In trying to find annual inflation for the UK, I came across this page:
http://www.rateinflation.com/inflation-rate/uk-historical-inflation-rate
I don't see how the annual inflation rate to the right makes sense with respect to the monthly inflation rates. For example, take a look at inflation for the year 2014:
Even if we just look at the 2% rate for January, how can the annual rate to the right be lower than that? The cumulative rates of all the months combined should take it way higher than 2%.
What am I missing?