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UK inflation since 1948 UK inflation since 1948
(about 1 month later)
How pay has fallen behind inflationHow pay has fallen behind inflation
UK inflation stood at 2.7% in October 2012, the Office for National Statistics (ONS) revealed today - up from 2.2% in September. UK inflation stood at 2.7% in November 2012, the Office for National Statistics (ONS) revealed today - unchanged from october.
What has brought the level of inflation up? The Office for National Statistics blames University Tuition Fees, which have gone up to £9,000: What has kept inflation high? The Office for National Statistics blames the rising cost of food and home energy bills, which offset falling petrol prices in November to leave the annual rate of inflation unchanged.
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/>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%.
The CPI rose by 0.5 per cent between September and October this year compared with a rise of 0.1% a year ago. this is the joint largest (with 2007) increase in the CPI between these two months since records began in 1996. The CPI rose by 2.7% between October 2011 and October 2012 Measured on the retail prices index (RPI), which includes mortgage interest payments, the inflation rate was 3% in November, down from 3.2% in October.
The ONS publish two measures of inflation. The consumer price index (CPI) measure of inflation which we have quoted above. In September last year, 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 last year, 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 2.9% for August, down from 3.2% in July. We have also added in pay data - and you can see how inflation has been racing ahead of average earnings. Even with the falls today, people's wages are not increasing as fast as the cost of living.The second measure is the retail price index (RPI) which stands at 2.9% for August, down from 3.2% in July. We have also added in pay data - and you can see how inflation has been racing ahead of average earnings. Even with the falls today, people's wages are not increasing as fast as the cost of living.
There are some important differences between the two ways the ONS measure 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 tyou want to see how different elements of inflation have changed, check out this interactive data explorer from Timetric.If tyou 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.

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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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