Consumer Price Inflation - UK
Statistical Bulletin
Office for National Statistics | 1
Consumer Price Inflation, January
2015
Coverage: UK
Date: 17 February 2015
Geographical Area: UK
Theme: Economy
Key points
• The Consumer Prices Index (CPI) grew by 0.3% in the year to January 2015, down from 0.5% in
December 2014.
• Falling prices for motor fuels and food were the main contributors to the slowdown in the rate of
inflation.
• Smaller price falls than a year ago for clothing partially offset the slowdown.
• CPIH (not a National Statistic) grew by 0.4% in the year to January 2015, down from 0.6% in
December 2014.
A brief description of Consumer Price Inflation
Consumer price inflation is the speed at which the prices of goods and services bought by
households rise or fall. Consumer price inflation is estimated by using price indices. One way to
understand a price index is to think of a very large shopping basket containing all the goods and
services bought by households. The price index estimates changes to the total cost of this basket.
ONS consumer price indices are published monthly.
ONS has published a video and an infographic that explain how consumer price inflation is
calculated.
A price index can be used to measure inflation in a number of ways. The most common is to look
at how the index has changed over a year. This is calculated by comparing the price index for the
latest month with the same month a year ago. This is known as the 12-month inflation rate. This
bulletin measures inflation to January 2015, so the 12-month rate measures changes in prices
between January 2014 and January 2015.
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