interest rate is one of the primary tools to manage inflation, it also showed similar tendencies in the observed period. From January 2018 to February 2020, the central bank interest rate fluctuated between 0.5 and 0.75 percent. From April 2020 to November 2021, the central bank interest rate was 0.1 percent, and it peaked at 2.25 percent in September 2022.
As the central bank interest rate is one of the primary tools to manage inflation, it also showed similar tendencies in the observed period. From January 2018 to February 2020, the central bank interest rate fluctuated between 0.5 and 0.75 percent. From April 2020 to November 2021, the central bank interest rate was 0.1 percent, and it peaked at 2.25 percent in September 2022.
