Inflation United Kingdom 2008
Average inflation: 3.5%
Current Inflation
Inflation is high at 3.5%, well above the ECB target.
Peak and Trough
The highest inflation was in September at 4.8%. The lowest inflation was in January at 2.4%.
- Highest month
- September: 4.8%
- Lowest month
- January: 2.4%
- Difference
- 2.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 11.8%. The lowest price increase was in Clothing and footwear with an average of -6.6%.
- Highest increase
- Education: 11.8%
- Lowest increase
- Clothing and footwear: -6.6%
Historical Context
Current inflation is 1.1% higher than the 5-year average of 2.4%.
- 5-year average
- 2.4%
- 10-year average
- 1.9%
- All-time high (1990)
- 8%
- All-time low (2000)
- 1.2%
Trend
Inflation has remained relatively stable. Compared to 2007, the difference is minimal (+1.1 percentage point).
- Change vs. previous year
- +1.1 percentage points
- Largest monthly swing
- September: +2.8 percentage points
ECB Target
Inflation is 1.5% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 2.4% | -0.3 |
| February | 2.6% | -0.1 |
| March | 2.6% | -0.3 |
| April | 3.0% | +0.3 |
| May | 3.3% | +0.8 |
| June | 3.7% | +1.2 |
| July | 4.2% | +2.2 |
| August | 4.4% | +2.4 |
| September | 4.8% | +2.8 |
| October | 4.2% | +1.9 |
| November | 3.8% | +1.6 |
| December | 3.0% | +0.7 |
| Average | 3.5% |
Data source
Data from OECD. Last updated: 11/01/2026.