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CPI rate forecast UK 2015-2025

As of November 2020, the inflation rate of the Consumer Price Index is expected to be 0.8 percent throughout 2020, before rising to 1.2 percent in 2021, and 1.6 percent in 2022. During the provided time period the inflation rate was at it's highest in 2017 when it reached 2.7 percent.

Inflation target of two percent


The forecasted inflation rate for the CPI, does not fall in line with the UK government’s targeted rate of 2 percent. As of October 2019, the inflation rate for the United Kingdom was 1.5 percent, falling from a high of 3.1 percent almost two years earlier in November 2017. The inflation rate target of the UK government was deemed to be “about right” by 52 percent of people in the UK.

Hyperinflation


In 2018 three countries were suffering from inflation rates of more than 50 percent, Sudan (63.29%), South Sudan (83.49%) and Venezuela (929,789.5%). The very high levels of inflation seen in Venezuela are a symptom of the country’s political and economic crisis, which saw the government attempt to print money in response to economic problems.

Forecasted inflation rate of the Consumer Price Index (CPI) in the United Kingdom from 2015 to 2025

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Sources

Release date

November 2020

Region

United Kingdom

Survey time period

2014 to 2024

Supplementary notes

*Data for 2015 to 2019 is outturn

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Statistics on "The UK economy"

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