The inflation rate for the Retail Price Index (RPI) in the United Kingdom was 3.4 percent in February 2025, down from 3.6 percent in the previous month. From 2021 onwards, prices in the UK rose rapidly, with the RPI inflation rate peaking at 14.2 percent in October 2022. Although inflation fell in subsequent months, it wasn't until July 2023 that inflation fell below double digits, and as of late 2024, the RPI rate was still above three percent. The CPI and CPIH While the retail price index is still a popular method of calculating inflation, the consumer price index (CPI) is the current main measurement of inflation in the UK. There is also an additional price index, which includes some extra housing costs, known as the Consumer Price Index including homer occupiers' costs (CPIH) index, which is seen by the UK's Office of National Statistics as the official inflation rate. As of December 2024, the CPI inflation rate stood at 2.5 percent, while the CPIH rate was 3.5 percent. Core inflation down in 2024 Another way of measuring inflation is to strip out the volatility of energy and food prices and look at the underlying core inflation rate. As of December 2024, this was 3.2 percent, slightly higher than the overall CPI rate, but more aligned with the overall figure than it was in 2022 and 2023. When inflation peaked at 11.2 percent in October 2022, for example, core inflation stood at just 6.5 percent. After energy prices in 2023 fell relative to 2022, the overall inflation rate in the UK declined quite rapidly, with core inflation overtaking the overall rate in July 2023. During the most recent period of high inflation, core inflation peaked at 7.1 percent in May 2023, and while taking longer to fall than the overall figure, has generally been declining since then.

The inflation rate for the Retail Price Index in the United Kingdom in the fourth quarter of 2022 reached 13.9 percent, before falling in the subsequent quarters. The RPI rate in the fourth quarter of 2024 was 3.5 percent, with an uptick expected in RPI inflation expected in 2025, peaking at 4.6 percent in the third quarter of 2025.

The Retail Price Index (RPI) is one of the main measures of inflation used to calculate the change in the price of goods and services within the British economy. In the fourth quarter of 2024 the index value was 391.2, indicating that the price for a fixed basket of goods had increased by more than 391 percent since 1987. The RPI inflation rate for December 2024 was 3.5 percent, down from 3.6 percent in the previous month. Inflation and UK living standards For UK consumers, high inflation is one of the main drivers of the ongoing cost of living crisis. With wages struggling to keep up with the pace of inflation for a long period between 2021 and 2023, UK households saw their living standards fall significantly. In 2022/23, real household disposable income in the UK is estimated to have fallen by 2.1 percent, which was the biggest fall in living standards since 1956. While there have been some signals that the crisis eased somewhat in 2024, such as falling energy and food inflation, an increasing share of UK households have reported increasing living costs since Summer 2024. Additional inflation indicators Aside from the Retail Price Index, the UK also produces other inflation indices such as the Consumer Price Index (CPI) and the Consumer Price Index including owner occupiers' housing costs (CPIH). While these particular indices measure consumer price increases slightly differently, they both provide an overall picture of rising prices. More specific inflation rates, such as by sector, are also produced, while other indices omit certain items, such as core inflation, which excludes food and energy inflation, to provide a more stable measure of inflation.

Retail Price Index in the United Kingdom decreased to 3.40 percent in February from 3.60 percent in January of 2025. This dataset provides - United Kingdom Retail Price Index YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Consumer Prices Index (CPI) and the Retail Prices Index (RPI) measure the changes from month to month in the cost of a representative 'basket' of goods and services bought by consumers within the UK. This involves weighting together price changes in the indices according to household spending patterns for different categories of goods and services so that each takes its appropriate share. At the beginning of each year the weights used to compile both the CPI and RPI are updated using the latest available information on household spending. Source agency: Office for National Statistics Designation: National Statistics Language: English Alternative title: Updating Weights

The 'shopping basket' of items making up the Consumer Prices Index (CPI) and Retail Prices Index (RPI) are reviewed every year. Some items are taken out of the basket, some are brought in, to reflect changes in the market and to make sure the CPI and RPI are up to date and representative of consumer spending patterns. This article describes the review process and explains how and why the various items in the CPI and RPI baskets are chosen.

Source agency: Office for National Statistics

Designation: National Statistics

Language: English

Alternative title: Basket of Goods

This statistic shows the predicted change in retail prices index (RPI) in the United Kingdom (UK) between 2017 and 2023. A slight and steady decline is forecasted to occur during the period from 2018 to 2023.

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

Inflation Rate in the United Kingdom decreased to 2.80 percent in February from 3 percent in January of 2025. This dataset provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

There are a number of differences between the Consumer Prices Index (CPI) and Retail Prices Index (RPI), including their coverage, population base, commodity measurement and methods of construction. Combined, these differences have meant that, for most of its history, the CPI has been lower than the RPI. One of the main reasons to this difference is the method of construction at the lowest level, where different formulae are used in the CPI and RPI to combine individual prices. This difference is usually referred to as the formula effect. This article will investigate similar formula effects present in the inflation measures of other countries, and where necessary will attempt to explain why the magnitude of the formula effect experienced by other countries differs from that of the UK.

Source agency: Office for National Statistics

Designation: National Statistics

Language: English

Alternative title: International Comparison

In January 2025, the UK inflation rate for goods was one percent and five percent for services. Prices for goods accelerated significantly, sharply between in 2021 and 2022 before falling in 2023. By comparison, prices for services initially grew at a more moderate rate, but have also not fallen as quickly. The overall CPI inflation rate for the UK reached a recent high of 11.1 percent in October 2022 and remained in double-figures until April 2023, when it fell to 8.7 percent. As of December 2024, the UK's inflation rate was 2.5 percent, down from 2.6 percent in the previous month. Sectors driving high inflation In late 2024, communication was the sector with the highest inflation rate, with prices increasing by 6.1 percent as of December 2024. During the recent period of high inflation that eased in 2023, food and energy prices were particular high, with housing and energy inflation far higher than in any other sector, peaking at 26.6 percent towards the end of 2022. High food and energy prices since 2021 have been one of the main causes of the cost of living crisis in the UK, especially for low-income households that spend a higher share of their income on these categories. This is likely one of the factors driving increasing food bank usage in the UK, which saw approximately 3.12 million people use a food bank in 2023/24, compared with 1.9 million just before the COVID-19 pandemic. The global inflation crisis The UK has not been alone in suffering rapid price increases since 2021. After the start of the COVID-19 pandemic, a series of economic and geopolitical shocks had a dramatic impact on the global economy. A global supply chain crisis failed to meet rising demand in 2021, leading to the beginning of an Inflation Crisis, which was only exacerbated by Russia's invasion of Ukraine in February 2022. The war directly influenced the prices of food and energy, as both countries were major exporters of important crops. European imports of hydrocarbons from Russia were also steadily reduced throughout 2022 and 2023, resulting in higher energy prices throughout the year.

Representative items within the Consumer Prices Index including owner occupiers' housing costs, Consumer Prices Index and Retail Prices Index for the basket of goods and services.

United Kingdom RPI Relative to(GDP) Gross Domestic ProductDeflator: 2010=100: Fuel: Solid Fuels data was reported at 102.256 2010=100 in Jun 2018. This records a decrease from the previous number of 104.524 2010=100 for Mar 2018. United Kingdom RPI Relative to(GDP) Gross Domestic ProductDeflator: 2010=100: Fuel: Solid Fuels data is updated quarterly, averaging 75.263 2010=100 from Mar 1996 (Median) to Jun 2018, with 90 observations. The data reached an all-time high of 107.218 2010=100 in Dec 2014 and a record low of 56.386 2010=100 in Sep 1997. United Kingdom RPI Relative to(GDP) Gross Domestic ProductDeflator: 2010=100: Fuel: Solid Fuels data remains active status in CEIC and is reported by Department for Business, Energy and Industrial Strategy. The data is categorized under Global Database’s United Kingdom – Table UK.RB018: Fuel Overview.

(CDID: SGUD) Year - Consumer price inflation time series Time series data for public sector finances and important fiscal aggregates, based on the new European System of Accounts 2010: ESA10 framework.

United Kingdom RPI Relative to(GDP) Gross Domestic ProductDeflator: 2005=100: Fuel: Petrol & Oil data was reported at 128.413 2005=100 in Sep 2013. This records an increase from the previous number of 128.349 2005=100 for Jun 2013. United Kingdom RPI Relative to(GDP) Gross Domestic ProductDeflator: 2005=100: Fuel: Petrol & Oil data is updated quarterly, averaging 81.185 2005=100 from Mar 1970 (Median) to Sep 2013, with 175 observations. The data reached an all-time high of 133.846 2005=100 in Jun 2012 and a record low of 61.421 2005=100 in Dec 1978. United Kingdom RPI Relative to(GDP) Gross Domestic ProductDeflator: 2005=100: Fuel: Petrol & Oil data remains active status in CEIC and is reported by Department for Business, Energy and Industrial Strategy. The data is categorized under Global Database’s UK – Table UK.RB018: Fuel Overview.

The consumer price inflation detailed briefing note contains details of the items contributing to the changes in the CPIH (and RPI), details of any notable movements, a summary of the reconciliation of CPIH and RPI, and the outlook, which looks ahead to next month’s release.

(CDID: CZZW) Year - Consumer price inflation time series Time series data for public sector finances and important fiscal aggregates, based on the new European System of Accounts 2010: ESA10 framework.

In 2024, the annual inflation rate for the United Kingdom was 2.5 percent, with the average rate for 2025 predicted to rise to 3.2 percent. The UK has only recently recovered from a period of elevated inflation, which saw the CPI rate reach 7.3 percent in 2023, and 9.1 percent in 2022. Before 2022, the inflation rate was at its highest in 2011 when it reached 4.5 percent, and was lowest in 2015 when an annual inflation rate of zero percent was recorded. Inflation has been surging in the UK since late 2021, and reached a 41-year-high of 11.1 percent in October 2022. Since that recent peak, inflation has gradually subsided, and was four percent in January 2024. Inflation down but not out in 2024 Although there are some positive signals regarding UK inflation decelerating throughout 2023, prices are still rising at quite a fast rate, especially in certain sectors. Food inflation, for example, only fell below double-figures in November 2023, and was still rising by 6.9 percent in January 2024. As of that month, however, alcohol and tobacco prices were rising faster than any other sector, with an inflation rate of 12.4 percent. Additionally, underlying core inflation, which measures prices rises without food and energy, is slightly above the headline inflation rate, and was 5.1 percent as of the most recent month. With some aspects of inflation seemingly becoming embedded in the UK economy, this will likely prolong the current Cost of Living Crisis engulfing UK households. Inflation crisis across in the world in 2022 The UK has not been 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.

Construction Output Price Indices (OPIs) from January 2014 to December 2024, UK. Summary.