The most important key figures provide you with a compact summary of the topic of “The UK economy” and take you straight to the corresponding statistics. Unsurprisingly, the heat wave that spread across the British Isles in 2018 was the result of particularly sunny weather. This was more hours of sun than was recorded in July 2024, which only saw 5.8 hours of sun.
Annual inflation rate of the Retail Price Index in the United Kingdom from 2019 to 2029
There also still exists a noticeable gender pay gap in the UK, which was seven percent for full-time workers in 2024, down from 7.5 percent in 2023. Lastly, the monthly earnings of the top one percent in the UK was 15,887 pounds as of November 2024, far higher than even that of the average for the top five percent, who earned 7,641 pounds per month, while pay for the lowest 10 percent of earners was just 805 pounds per month. On November 4, Reeves made a speech to prepare the public and markets for a hike in income tax rates, which would break a key election promise. After an outcry among Labour lawmakers, and a better-than-expected update on public finances, she reversed course, opting for a smorgasbord of smaller revenue-raising measures.
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The peoples who, over the centuries, have hewed an existence from this Atlantic extremity of Eurasia have put their own imprint on the environment, and the ancient and distinctive palimpsest of their field patterns and settlements complements the natural diversity. The next election doesn’t have to be held until 2029, and the government continues to hope that its economic measures will spur higher growth and ease financial pressures. The budget is a high-stakes moment for Reeves and Prime Minister Keir Starmer, who is facing mounting concern from Labour lawmakers over his dire poll ratings. Opinion polls consistently put Labour well behind the hard-right Reform UK party led by Nigel Farage.
In the three months to September 2025, average weekly earnings in the United Kingdom grew by 4.6 percent. In the same month, the inflation rate for the Consumer Price Index was 3.6 percent, indicating that wages were rising faster than prices that month. Inflation is an important measure of any country’s economy, and the Retail Price Index (RPI) is one of the most widely used indicators in the United Kingdom, with the rate expected to be 4.1 percent in 2025, compared with 3.6 percent in 2024. This followed 2022, when RPI inflation reached a rate of 11.6 percent, by far the highest annual rate during this provided time period. In 2024, the annual inflation rate for the United Kingdom was 2.5 percent, with the average rate for 2025 predicted to rise to 3.5 percent, revised upwards from an earlier prediction. The UK has only recently recovered from a period of elevated inflation, which saw the CPI rate reach 9.1 percent in 2022, and 7.3 percent in 2023.
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- After the Wars of the Roses, the Kingdom of England began to flourish, resulting in the 16th-century annexation of Wales and the establishment of the British Empire.
- This diversity stems largely from the nature and disposition of the underlying rocks, which are westward extensions of European structures, with the shallow waters of the Strait of Dover and the North Sea concealing former land links.
- The Welsh Government is currently a Welsh Labour minority government led by the first minister, Eluned Morgan.
- On November 4, Reeves made a speech to prepare the public and markets for a hike in income tax rates, which would break a key election promise.
- Since 2022 the UK has been both the world’s fourth-largest exporter266 and fourth-largest importer267 of goods and services.
- The UK became the first industrialised country and was the world’s foremost power for the majority of the 19th and early 20th centuries, particularly during the Pax Britannica between 1815 and 1914.
The highest average temperature recorded in 2024 until November was in August, at 16.8 degrees Celsius. Since 2015, the highest average daily temperature in the UK was registered in July 2018, at 18.7 degrees Celsius. The summer of 2018 was the joint hottest since institutions began recording temperatures in 1910. One noticeable anomaly during this period was in December 2015, when the average daily temperature reached 9.5 degrees Celsius. This month also experienced the highest monthly rainfall in the UK since before 2014, with England, Wales, and Scotland suffering widespread flooding.
Legend says it was built by a giant who wanted a shortcut between Northern Ireland and Scotland, but really it was formed when the lava from non gamstop casinos a volcano cooled and formed these columns. Cool and creative, and part of Lonely Planet’s Best in Travel 2026 list, Bristol is a must-visit for art, culture and action-packed adventure. From palaces to cobbled alleys and even a castle on a dormant volcano, this city is a real show-stopper. Bring your big-screen dreams to life in the north-west Home Counties, a star player in Britain’s film and TV scene. Fall under the spell of the north-east of England on a set-jetting journey that’s laced with magic.
This statistic is using original data from the Office for National Statistics and includes copyright material from © Crown, licensed under the Open Government License v3.0. The north of England has many mountains and lakes, like Windermere, the largest lake in England. A dynamic port city with a colourful past, Belfast is a vibrant cultural hub on Northern Ireland’s eastern coast. A quirky seaside city filled with diverse cuisine, vintage shopping and adrenaline-fuelled adventure.
Despite having one of the highest levels of income inequality in the OECD,268269 the UK has a very high HDI ranking, including when adjusted for inequality. As of 2025 the UK unemployment rate is 4.7%,270 which is moderately low by European standards. The United Kingdom has made significant contributions to the world economy, especially in technology and industry.
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,m is a country in Northwestern Europe, off the coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland,n with a population of over 69 million in 2024. The capital and largest city of both England and the UK is London; Edinburgh, Cardiff and Belfast are the national capitals of Scotland, Wales and Northern Ireland.
Scotland, occupying northern Great Britain, includes the Orkney and Shetland islands off the northern coast and the Hebrides off the northwestern coast. United Kingdom, island country located off the northwestern coast of mainland Europe. The United Kingdom comprises the whole of the island of Great Britain—which contains England, Wales, and Scotland—as well as the northern portion of the island of Ireland.
