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Inflation Rate Trends and Forecast for United Kingdom from 1990 to 2029

Inflation Rate Trends and Forecast for United Kingdom from 1990 to 2029

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TGM StatBox. (2024). Inflation Rate Trends and Forecast for United Kingdom from 1990 to 2029. TGM StatBox.
Chart Details
Data Source: International Monetary Fund (IMF)
Timeframe: 1990-2029
Country: UK
Published date: 2024
Note: The Inflation rate (average consumer prices), as defined by the International Monetary Fund (IMF), measures the annual percentage change in the average level of prices of goods and services consumed by households.
Key Takeaways
Inflation in the UK peaked at 7.5% in 1991 due to high interest rates aimed at curbing overheating in the economy. It stabilized in the early 2000s, averaging around 2%. Global financial crises and Brexit uncertainty caused periodic increases, with a significant spike to 9.1% in 2022 due to global energy and food price shocks.

Forecasts indicate inflation returning to 2.0% by 2025, reflecting tighter monetary policies and stabilized supply chains.

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