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| Version 11 | Version 12 |
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| UK inflation since 1948 | UK inflation since 1948 |
| (30 days later) | |
| How pay has fallen behind inflation | How pay has fallen behind inflation |
| UK inflation stood at 2.7% in January 2013, the Office for National Statistics (ONS) revealed today - unchanged unchanged for the fourth month in a row. | |
| What has kept inflation high? Larry Elliot writes today: | |
| Britain's annual inflation rate was pegged at 2.7% for the fourth successive month in January, as cheaper clothes and shoes in the new year sales helped offset dearer alcohol and tobacco. | |
| The Office for National Statistics said it was the first time since recent records began in 1996 that inflation as measured by the consumer prices index had remained at the same level for four months. | |
| Living standards have been falling consistently over the past twelve months, as inflation has run well above the rate of pay increases, which the latest labour market data showed averaging at less than 2%. | Living standards have been falling consistently over the past twelve months, as inflation has run well above the rate of pay increases, which the latest labour market data showed averaging at less than 2%. |
| Measured on the retail prices index (RPI), which includes mortgage interest payments, the inflation rate was 3.3% in January up from 3.1% in December 2012. | |
| The ONS publish two measures of inflation. The consumer price index (CPI) measure of inflation which we have quoted above. In September 2011, when the CPI stood at 5.2%, it had never been higher in recorded history. | The ONS publish two measures of inflation. The consumer price index (CPI) measure of inflation which we have quoted above. In September 2011, when the CPI stood at 5.2%, it had never been higher in recorded history. |
| The second measure is the retail price index (RPI) which stands at 3.3% for January. We have also added in pay data - and you can see how inflation has been racing ahead of average earnings. Even with the falls in previous months, people's wages are not increasing as fast as the cost of living. | |
| There are some important differences between the two ways the ONS measures inflation. The government prefers the consumer price index, which also includes services, housing, electricity, food, and transportation, but the retail price index covers more items. The RPI includes housing costs and is used for many pay negotiations and used to be used for pension payments. We've included both here - just click on the links on the spreadsheet. You can get the full list of items in the inflation basket here. | There are some important differences between the two ways the ONS measures inflation. The government prefers the consumer price index, which also includes services, housing, electricity, food, and transportation, but the retail price index covers more items. The RPI includes housing costs and is used for many pay negotiations and used to be used for pension payments. We've included both here - just click on the links on the spreadsheet. You can get the full list of items in the inflation basket here. |
| If you want to see how different elements of inflation have changed, check out this interactive data explorer from Timetric. | If you want to see how different elements of inflation have changed, check out this interactive data explorer from Timetric. |
| We have gathered all the data for inflation since June 1948. Let us know what you can do with this data. | We have gathered all the data for inflation since June 1948. Let us know what you can do with this data. |
| To find out more about how RPI and CPI differ, explore this set of interactive charts. The graphics show a breakdown of the different measures and components of inflation, and you can compare rates between countries. | To find out more about how RPI and CPI differ, explore this set of interactive charts. The graphics show a breakdown of the different measures and components of inflation, and you can compare rates between countries. |
Download the data | Download the data |
| DATA: UK inflation since the 1940s - CPI and RPI INTERACTIVE: how we visualised the data | DATA: UK inflation since the 1940s - CPI and RPI INTERACTIVE: how we visualised the data |
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