For additional information relating to this article, please contact:
January 16, 2018UK CONSUMER PRICE INDEX, DECEMBER AND 2017 ANNUAL In December 2017, the Consumer Price Index rose by 3.0 per cent over the year since December 2016, down slightly from the year over year rate last month. The rate has been steadily increasing following a period of relatively low inflation in 2015.
The main contributors to upward pressure on the rate were increases in the prices of tobacco, petrol and diesel. Downward pressures came from air fares and recreational goods.
Note: The UK has recently expanded the commentary on CPI to include a second measure, CPIH, that 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 CPI. CPIH was re-designated as a National Statistics on 31 July 2017. More information on the CPIH can be found here.
In December 2017, the CPIH rose by 2.7 per cent over the year since December 2016, down from 2.8 per cent last month.
ANNUAL
Annually, prices in the UK were up 2.7 per cent over 2016 averages. This is higher than both Canada and Nova Scotia (Jan-Nov 2017 vs. 2016 average).
Source: United Kingdom Office for National Statistics CPI Report, Statistics Canada CANSIM 326-0020