Inflation United Kingdom 2022
Average inflation: 7.9%
Current Inflation
Inflation is very high at 7.9%, far above the ECB target.
Peak and Trough
The highest inflation was in October at 9.6%. The lowest inflation was in January at 4.9%.
- Highest month
- October: 9.6%
- Lowest month
- January: 4.9%
- Difference
- 4.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 11.8%. The lowest price increase was in Communication with an average of 2.2%.
- Highest increase
- Transport: 11.8%
- Lowest increase
- Communication: 2.2%
Historical Context
Current inflation is 4.8% higher than the 5-year average of 3.1%. This approaches the highest level since records began (7.9% in 2022).
- 5-year average
- 3.1%
- 10-year average
- 2.3%
- All-time high (2022)
- 7.9%
- All-time low (2015)
- 0.4%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +5.4 percentage point.
- Change vs. previous year
- +5.4 percentage points
- Largest monthly swing
- July: +6.7 percentage points
ECB Target
Inflation is 5.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €107.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 4.9% | +4.0 |
| February | 5.5% | +4.8 |
| March | 6.2% | +5.2 |
| April | 7.8% | +6.2 |
| May | 7.9% | +5.8 |
| June | 8.2% | +5.8 |
| July | 8.8% | +6.7 |
| August | 8.6% | +5.6 |
| September | 8.8% | +5.9 |
| October | 9.6% | +5.8 |
| November | 9.3% | +4.7 |
| December | 9.2% | +4.4 |
| Average | 7.9% |
Data source
Data from OECD. Last updated: 11/01/2026.