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In October 2024, the UK inflation rate for goods was -0.3 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 have grown at a more moderate rate, but are currently higher than goods. 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 September 2024, the UK's inflation rate was 1.7 percent, the lowest inflation rate since April 2021.

Sectors driving high inflation

In late 2023, food inflation was replaced by alcohol and tobacco as the sector with the highest inflation rate, with prices in this sector increasing by 12.4 percent as of January 2024. Before food had the highest inflation rate between April and October 2023, housing and energy inflation was far higher than in any other sector, peaking at 26.7 percent in January 2023. 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 2.98 million people use a food bank in 2022/23, 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 have 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 high energy prices throughout the year.

CPI inflation rate for goods and services in the United Kingdom from January 2000 to October 2024

Characteristic	Goods	Services
Oct 24	-0.3%	5%
Sep 24	-1.4%	4.9%
Aug 24	-0.9%	5.6%
Jul 24	-0.6%	5.2%
Jun 24	-1.4%	5.7%
May 24	-1.3%	5.7%
Apr 24	-0.8%	5.9%
Mar 24	0.8%	6%
Feb 24	1.1%	6.1%
Jan 24	1.8%	6.5%
Dec 23	1.9%	6.4%
Nov 23	2%	6.3%
Oct 23	2.9%	6.6%
Sep 23	6.2%	6.9%
Aug 23	6.3%	6.8%
Jul 23	6.1%	7.4%
Jun 23	8.5%	7.2%
May 23	9.7%	7.4%
Apr 23	10%	6.9%
Mar 23	12.8%	6.6%
Feb 23	13.4%	6.6%
Jan 23	13.3%	6%
Dec 22	13.4%	6.8%
Nov 22	14%	6.3%
Oct 22	14.8%	6.3%
Sep 22	13.2%	6.1%
Aug 22	12.9%	5.9%
Jul 22	13.5%	5.7%
Jun 22	12.7%	5.2%
May 22	12.4%	4.9%
Apr 22	12.4%	4.7%
Mar 22	9.4%	4%
Feb 22	8.3%	3.5%
Jan 22	7.2%	3.2%
Dec 21	6.9%	3.4%
Nov 21	6.5%	3.3%
Oct 21	4.9%	3.2%
Sep 21	3.4%	2.6%
Aug 21	3.3%	3%
Jul 21	2.5%	1.6%
Jun 21	2.8%	2.1%
May 21	2.3%	1.9%
Apr 21	1.5%	1.6%
Mar 21	0%	1.5%
Feb 21	-0.5%	1.5%
Jan 21	-0.2%	1.7%
Dec 20	-0.3%	1.5%
Nov 20	-0.8%	1.4%
Oct 20	0%	1.4%
Sep 20	-0.3%	1.4%
Aug 20	-0.2%	0.6%
Jul 20	0%	2.1%
Jun 20	-0.5%	1.8%
May 20	-0.9%	1.9%
Apr 20	-0.4%	2%
Mar 20	0.6%	2.5%
Feb 20	1%	2.5%
Jan 20	1.3%	2.3%
Dec 19	0.6%	2.1%
Nov 19	0.6%	2.5%
Oct 19	0.5%	2.6%
Sep 19	1%	2.5%
Aug 19	1.3%	2.2%
Jul 19	1.7%	2.5%
Jun 19	1.5%	2.5%
May 19	1.5%	2.6%
Apr 19	1.4%	2.9%
Mar 19	1.3%	2.5%
Feb 19	1.3%	2.5%
Jan 19	1.3%	2.5%
Dec 18	1.8%	2.4%
Nov 18	2.1%	2.5%
Oct 18	2.3%	2.5%
Sep 18	2.5%	2.3%
Aug 18	2.8%	2.5%
Jul 18	2.6%	2.3%
Jun 18	2.6%	2.3%
May 18	2.5%	2.3%
Apr 18	2.6%	2.1%
Mar 18	2.4%	2.5%
Feb 18	3%	2.4%
Jan 18	3.2%	2.8%
Dec 17	3.4%	2.5%
Nov 17	3.3%	2.8%
Oct 17	3.3%	2.7%
Sep 17	3.2%	2.7%
Aug 17	3.1%	2.7%
Jul 17	2.7%	2.6%
Jun 17	2.6%	2.7%
May 17	2.9%	2.8%
Apr 17	2.4%	3%
Mar 17	2.5%	2.1%
Feb 17	1.9%	2.8%
Jan 17	1.1%	2.6%
Dec 16	0.7%	2.5%
Nov 16	0.2%	2.2%
Oct 16	-0.4%	2.4%
Sep 16	-0.5%	2.6%
Aug 16	-1.4%	2.8%
Jul 16	-1.4%	2.7%
Jun 16	-1.6%	2.8%
May 16	-1.8%	2.6%
Apr 16	-1.6%	2.4%
Mar 16	-1.6%	2.8%
Feb 16	-1.6%	2.4%
Jan 16	-1.5%	2.3%
Dec 15	-2.1%	2.9%
Nov 15	-1.9%	2.4%
Oct 15	-2.1%	2.2%
Sep 15	-2.4%	2.5%
Aug 15	-2%	2.3%
Jul 15	-1.8%	2.4%
Jun 15	-2%	2.2%
May 15	-1.8%	2.3%
Apr 15	-2%	2%
Mar 15	-2.1%	2.4%
Feb 15	-2%	2.4%
Jan 15	-1.5%	2.4%
Dec 14	-1%	2.3%
Nov 14	-0.2%	2.4%
Oct 14	0.3%	2.5%
Sep 14	0.2%	2.4%
Aug 14	0.6%	2.7%
Jul 14	0.8%	2.5%
Jun 14	1.4%	2.5%
May 14	0.9%	2.2%
Apr 14	0.9%	2.8%
Mar 14	1%	2.3%
Feb 14	1.2%	2.4%
Jan 14	1.4%	2.4%
Dec 13	1.7%	2.4%
Nov 13	1.6%	2.6%
Oct 13	1.7%	2.7%
Sep 13	2.1%	3.4%
Aug 13	2.4%	3%
Jul 13	2.4%	3.1%
Jun 13	2.5%	3.4%
May 13	2%	3.6%
Apr 13	1.7%	3.4%
Mar 13	2%	3.9%
Feb 13	1.9%	3.8%
Jan 13	1.9%	3.7%
Dec 12	2%	3.6%
Nov 12	1.5%	4.2%
Oct 12	1.5%	4.1%
Sep 12	1.4%	3.2%
Aug 12	1.8%	3.2%
Jul 12	1.9%	3.4%
Jun 12	1.8%	3.3%
May 12	2.3%	3.3%
Apr 12	3.1%	2.9%
Mar 12	3.5%	3.4%
Feb 12	3.4%	3.4%
Jan 12	3.5%	3.6%
Dec 11	4.2%	4.2%
Nov 11	5.1%	4.3%
Oct 11	5.6%	4.2%
Sep 11	5.7%	4.6%
Aug 11	4.8%	4.2%
Jul 11	4.5%	4.4%
Jun 11	4.2%	4.2%
May 11	4.4%	4.5%
Apr 11	4.1%	4.9%
Mar 11	3.9%	4.1%
Feb 11	4.4%	4.3%
Jan 11	3.8%	4.1%
Dec 10	3.5%	3.9%
Nov 10	2.9%	3.7%
Oct 10	2.6%	3.8%
Sep 10	2.6%	3.7%
Aug 10	2.4%	4%
Jul 10	2.6%	3.6%
Jun 10	2.8%	3.9%
May 10	3.4%	3.4%
Apr 10	4%	3.5%
Mar 10	3.4%	3.3%
Feb 10	2.9%	3%
Jan 10	3.9%	3%
Dec 09	3.2%	2.6%
Nov 09	1.6%	2.3%
Oct 09	0.8%	2.3%
Sep 09	0%	2.5%
Aug 09	0.6%	2.9%
Jul 09	0.7%	3.1%
Jun 09	0.6%	3.2%
May 09	1.1%	3.5%
Apr 09	1.2%	3.6%
Mar 09	2%	3.9%
Feb 09	2.2%	4.2%
Jan 09	2%	4.2%
Dec 08	1.8%	4.6%
Nov 08	3.7%	4.5%
Oct 08	4.6%	4.3%
Sep 08	5.7%	4.6%
Aug 08	5.1%	4.3%
Jul 08	4.7%	4.1%
Jun 08	3.8%	3.9%
May 08	3%	3.8%
Apr 08	2.3%	3.7%
Mar 08	1.7%	3.4%
Feb 08	1.9%	3.1%
Jan 08	1.3%	3.3%
Dec 07	1.1%	3.3%
Nov 07	1.1%	3.2%
Oct 07	1%	3.4%
Sep 07	0.4%	3.4%
Aug 07	0.1%	3.8%
Jul 07	0.5%	3.5%
Jun 07	1.4%	3.7%
May 07	1.6%	3.6%
Apr 07	2.3%	3.3%
Mar 07	2.5%	3.7%
Feb 07	2%	3.8%
Jan 07	2%	3.6%
Dec 06	2.3%	3.8%
Nov 06	1.8%	3.7%
Oct 06	1.5%	3.6%
Sep 06	1.8%	3.2%
Aug 06	2.2%	2.9%
Jul 06	1.8%	3.2%
Jun 06	1.7%	3.4%
May 06	1.3%	3.3%
Apr 06	0.5%	3.8%
Mar 06	0.2%	3.7%
Feb 06	0.6%	3.7%
Jan 06	0.3%	3.9%
Dec 05	0.3%	3.8%
Nov 05	0.4%	4.1%
Oct 05	0.6%	4.4%
Sep 05	0.7%	4.5%
Aug 05	0.6%	4.6%
Jul 05	0.5%	4.5%
Jun 05	0.2%	4.1%
May 05	-0.1%	4.2%
Apr 05	0.1%	4%
Mar 05	0.2%	3.9%
Feb 05	-0.2%	3.8%
Jan 05	-0.2%	3.7%
Dec 04	-0.1%	3.7%
Nov 04	-0.3%	3.5%
Oct 04	-0.6%	3.2%
Sep 04	-0.8%	3.2%
Aug 04	-0.6%	3.5%
Jul 04	-0.3%	3.4%
Jun 04	0.1%	3.3%
May 04	-0.1%	3.3%
Apr 04	-0.5%	3%
Mar 04	-0.6%	3.1%
Feb 04	-0.4%	3.2%
Jan 04	-0.1%	3.1%
Dec 03	-0.1%	2.8%
Nov 03	-0.3%	3.2%
Oct 03	-0.2%	3.2%
Sep 03	-0.3%	3.4%
Aug 03	-0.1%	3.1%
Jul 03	-0.6%	3.5%
Jun 03	-0.8%	3.3%
May 03	-0.8%	3.7%
Apr 03	-0.8%	4.1%
Mar 03	-0.8%	4.3%
Feb 03	-0.8%	4.4%
Jan 03	-1.2%	4.4%
Dec 02	-1.2%	5.1%
Nov 02	-0.9%	4.5%
Oct 02	-1.2%	4.5%
Sep 02	-1.5%	4.1%
Aug 02	-1.7%	4.3%
Jul 02	-1.5%	4.2%
Jun 02	-2.3%	4.3%
May 02	-1.7%	4%
Apr 02	-0.8%	4.1%
Mar 02	-0.6%	4.3%
Feb 02	-0.5%	4.1%
Jan 02	-0.2%	4%
Dec 01	-1.2%	4%
Nov 01	-1.4%	3.7%
Oct 01	-0.8%	3.9%
Sep 01	-0.7%	4%
Aug 01	-0.4%	4.7%
Jul 01	-0.9%	4.5%
Jun 01	-0.2%	4.3%
May 01	-0.2%	4.3%
Apr 01	-1%	4.2%
Mar 01	-0.8%	3.3%
Feb 01	-1%	3.3%
Jan 01	-1%	3.4%
Dec 00	-1%	3.4%
Nov 00	-0.5%	3.4%
Oct 00	-0.7%	3.5%
Sep 00	-0.7%	3.4%
Aug 00	-1.2%	3.3%
Jul 00	-0.7%	3.2%
Jun 00	-0.6%	3%
May 00	-1%	3%
Apr 00	-0.9%	2.9%
Mar 00	-1.1%	3.4%
Feb 00	-0.6%	3.4%
Jan 00	-0.8%	3.4%

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Release date

November 2024

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Region

United Kingdom

Survey time period

January 2000 to October 2024

Supplementary notes

This statistic is using original data from the Office for National Statistics and includes copyright material from © Crown, licensed under the Open Government License v3.0.

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