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 2.3% in July 2018, unchanged from June 2018.
Rising prices for computer games and transport fares produced the largest upward contributions to change in the 12-month rate between June and July 2018, although computer game prices tend to be highly variable from month to month.
The upward effects were offset by falls in prices for clothing and footwear, and the removal of initial charges for investment in some unit trusts.
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.