The rate of increase in prices for goods and services. Measures of inflation and prices include consumer price inflation, producer price inflation, the house price index, index of private housing rental prices, and construction output price indices.
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.0% in December 2018, down from 2.2% in November 2018.
The largest downward contributions to change in the 12-month rate came from falls in petrol prices and from air fares, where ticket prices rose between November and December 2018, but by less than a year ago.
These downward effects were offset by upward contributions from a variety of categories including accommodation services and, to a lesser extent, mobile phone charges, games, toys and hobbies, and food.
Price quote data and item indices that underpin consumer price inflation statistics are now published, giving users unprecedented access to the detailed data that is used in the construction of the UK's inflation figures. With effect from January 2017 Consumer price inflation publication, these data are published on a monthly basis showing the latest month.