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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

March 24, 2021
UK CONSUMER PRICE INDEX, FEBRUARY 2021

The UK Office for National Statistics (ONS) reported that for February 2021, the UK Consumer Price Index including owner-occupiers' housing costs (CPIH) rose by 0.7% compared to February 2020, down from the 0.9% year-over-year increase recorded last month.

Higher prices for transport had the largest upward contribution to the change in the 12 month inflation rate between January and February 2021. Lower prices for clothing, second-hand cars, and games, toys and hobbies had the largest downward contributions to the inflation rate. Year-over-year growth in the Consumer Price Index excluding owner occupiers' housing costs (CPI) was 0.4%. 

In February 2021, 69 CPIH items were unavailable due to increased restrictions related to second wave of COVID-19. The number has been unchanged from January 2021 but down from 72 during lockdown in November 2020.

The UK inflation rate has declined in recent years, from a period in 2017 when it was over 2.5% to around 1.5% at the end of 2019. In 2020, inflation in the UK has fallen further, but to a lesser extent than the decline for inflation in Canada. In recent months inflation in the UK and Canada had similar trend except February 2021.

Sources: United Kingdom Office for National Statistics Statistical bulletin, Annual growth - CPIAnnual growth - CPIH

Statistics Canada.  Table  18-10-0004-01   Consumer Price Index, monthly, not seasonally adjusted



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