Inflation calculator - Bank of England
Use our inflation calculator to check how prices in the UK have changed over time, from 1209 to now. The calculator uses Consumer Price Index (CPI) inflation data from the Office for National Statistics from 1988 onward.
Inflation and the 2% target - Bank of England
Jun 22, 2023 · So if the Consumer Prices Index (CPI) inflation rate is more than 3% or less than 1%, our Governor writes a letter to the Chancellor to explain why and they set out what we'll do to get it back to 2%.
What is inflation? - Bank of England
The basket’s overall price is known as the Consumer Price Index. To calculate the rate of inflation, they compare the CPI with what it was a year ago. The change in the price level over the year is the rate of inflation.
Inflation and price indices - Office for National Statistics
Jan 15, 2025 · The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.5% in the 12 months to December 2024, unchanged from November. On a monthly basis, CPIH rose by 0.3% in...
Inflation forecast: where are prices heading next? | MoneyWeek
Dec 11, 2024 · In September this year, the Consumer Prices Index (CPI) fell below the Bank of England ’s 2% target for the first time in over three years – a landmark moment. But it was short-lived, with...
Inflation in the UK: Economic indicators - House of Commons Library
Jan 15, 2025 · The UK annual inflation rate, as measured by the Consumer Prices Index (CPI), was 2.5% in December 2024, down from 2.6% in November. The largest downward contribution came from hotel and restaurant prices.
Inflation update: CPI rate UNCHANGED at 2.2% with Bank of England …
Sep 18, 2024 · The consumer price index (CPI) remains broadly in line with the Bank of England's desired two per cent target for inflation which means further interest rate cuts could be on the horizon. The central bank's Monetary Policy Committee (MPC) voted narrowly to slash the base from a 16-year high to five per cent with another reduction expected later ...
UK inflation: Consumer Prices Index release dates - MoneyWeek
Jan 15, 2025 · The Bank of England keeps a close eye on CPI when setting interest rates. If inflation is too high, the Bank raises interest rates to slow consumer spending and cool the economy.
UK inflation drops close to BoE target for first time since 2021 - GB …
May 22, 2024 · The Consumer Prices Index (CPI) rose by 2.3 per cent in the 12 months to April 2024, down from 3.2 per cent in March, figures published today show. It marks the lowest level since July 2021 when inflation was recorded at two per cent – the Bank of England’s target level.
Inflation back to Bank of England target - MoneyWeek
Jun 19, 2024 · The Consumer Prices Index (CPI) slowed again in May, hitting the Bank of England’s inflation target for the first time in almost three years. When will interest rates go down?