16 April 2025
The UK’s inflation rate has dropped slightly to 2.6% according to Office for National Statistics (ONS).
From the start of 2025, the Consumer Price Index (CPI) sat at 3% in January with a fall to 2.8% in February. This month we have seen another decrease. One of the key factors is the direct result of fuel costs, which have decreased by 5.3% in the last 12 months.
The reason we inform you of the CPI, is because it has a direct impact on statutory payments and the rate at which they increase. Typically, in the Autumn budget, payments increase by the September CPI rate. The policy team therefore keep an eye on these rates throughout the year, and we share findings with you.
Keep an eye out for the next CPI update released on 21 May.
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