Consumer prices in the UK edged up 0.3 percent year-on-year in November of 2020, below 0.7 percent in October and market forecasts of 0.6 percent. The largest downward contribution came from cost of food and non-alcoholic beverages (-0.6 percent) and clothing and footwear (-3.6 percent, the biggest drop since January of 2010 on increased discounting for the Black Friday) and housing and utilities (-1.4 percent). Such decreases were partially offset by upward contributions from games, toys and hobbies (5.4 percent), and accommodation services (1.1 percent). On a monthly basis, consumer prices were down 0.1 percent, compared to market expectations of a 0.1 percent rise. source: Office for National Statistics
Inflation Rate in the United Kingdom averaged 2.51 percent from 1989 until 2020, reaching an all time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Inflation Rate in the United Kingdom is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in the United Kingdom to stand at 1.50 in 12 months time. In the long-term, the United Kingdom Inflation Rate is projected to trend around 1.90 percent in 2021 and 1.70 percent in 2022, according to our econometric models.