Consumer price index (CPI) inflation rate in the United Kingdom (UK) 1989-2019

From 1989 until 2019 the Consumer Price Index rate fluctuated between a high of 7 percent in 1990 and low of zero in 2015, indicating no change in prices between 2014 and 2015. Since 2015 there has been a slight increase in CPI rate, reaching 2.7 percent in 2017 and 2.5 percent in 2018. By 2019, the CPI decreased to 1.8.

CPI most popular measure of inflation
Although the retail price index, is still a popular method of calculating inflation, the Office of National Statistics doesn’t define it as an official statistic and promotes the use of the Consumer Price Index instead. 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 evolved to include smart-speakers and omit items such as envelopes.

UK CPI one of the highest in Europe
The United Kingdom’s forecasted CPI rate for 2019 was estimated to be 2.5 percent, which was slightly higher than other European Countries (685943) such as Germany and France which had inflation rates of 1.8 and 1.9 percent forecast for 2019. According to the government’s own forecasts, the inflation rate is expected to be stabilize soon, reaching a rate between 2 and 2.1 percent between 2020 and 2023.

Percentage change year-on-year of the consumer price index (CPI) in the United Kingdom (UK) from 1989 to 2019

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Source

Release date

May 2020

Region

United Kingdom

Survey time period

1989 to 2019

Supplementary notes

CPI overall Index

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Statistics on "Inflation and price indices of the UK"

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