Consumer price index (CPI) forecast UK 2017-2023

Forecasted percentage change on a year earlier of the consumer price index (CPI) in the United Kingdom from 2017 to 2023

by Daniel Clark, last edited Aug 9, 2019
Consumer price index (CPI) forecast UK 2017-2023 The consumer price index of the United Kingdom is forecasted to be generally stable in the near future, and only change by percentage of between 2 and 2.1 percent up until 2023. In early 2019 the CPI rate was even lower than this at 1.8 percent.
Peak of 4.5 in 2011
The consumer price index is the most important measure of inflation within an economy and calculates how the cost of a typical basked of consumer goods changes over time. In the period between 2000 and 2018, the CPI rate was at its highest in 2011 when it reached 4.5 percent and at its lowest in 2015 when it was zero percent.  

Global comparisons
While the 4.5 percent inflation rate reported by the UK in 2011 was certainly not ideal for the British economy, it pales in comparison to the countries with the worst inflation rate in the world in 2018, with the Venezuelan inflation rate a massive 929 thousand percent.
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Forecasted percentage change on a year earlier of the consumer price index (CPI) in the United Kingdom from 2017 to 2023

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