UK inflation is running at almost twice its 2% target
Contributions to CPI inflation, percentage points
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
CPI
inflation
Bank staff
projection
8
6
Sep 2025
3.8%
2%
target
4
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
Bank staff
projection
CPI
inflation
8
6
Sep 2025
3.8%
2%
target
4
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
Bank staff
projection
8
CPI
inflation
6
Sep 2025
3.8%
4
2%
target
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
Bank staff
projection
8
6
CPI inflation
Sep 2025
3.8%
4
2% target
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
CPI
inflation
Bank staff
projection
8
6
Sep 2025
3.8%
2%
target
4
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
Bank staff
projection
CPI
inflation
8
6
Sep 2025
3.8%
2%
target
4
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
Bank staff
projection
8
CPI
inflation
6
Sep 2025
3.8%
4
2%
target
2
0
-2
2021
2022
2023
2024
2025
2026
Fuels and lubricants
Electricity and gas
Food
Services
Other goods
10%
Bank staff
projection
8
6
CPI inflation
Sep 2025
3.8%
4
2% target
2
0
-2
2021
2022
2023
2024
2025
2026