What This Means for Pension Schemes
The CPIH index for January 2026 stands at 139.4, down from 139.9 in the previous period. The annual rate of CPIH inflation is 3.2%.
CPIH at 3.2% remains above the Bank of England's 2% target. Inflation-linked pension increases will be meaningful this year, and schemes should ensure their cash flow projections reflect the current environment. Trustees should confirm their LDI strategies account for persistent above-target inflation.
Source: Office for National Statistics — CPIH
Frequency: Monthly, typically mid-month
Date: 18 February 2026