100+ datasets found
  1. Inflation rate in the UK 2015-2025

    • statista.com
    Updated Oct 24, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Statista (2025). Inflation rate in the UK 2015-2025 [Dataset]. https://www.statista.com/statistics/306648/inflation-rate-consumer-price-index-cpi-united-kingdom-uk/
    Explore at:
    Dataset updated
    Oct 24, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Jan 2015 - Aug 2025
    Area covered
    United Kingdom
    Description

    The UK inflation rate was 3.8 percent in September 2025, unchanged from the previous two months, and the fastest rate of inflation since January 2024. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022. Due to this long period of high inflation, UK consumer prices have increased by over 20 percent in the last three years. As of the most recent month, prices were rising fastest in the education sector, at 7.5 percent, with prices increasing at the slowest rate in the clothing and footwear sector. The Cost of Living Crisis High inflation is one of the main factors behind the ongoing Cost of Living Crisis in the UK, which, despite subsiding somewhat in 2024, is still impacting households going into 2025. In December 2024, for example, 56 percent of UK households reported their cost of living was increasing compared with the previous month, up from 45 percent in July, but far lower than at the height of the crisis in 2022. After global energy prices spiraled that year, the UK's energy price cap increased substantially. The cap, which limits what suppliers can charge consumers, reached 3,549 British pounds per year in October 2022, compared with 1,277 pounds a year earlier. Along with soaring food costs, high-energy bills have hit UK households hard, especially lower income ones that spend more of their earnings on housing costs. As a result of these factors, UK households experienced their biggest fall in living standards in decades in 2022/23. Global inflation crisis causes rapid surge in prices The UK's high inflation, and cost of living crisis in 2022 had its origins in the COVID-19 pandemic. Following the initial waves of the virus, global supply chains struggled to meet the renewed demand for goods and services. Food and energy prices, which were already high, increased further in 2022. Russia's invasion of Ukraine in February 2022 brought an end to the era of cheap gas flowing to European markets from Russia. The war also disrupted global food markets, as both Russia and Ukraine are major exporters of cereal crops. As a result of these factors, inflation surged across Europe and in other parts of the world, but typically declined in 2023, and approached more usual levels by 2024.

  2. y

    UK CPIH Inflation Rate

    • ycharts.com
    html
    Updated Nov 19, 2025
    + more versions
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2025). UK CPIH Inflation Rate [Dataset]. https://ycharts.com/indicators/uk_cpih_inflation_rate
    Explore at:
    htmlAvailable download formats
    Dataset updated
    Nov 19, 2025
    Dataset provided by
    YCharts
    Authors
    Office for National Statistics
    License

    https://www.ycharts.com/termshttps://www.ycharts.com/terms

    Time period covered
    Jan 31, 1989 - Oct 31, 2025
    Area covered
    United Kingdom
    Variables measured
    UK CPIH Inflation Rate
    Description

    View monthly updates and historical trends for UK CPIH Inflation Rate. from United Kingdom. Source: Office for National Statistics. Track economic data wi…

  3. T

    United Kingdom Inflation Rate

    • tradingeconomics.com
    • de.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Nov 19, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    TRADING ECONOMICS (2025). United Kingdom Inflation Rate [Dataset]. https://tradingeconomics.com/united-kingdom/inflation-cpi
    Explore at:
    csv, xml, json, excelAvailable download formats
    Dataset updated
    Nov 19, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 1989 - Oct 31, 2025
    Area covered
    United Kingdom
    Description

    Inflation Rate in the United Kingdom decreased to 3.60 percent in October from 3.80 percent in September of 2025. This dataset provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

  4. Core inflation rate of the UK 2015-2025

    • statista.com
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Statista, Core inflation rate of the UK 2015-2025 [Dataset]. https://www.statista.com/statistics/1317058/uk-core-inflation-rate/
    Explore at:
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    The core inflation rate for the UK was 3.5 percent in September 2025, up from 3.8 percent in the previous month. Core inflation measures inflation without food and energy prices, which can be far more volatile than inflation for other goods and services.

  5. CPI inflation rate in the UK 2025, by sector

    • statista.com
    • abripper.com
    Updated Nov 28, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Statista (2025). CPI inflation rate in the UK 2025, by sector [Dataset]. https://www.statista.com/statistics/281724/consumer-price-index-cpi-united-kingdom/
    Explore at:
    Dataset updated
    Nov 28, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Oct 2025
    Area covered
    United Kingdom
    Description

    In October 2025, the UK inflation rate was 3.8 percent, with prices rising fastest in the housing sector, which had an inflation rate of 7.3 percent. In this month, prices were rising in all sectors, with prices rising at the slowest pace in the furniture, household equipment and maintenance sector. UK inflation falls in 2024 After reaching a peak of 11.1 percent in October 2022, the CPI inflation rate in the UK gradually declined over several months, falling to a low of 1.7 percent by August 2024. An uptick in inflation has occurred since that month, however, and by the end of the year, inflation was at 2.5 percent above the Bank of England's target rate of two percent. Going into 2025, recent forecasts suggest that over the course of the year, inflation will average out at 2.6 percent, with the two percent target not met on an annual basis until at least 2029. Roots of the inflation crisis This long period of high inflation that the UK and much of the world experienced had its roots in the post-pandemic economic recovery of 2021. During that year, as consumer demand returned, global supply chains struggled to return to full capacity, resulting in prices rising. With inflation already elevated going into 2022, Russia's invasion of Ukraine added even more inflationary pressures to the global economy. European markets which were heavily reliant on Russian oil and gas gradually phased out hydrocarbons from their economies. Food prices were also heavily impacted due to Ukraine's difficulty in exporting its agricultural products.

  6. T

    United Kingdom Core Inflation Rate

    • tradingeconomics.com
    • ar.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Nov 19, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    TRADING ECONOMICS (2025). United Kingdom Core Inflation Rate [Dataset]. https://tradingeconomics.com/united-kingdom/core-inflation-rate
    Explore at:
    json, xml, excel, csvAvailable download formats
    Dataset updated
    Nov 19, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 1997 - Oct 31, 2025
    Area covered
    United Kingdom
    Description

    Core consumer prices in the United Kingdom increased 3.40 percent in October of 2025 over the same month in the previous year. This dataset provides - United Kingdom Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

  7. T

    United Kingdom Inflation Rate MoM

    • tradingeconomics.com
    • pt.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    TRADING ECONOMICS, United Kingdom Inflation Rate MoM [Dataset]. https://tradingeconomics.com/united-kingdom/inflation-rate-mom
    Explore at:
    xml, csv, excel, jsonAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 29, 1988 - Oct 31, 2025
    Area covered
    United Kingdom
    Description

    The Consumer Price Index in the United Kingdom increased 0.40 percent in October of 2025 over the previous month. This dataset provides - United Kingdom Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

  8. y

    UK Core Inflation Rate

    • ycharts.com
    html
    Updated Nov 19, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2025). UK Core Inflation Rate [Dataset]. https://ycharts.com/indicators/uk_core_inflation_rate
    Explore at:
    htmlAvailable download formats
    Dataset updated
    Nov 19, 2025
    Dataset provided by
    YCharts
    Authors
    Office for National Statistics
    License

    https://www.ycharts.com/termshttps://www.ycharts.com/terms

    Time period covered
    Jan 31, 1997 - Oct 31, 2025
    Area covered
    United Kingdom
    Variables measured
    UK Core Inflation Rate
    Description

    View monthly updates and historical trends for UK Core Inflation Rate. from United Kingdom. Source: Office for National Statistics. Track economic data wi…

  9. Consumer price inflation tables

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Oct 22, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2025). Consumer price inflation tables [Dataset]. https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflation
    Explore at:
    xlsxAvailable download formats
    Dataset updated
    Oct 22, 2025
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Description

    Measures of monthly UK inflation data including CPIH, CPI and RPI. These tables complement the consumer price inflation time series dataset.

  10. CPI annual inflation rate UK 2019-2030

    • statista.com
    Updated Nov 27, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Statista (2025). CPI annual inflation rate UK 2019-2030 [Dataset]. https://www.statista.com/statistics/306720/cpi-rate-forecast-uk/
    Explore at:
    Dataset updated
    Nov 27, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    In 2025, the average annual inflation rate for the United Kingdom is expected to 3.5 percent, with the average rate for 2026 predicted to fall to 2.5 percent. Inflation in the UK increased at a faster rate than expected, with the rate revised upwards from an earlier prediction of 3.2 percent. Like many countries, the UK has only recently recovered from a period of elevated inflation, which saw the CPI rate reach 9.1 percent in 2022, and 7.3 percent in 2023. Despite the recent uptick in 2025, the inflation rate is expected to fall to 2.5 percent in 2026, and to two percent between 2027 and 2029. UK inflation crisis Between 2021 and 2023, inflation surged in the UK, reaching a 41-year-high of 11.1 percent in October 2022. Although inflation fell to more usual levels by 2024, prices in the UK had already increased by over 20 percent relative to the start of the crisis. The two main drivers of price increases during this time were food and energy inflation, two of the main spending areas of UK households. Although food and energy prices came down quite sharply in 2023, underlying core inflation, which measures prices rises without food and energy, remained slightly above the headline inflation rate throughout 2024, suggesting some aspects of inflation had become embedded in the UK economy. Inflation rises across in the world in 2022 The UK was not alone in suffering from runaway inflation over the last few years. From late 2021 onwards, various factors converged to encourage a global acceleration of prices, leading to the ongoing inflation crisis. Blocked-up supply chains were one of the main factors as the world emerged from the COVID-19 pandemic. This was followed by energy and food inflation skyrocketing after Russia's invasion of Ukraine. Central bank interest rates were raised globally in response to the problem, possibly putting an end to the era of cheap money that has defined monetary policy since the financial crash of 2008.

  11. UK Consumer price inflation (1989 - 2023)

    • kaggle.com
    zip
    Updated Jun 13, 2023
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Matarr Gaye (2023). UK Consumer price inflation (1989 - 2023) [Dataset]. https://www.kaggle.com/datasets/matarrgaye/uk-consumer-price-inflation-quarterly-and-annual
    Explore at:
    zip(16370 bytes)Available download formats
    Dataset updated
    Jun 13, 2023
    Authors
    Matarr Gaye
    License

    https://creativecommons.org/publicdomain/zero/1.0/https://creativecommons.org/publicdomain/zero/1.0/

    Area covered
    United Kingdom
    Description

    This dataset contains all the data tables related to the consumer trends statistical release published in March 2023 by the Office for National Statistics (ONS) from Q1 1989 - 2023.

    The rate of inflation is the change in prices for goods and services over time. Measures of inflation and prices include consumer price inflation, producer price inflation and the House Price Index.

    Throughout these tables, Q1 refers to Quarter 1 (January to March), Q2 refers to Quarter 2 (April to June), Q3 refers to Quarter 3 (July to September), and Q4 refers to Quarter 4 (October to December).

  12. M

    U.K. Inflation Rate | Historical Data | Chart | 1960-2024

    • macrotrends.net
    csv
    Updated Oct 31, 2025
    + more versions
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    MACROTRENDS (2025). U.K. Inflation Rate | Historical Data | Chart | 1960-2024 [Dataset]. https://www.macrotrends.net/datasets/global-metrics/countries/gbr/united-kingdom/inflation-rate-cpi
    Explore at:
    csvAvailable download formats
    Dataset updated
    Oct 31, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 1960 - Dec 31, 2024
    Area covered
    United Kingdom
    Description

    Historical dataset showing U.K. inflation rate by year from 1960 to 2024.

  13. CPI-consistent inflation rate estimates for UK household groups (democratic...

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Feb 15, 2023
    + more versions
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2023). CPI-consistent inflation rate estimates for UK household groups (democratic weighting) [Dataset]. https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/cpiconsistentinflationrateestimatesforukhouseholdgroupsdemocraticweighting
    Explore at:
    xlsxAvailable download formats
    Dataset updated
    Feb 15, 2023
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Area covered
    United Kingdom
    Description

    Quarterly data on democratically weighted and CPI-consistent indices, annual inflation rates, expenditure shares and contributions for UK household groups.

  14. Rate of inflation for food in the United Kingdom (UK) 2015-2025

    • statista.com
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Statista, Rate of inflation for food in the United Kingdom (UK) 2015-2025 [Dataset]. https://www.statista.com/statistics/537050/uk-inflation-rate-food-in-united-kingdom/
    Explore at:
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Mar 2015 - Jul 2025
    Area covered
    United Kingdom
    Description

    In July 2025, the inflation rate for food prices in the United Kingdom was measured at 4.9 percent. A period of continuous deflation between March 2015 and January 2017 preceded a return to a sustained rise in the cost of food from February 2017 onwards. While food prices were deflating between September 2020 and July 2021, they started increasing rapidly from August 2021 to March 2023. The inflation rate started to decline from April 2023, but is picking up again in 2025.Inflation rate and consumer price indexInflation 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. The discounter boom The increase in food prices in the United Kingdom has shifted shopping behaviors amongst consumers. Value is now key and shoppers are changing their retailer loyalties. Aldi, the German discount supermarket retailer, overtook Morrisons as Great Britain's fourth largest supermarket in September of 2022. Aldi's market share reached double digits for the first time in April 2023. It is yet to be seen if Lidl, Aldi's discounter competitor, can also continue to rise up in the ranks and eventually take over Morrisons as the fifth leading food retailer.

  15. Consumer price inflation time series

    • ons.gov.uk
    • cy.ons.gov.uk
    csdb, csv, xlsx
    Updated Nov 19, 2025
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2025). Consumer price inflation time series [Dataset]. https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceindices
    Explore at:
    csv, csdb, xlsxAvailable download formats
    Dataset updated
    Nov 19, 2025
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Description

    Comprehensive database of time series covering measures of inflation data for the UK including CPIH, CPI and RPI.

  16. T

    INFLATION RATE by Country in EUROPE

    • tradingeconomics.com
    csv, excel, json, xml
    Updated Dec 2, 2025
    + more versions
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    TRADING ECONOMICS (2025). INFLATION RATE by Country in EUROPE [Dataset]. https://tradingeconomics.com/country-list/inflation-rate?continent=europe
    Explore at:
    json, excel, csv, xmlAvailable download formats
    Dataset updated
    Dec 2, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    2025
    Area covered
    Europe
    Description

    This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

  17. CPIH-consistent inflation rate estimates for UK household groups: 2005 to...

    • gov.uk
    • s3.amazonaws.com
    Updated May 20, 2020
    + more versions
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2020). CPIH-consistent inflation rate estimates for UK household groups: 2005 to 2020 [Dataset]. https://www.gov.uk/government/statistics/cpih-consistent-inflation-rate-estimates-for-uk-household-groups-2005-to-2020
    Explore at:
    Dataset updated
    May 20, 2020
    Dataset provided by
    GOV.UKhttp://gov.uk/
    Authors
    Office for National Statistics
    Area covered
    United Kingdom
    Description

    Official statistics are produced impartially and free from political influence.

  18. T

    United Kingdom Core Inflation Rate MoM

    • tradingeconomics.com
    • zh.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Mar 7, 2024
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    TRADING ECONOMICS (2024). United Kingdom Core Inflation Rate MoM [Dataset]. https://tradingeconomics.com/united-kingdom/core-inflation-rate-mom
    Explore at:
    json, xml, csv, excelAvailable download formats
    Dataset updated
    Mar 7, 2024
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 29, 1988 - Oct 31, 2025
    Area covered
    United Kingdom
    Description

    Core Inflation Rate MoM in the United Kingdom increased to 0.30 percent in October from 0 percent in September of 2025. This dataset includes a chart with historical data for the United Kingdom Core Inflation Rate MoM.

  19. Consumer price inflation, UK: December 2024

    • gov.uk
    Updated Jan 15, 2025
    + more versions
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    Office for National Statistics (2025). Consumer price inflation, UK: December 2024 [Dataset]. https://www.gov.uk/government/statistics/consumer-price-inflation-uk-december-2024
    Explore at:
    Dataset updated
    Jan 15, 2025
    Dataset provided by
    GOV.UKhttp://gov.uk/
    Authors
    Office for National Statistics
    Area covered
    United Kingdom
    Description

    Official statistics are produced impartially and free from political influence.

  20. T

    United Kingdom Food Inflation

    • tradingeconomics.com
    • jp.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Mar 3, 2023
    Share
    FacebookFacebook
    TwitterTwitter
    Email
    Click to copy link
    Link copied
    Close
    Cite
    TRADING ECONOMICS (2023). United Kingdom Food Inflation [Dataset]. https://tradingeconomics.com/united-kingdom/food-inflation
    Explore at:
    excel, csv, json, xmlAvailable download formats
    Dataset updated
    Mar 3, 2023
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 1989 - Oct 31, 2025
    Area covered
    United Kingdom
    Description

    Cost of food in the United Kingdom increased 4.90 percent in October of 2025 over the same month in the previous year. This dataset provides the latest reported value for - United Kingdom Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Share
FacebookFacebook
TwitterTwitter
Email
Click to copy link
Link copied
Close
Cite
Statista (2025). Inflation rate in the UK 2015-2025 [Dataset]. https://www.statista.com/statistics/306648/inflation-rate-consumer-price-index-cpi-united-kingdom-uk/
Organization logo

Inflation rate in the UK 2015-2025

Explore at:
12 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Oct 24, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Time period covered
Jan 2015 - Aug 2025
Area covered
United Kingdom
Description

The UK inflation rate was 3.8 percent in September 2025, unchanged from the previous two months, and the fastest rate of inflation since January 2024. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022. Due to this long period of high inflation, UK consumer prices have increased by over 20 percent in the last three years. As of the most recent month, prices were rising fastest in the education sector, at 7.5 percent, with prices increasing at the slowest rate in the clothing and footwear sector. The Cost of Living Crisis High inflation is one of the main factors behind the ongoing Cost of Living Crisis in the UK, which, despite subsiding somewhat in 2024, is still impacting households going into 2025. In December 2024, for example, 56 percent of UK households reported their cost of living was increasing compared with the previous month, up from 45 percent in July, but far lower than at the height of the crisis in 2022. After global energy prices spiraled that year, the UK's energy price cap increased substantially. The cap, which limits what suppliers can charge consumers, reached 3,549 British pounds per year in October 2022, compared with 1,277 pounds a year earlier. Along with soaring food costs, high-energy bills have hit UK households hard, especially lower income ones that spend more of their earnings on housing costs. As a result of these factors, UK households experienced their biggest fall in living standards in decades in 2022/23. Global inflation crisis causes rapid surge in prices The UK's high inflation, and cost of living crisis in 2022 had its origins in the COVID-19 pandemic. Following the initial waves of the virus, global supply chains struggled to meet the renewed demand for goods and services. Food and energy prices, which were already high, increased further in 2022. Russia's invasion of Ukraine in February 2022 brought an end to the era of cheap gas flowing to European markets from Russia. The war also disrupted global food markets, as both Russia and Ukraine are major exporters of cereal crops. As a result of these factors, inflation surged across Europe and in other parts of the world, but typically declined in 2023, and approached more usual levels by 2024.

Search
Clear search
Close search
Google apps
Main menu