Monthly inflation · United Kingdom
United Kingdom Retail Price Index MoM
The United Kingdom Retail Price Index MoM is the change in consumer prices in the United Kingdom from the previous month (or quarter).
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- GBP · pound sterling
- Central bank
- The Bank of England
Latest figures
The latest release for SEP, published on 21 October 2026, came in at 0.1%, in line with the consensus of 0.1%, down from 0.6% the time before.
A result in line with the consensus usually causes little reaction: it was already priced in.
Over the last 12 releases it ranged from -0.5% to 0.8%, averaging 0.3%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 21 Oct 2026 | SEP | 0.1% | 0.1% | 0.6% |
| 16 Sep 2026 | AUG | 0.6% | 0.7% | 0.6% |
| 19 Aug 2026 | JUL | 0.6% | 0.8% | 0.3% |
| 17 Jun 2026 | MAY | 0.2% | 0.5% | 0.7% |
| 20 May 2026 | APR | 0.7% | 1.4% | 0.8% |
| 22 Apr 2026 | MAR | 0.8% | 0.7% | 0.4% |
| 25 Mar 2026 | FEB | 0.4% | 0.5% | -0.5% |
| 18 Feb 2026 | JAN | -0.5% | -0.4% | 0.7% |
| 21 Jan 2026 | DEC | 0.7% | 0.5% | -0.4% |
| 17 Dec 2025 | NOV | -0.4% | – | 0.3% |
| 19 Nov 2025 | OCT | 0.3% | 0.3% | -0.4% |
| 22 Oct 2025 | SEP | -0.4% | -0.1% | 0.4% |
Why it matters
The monthly change is the freshest reading of price pressure: the yearly rate is the sum of the last twelve monthly changes, so today's monthly figure tells you where the yearly rate is heading.
How it is calculated
the Office for National Statistics (ONS) prices a fixed basket of goods and services across the country and compares the index with the previous period. Seasonal patterns (sales, holidays) make raw monthly figures jumpy; some countries also publish seasonally adjusted numbers.
Monthly inflation = index(this month) ÷ index(last month) − 1
Annualised ≈ (1 + monthly)¹² − 1What changes mean
- Compare with the same month in earlier years: January and September often have seasonal jumps.
- 0.2% a month is about the 2% a year most central banks aim for.
Higher than expected: A higher figure than expected makes the Bank of England more likely to keep rates high or raise them: it tends to support the pound sterling and push bond yields up, and is often a weight on stocks.
Lower than expected: A lower figure than expected gives the Bank of England room to cut or hold rates lower: the pound sterling tends to soften and bond yields to fall.
A short history
Monthly price indexes date from the early 20th century; many countries began publishing them during or after the First World War to adjust wages to the cost of living.
Questions
What is the United Kingdom Retail Price Index MoM?
The United Kingdom Retail Price Index MoM is the change in consumer prices in the United Kingdom from the previous month (or quarter).
What was the latest United Kingdom Retail Price Index MoM?
0.1% for SEP, published on 21 October 2026 (consensus 0.1%, previous 0.6%).
When is the next United Kingdom Retail Price Index MoM?
On Wednesday 18 November 2026 at 07:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.