UK inflation: Consumer Prices Index release dates

UK inflation fell to 3.4% in May, down from the previous month’s official reading of 3.5%, but still well above the Bank of England’s 2% target.

However, following a blunder by the Department of Transport, the figures for inflation in April were actually overstated by 10 basis points, meaning inflation was technically at 3.4% in both April and May.

May’s 3.4% inflation reading was widely anticipated by economists who expected that prices would ease slightly after the dramatic bill increases in ‘Awful April’.

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The dip in May’s inflation figures was driven largely by a slowdown in transportation price rises – costs increased 3.3% in the year to April, but only grew by 0.7% in the year to May.

Services inflation also slowed in May to 4.7%, down from 5.4% in April.

The next inflation figures will be published on 16 July. We share a list of all future report dates in 2025, before delving into the inflation outlook.

Next UK inflation figures 

In the UK, the main measure of inflation is the Consumer Prices Index (CPI). The Office for National Statistics (ONS) releases this once a month. Each reading covers the previous month.

Release dates for 2025

• 16 July (covering June)
• 20 August (covering July)
• 17 September (covering August)
• 22 October (covering September)
• 19 November (covering October)
• 17 December (covering November)
• 21 January 2026 (covering December)

What time is CPI released in the UK? 

The ONS releases the latest CPI data at 7.00am once a month. You can access the data by going onto the ONS website and clicking on its release calendar. All published and upcoming releases are listed there. The report will be titled, “Consumer price inflation, UK”, followed by the month and year in question.

MoneyWeek regularly reports on the latest inflation data and what it means for you.

What is CPI and how is it calculated? 

As introduced previously, CPI is the main measure of inflation used in the UK. It tells you how much the cost of living is going up or down.

It is calculated using a typical basket of household goods and services – from eggs, flour and milk to hotel costs, restaurants and air fryers – and tracking how their prices change.

The CPI basket of goods is readjusted once a year to reflect current trends in consumption. For example, VR headsets and yoga mats were added to the basket in 2025, while oven-ready gammon joints and DVD rentals were removed.

The Bank of England keeps a close eye on CPI when setting interest rates. If inflation is too high, the Bank raises interest rates to slow consumer spending and cool the economy.

This works in bringing prices down because households have less money to spend when mortgage rates are high and debts are more expensive to repay.

Meanwhile, if inflation is too low, the Bank may reduce interest rates so consumers have more disposable income to spend. Due to the laws of supply and demand, this pushes prices back up.

Where is inflation heading next?

Despite inflation easing, May’s figures have done little to change the minds of many experts who anticipate that inflation will swell as the year progresses.

This is the view of Edward Allenby, UK economist at Oxford Economics, who says he expects “headline inflation to rise gradually in the coming months, and peak in September”.

Allenby, along with most forecasters, argues that we can expect inflation to start falling back down to more manageable levels in the final quarter of the year.

“From the autumn, inflation is likely to cool as the positive contribution from the energy category disappears," he adds.

The consensus view at Oxford Economics is that UK inflation will average 3.3% this year, with this figure falling to 2.6% in 2026.

The Bank of England has said they expect inflation to peak in September and have predicted since the start of 2025 that inflation will reach as high as 3.75% before falling closer to the 2% target in early 2026.

The level of inflation in the economy helps inform the Bank of England whether or not they should raise or lower interest rates. The day after inflation figures were announced, the Bank of England made the decision to hold interest rates at 4.25%.

If high inflation persists, the ability of the central bank to lower interest rates (and stimulate the economy) will be greatly limited. The next meeting of the Monetary Policy Committee (who decides interest rates) is 7 August.