Consumer Price Inflation - UK
Consumer Price Inflation, January 2015 | 17 February 2015
Office for National Statistics | 6
The CPI fell by 0.9% between December 2014 and January 2015 – the largest monthly fall since
January 2001. This compares with a smaller fall of 0.6% between the same two months a year
earlier. The 1-month movement was therefore 0.3 percentage points lower this year compared with a
year ago. This led to the CPI 12-month rate falling from 0.5% in December 2014 to 0.3% in January
2015. The 0.1 percentage point difference between the movements in the annual and monthly rates
is due to rounding.
The largest downward contributions to the change in the CPI 12-month rate between December
2014 and January 2015 came from:
• Transport: prices, overall, fell by 2.0% between December 2014 and January 2015 compared
with a smaller fall of 0.6% between the same two months a year earlier. Most of the downward
contribution came from motor fuel prices falling at a quicker rate than a year ago. The average
petrol price fell by 8.5p per litre between December 2014 and January 2015 to 108.3p. The
average diesel price fell by 7.3p over the same period to 115.6p. Petrol is now at its lowest price
since November 2009 and diesel since February 2010.
• Food & non-alcoholic beverages: prices, overall, fell by 0.7% between December 2014 and
January 2015, compared with a rise of 0.2% between the same two months a year earlier. The
downward contribution came from price movements for food – most notably for milk (where there
were price falls at a number of major supermarket chains for 2 pint cartons) and a range of fruits.
• Alcoholic beverages & tobacco: prices, overall, increased by 1.4% between December 2014
and January 2015, compared with a larger rise of 3.1% between the same two months a year
earlier. Most of the downward contribution came from price movements for alcohol – most
notably beer, where prices usually rise in the new year but fell this year.
• Recreation & culture: prices, overall, fell by 0.9% between December 2014 and January
2015 compared with a smaller fall of 0.5% between the same two months a year earlier. The
downward contribution was broad-based across the sector.
The largest upward contributions to the change in the CPI 12-month rate between December 2014
and January 2015 came from:
• Clothing & footwear: prices, overall, fell by 3.7% between December 2014 and January 2015,
compared with a larger fall of 5.4% between the same two months a year ago. Prices for clothing
always fall in December and January during the winter sales period. However, the fall this winter
was smaller than in recent years with reports of better than expected sales.
• Furniture, household equipment & routine maintenance: prices, overall, fell by 2.5% between
December 2014 and January 2015, compared with a larger fall of 3.1% between the same two
months a year ago. The downward contribution came from a range of goods, most notably
household cleaning products, where there were a number of price recoveries this January
compared with sales a year ago.
Figure C shows the contributions from each part of the CPI basket of goods and services. A larger
version of the chart can be viewed by clicking on it (HTML version only).
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