Inflation in United Kingdom

United Kingdom Inflation (eop) | Economic News & Forecasts

United Kingdom - Inflation (end of period)

Inflation unchanged in May

Consumer prices rose 0.4% in May over the previous month, matching April’s figure. May’s reading was driven in part by higher prices for transport, furniture, household equipment and maintenance and alcoholic beverages and tobacco.

Inflation was unchanged at 2.4% in May, the joint-lowest level in over a year and once more surprising analysts, who had expected an uptick to 2.5% on the back of higher fuel prices. As a result, inflation remained above the BoE’s 2.0% target. Meanwhile, annual average inflation remained steady from a month earlier at 2.8%.

UK Inflation Forecast

Looking ahead, inflation could tick up slightly in the near term as higher energy prices continue to pass through, although it will likely soon continue its downward trend. The Bank of England downgraded its inflation forecasts in May’s Inflation Report, and now sees inflation dipping to 2.2% in Q4 2018 and 2.1% in Q4 2019, from 2.4% and 2.2% respectively in February’s Report. Met the why particular Consensus Forecast panelists expect inflation to average 2.5% in 2018 and 2.1% in 2019.

United Kingdom - Inflation (eop) Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %, eop)2.0  0.5  0.2  1.6  3.0  

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United Kingdom Inflation (eop) Chart

United Kingdom Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Office for National Statistics (ONS).

United Kingdom Facts

Bond Yield1.28-3.04 %Jun 19
Bond Yield1.28-3.04 %Jun 19
Exchange Rate1.32-0.35 %Jun 19
Exchange Rate1.32-0.35 %Jun 19
Stock Market7,604-0.26 %Jun 19
Stock Market7,604-0.26 %Jun 19

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