RPI inflation rate in the United Kingdom 1949-2019

The inflation rate for the Retail Price Index (RPI) in the United Kingdom was 2.6 percent in 2019. Between 1949 and 2019  the inflation rate of the Retail Price Index fluctuated from a high of 24.2 percent in 1975 and a low of minus 0.5 percent in 2009. Forecasts from the UK government indicate that the RPI will stick to a low rate of either 3.1 or 3.2 percent until at least 2023. 

CPI official measurement
While the retail price index is still a popular method of calculating inflation, the Office of National Statistics instead uses the Consumer Price Index as its official index. In order to stay relevant to the needs of consumers, the basket of goods used to calculate inflation frequently changes, and in recent years has omitted some items such as envelopes.

UK CPI compared to Europe
The United Kingdom’s CPI rate for 2019 was estimated to be slightly higher than other European Countries such as Germany and France which had inflation rates of 1.8 and 1.9 percent forecast for 2019. The UK government’s forecasts that the inflation rate is expected to be stabilize soon, reaching a rate between 2 and 2.1 percent between 2020 and 2023.

Retail Price Index inflation rate in the United Kingdom from 1949 to 2019

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Source

Release date

February 2020

Region

United Kingdom

Survey time period

1949 to 2019

Supplementary notes

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Statistics on "The British Economy"

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