Coronavirus: Economic impact
The pandemic has led to a severe recession. This briefing examines different aspects of the economic impact of the crisis to date and outlines the key issues for the economic outlook.
Documents to download
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Inflation: Key Economic Indicators (80 KB, PDF)
The Consumer Prices Index (CPI) is the main measure of inflation. It is produced in line with international standards and is the measure used for the Bank of England’s 2% inflation target. The Retail Prices Index (RPI) is no longer classified as a National Statistic as the way it is calculated does not meet international standards. It is included here as it is well-known and is the longest running measure of inflation.
The CPI inflation rate was 0.7% in January 2021, up from 0.6% in December 2020.
The RPI inflation rate was 1.4% in January 2021, up from 1.2% in December.
The largest contributions to the CPI rate came from recreation and culture. Falling clothing and footwear prices made the largest downward contributions.
Related Links
Documents to download
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Inflation: Key Economic Indicators (80 KB, PDF)
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Spring Budget 2021: Background briefing
Spring Budget 2021 which will take place on 3 March 2021. The Office for Budget Responsibility (OBR) will publish revised forecasts for the economy and public finances on the same day.
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Coronavirus business support schemes: statistics
This paper collates data on the number of applications and total support provided under the UK Government coronavirus business support schemes. The attached excel spreadsheet allows users to view data by Parliamentary constituency.
