Rate of inflation for food in the United Kingdom (UK) 2015-2020

Between January 2019 and January 2020, food prices in the United Kingdom increased by 1.4 percent. A period of continuous deflation between March 2015 and January 2017 preceded a return to a sustained rise of the cost of food from February 2017 onwards.

Inflation rate and consumer price index

Inflation is commonly measured via the consumer price index, which illustrates changes to prices paid by consumers for a representative basket of goods and services. An annualized percentage change in the price index constitutes a measure of inflation. In order to maintain an inflation rate at a stable level, to enable the general public and businesses to plan their spending, the Government set a two percent inflation target for the Bank of England.

European post-referendum comparison

Recent increases of food prices were linked to severe weather in 2018 as well as the risk of a no-deal Brexit. In the wake of the referendum held on June 23, 2016, when the majority supported the withdrawal from the European Union (EU), trends with respect to food prices remained analogous in the EU as well as the UK. However, in 2019 the UK is forecast to exhibit a higher CPI inflation rate than Germany and France, the other two largest countries in terms of nominal gross domestic product.

Inflation rate for food in the United Kingdom (UK) from March 2015 to January 2020

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Sources

Release date

March 2020

Region

United Kingdom

Survey time period

March 2015 to January 2020

Supplementary notes

2015=100, NSA

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Statistics on "Inflation and price indices of the UK"

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