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Release: Consumer Price Inflation, July 2014

Released: 19 August 2014 (Latest) Next edition: 16 September 2014

Contact

Richard Campbell

Prices, ONS

cpi@ons.gsi.gov.uk

Telephone: +44 (0) 1633 456900 Recorded Message: +44 (0) 800 0113703

Categories: Economy, Prices, Output and Productivity, Price Indices and Inflation, Consumer Price Indices, Consumer Prices Index, Retail Prices Index

Frequency of release: Monthly

Language: English

Geographical coverage: UK

Geographical breakdown: Country

  • The Consumer Prices Index (CPI) grew by 1.6% in the year to July 2014, down from 1.9% in June.

  • Falls in clothing prices provided the largest contribution to the fall in the rate. Other large downward effects came from the alcohol, financial services and food & non-alcoholic drinks product groups.

  • The largest, partially offsetting, upward effect came from the transport group.

  • CPIH (not a National Statistic) grew by 1.5% in the year to July 2014, down from 1.8% in June. RPIJ grew by 1.8%, down from 2.0% in June.

  • The National Statistics status of CPIH has been discontinued pending work by ONS to investigate and improve the method for measuring owner occupiers' housing costs in this index. Full details can be found on the UK Statistics Authority website and an explanatory note (313.9 Kb Pdf) on the ONS website.

The Retail Prices Index (not a National Statistic) grew by 2.5% in the year ending July 2014, down from 2.6% in June.

The Consumer Price indices datasets contains percentage changes and weights for the CPI, CPIH, RPI and RPIJ and the components that make up these indices.

Consumer Price Inflation Reference Tables, July 2014: (1.49 Mb Excel sheet)  Measures of Inflation data including CPI, CPIH, RPI and RPIJ. These tables complement the Consumer Price Inflation Time Series data sets also available on the ONS website.

Personal Inflation Calculator (PIC): This interactive application allows you to enter your own spending patterns to generate a personal inflation figure. (Note - requires an SVG-enabled web browser, such as Firefox, Safari or Chrome). Further information on the PIC, including how the calculator works and how to calculate your personal inflation rate, can be found in the article ‘The Personal Inflation Calculator’ on the Labour and Market Review (476.1 Kb Pdf) web page.

Further information on Consumer Price Inflation: A new web page for consumer price inflation methodology was launched on 14 July 2014. The new page brings together details of the methodology used to construct the indices, articles, videos and infographics on various aspects of the CPI, CPIH, RPI and RPIJ.

Consumer Prices Advisory Committee (CPAC) Homepage: This page contains links to CPAC papers covering a range of topical consumer price statistics research including the inclusion of owner occupiers' housing costs into the CPI.

These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

Content from the Office for National Statistics.
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