UK Inflation Rate (CPI, year over year) and Bank of England Bank Rate

What this number is

The 12-month rate of change in the UK Consumer Prices Index (CPI), all items, as published by the Office for National Statistics (series D7G7). The ONS releases it at 07:00 London time around the middle of each month for the month before. The Bank of England's Bank Rate, set by the Monetary Policy Committee, is shown beside it with the date of the decision that set it.

Why it matters

The Bank of England's remit is 2% on this measure, and the MPC's eight decisions a year are read against it. The print moves sterling, gilt yields and the UK equity funds US investors hold (EWU), and the gap between UK and US inflation is a large part of where the pound trades against the dollar.

Questions readers ask

Is this CPI or CPIH?

CPI. The ONS also publishes CPIH, which adds owner-occupiers' housing costs and council tax and is its lead measure in the release; the Bank of England's target is on CPI, which is why this page carries CPI.

When is the next UK inflation release?

The ONS publishes CPI around the third Wednesday of each month at 07:00 London time, for the previous month. The release calendar is on the ONS site; our International desk covers the print the same morning.

Where does the Bank Rate figure come from?

The Bank of England sets it; this page reads it from the Bank for International Settlements' daily policy-rate series, which mirrors the Bank's decisions. The date shown is the day the current rate took effect.