In August 2018, the UK Consumer Price Index including owner-occupiers' housing costs (CPIH) rose by 2.4 per cent per compared with July 2017.  This is up from 2.3 per cent compared last month's year-over-year increase.  The largest contributions to rising UK inflation came from recreational and cultural goods and services, transport services, and clothing. Price increases were partially offset by declining prices in furniture and household goods and telecommunications. 

Growth in the Consumer Price Index excluding owner occupiers' housing costs (CPI) has been slightly faster at 2.7 per cent, up from the 2.5 per cent year-over-year pace as reported in July.  

UK inflation has been more volatile than prices in Canada.  Over the last year UK prices rose substantially faster than those in Canada, but in recent months, price growth has been similar for the two countries.

Note: The UK has recently expanded the commentary on the consumer price index to include owner occupiers' housing costs (CPIH).  This includes the costs associated with owning, maintaining and living in one’s own home, known as owner occupiers’ housing costs (OOH), along with Council Tax. Both of these are significant expenses for many households and are not included in the more narrow Consumer Price Index (CPI). CPIH was re-designated as a National Statistics on 31 July 2017.  More information on the CPIH can be found here.

Source: United Kingdom Office for National Statistics Statistical bulletin, Statistics Canada table 18-10-0004-01