£100 in 2008 → £129.98 in 2018

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UK Inflation Rate, £100 in 2008 to 2018

According to the Office for National Statistics composite price index, prices in 2018 are 29.98% higher than average prices throughout 2008. The pound experienced an average inflation rate of 2.66% per year during this period.

In other words, £100 in 2008 is equivalent in purchasing power to £129.98 in 2018, a difference of £29.98 over 10 years.

The 2008 inflation rate was 3.99%. The inflation rate in 2018 was 2.48%. The 2018 inflation rate is higher compared to the average inflation rate of 1.80% per year between 2018 and 2019.


Inflation from 2008 to 2018
Cumulative price change 29.98%
Average inflation rate 2.66%
Converted amount (£100 base) £129.98
Price difference (£100 base) £29.98
CPI in 2008 847.500
CPI in 2018 1,101.593
Inflation in 2008 3.99%
Inflation in 2018 2.48%


UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


Buying power of £100 in 2008

This chart shows calculations of buying power equivalence over time for £100 in 2008 (price index tracking began in 1750).

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Year GBP Value Inflation Rate
2008 £100.00 3.99%
2009 £99.47 -0.53%
2010 £104.06 4.61%
2011 £109.47 5.20%
2012 £112.99 3.21%
2013 £116.42 3.04%
2014 £119.17 2.36%
2015 £120.35 0.99%
2016 £122.44 1.74%
2017 £126.83 3.58%
2018 £129.98 2.48%
2019 £132.32 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £100, 2008 to 2018

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 2008
×
2008 GBP value
=
2018 GBP value

Then plug in historical CPI values. The UK CPI was 847.5 in the year 2008 and 1101.59335 in 2018:

1101.59335847.5
×
£100
=
£129.98

£100 in 2008 has the same "purchasing power" or "buying power" as £129.98 in 2018.

To get the total inflation rate for the 10 years between 2008 and 2018, we use the following formula:

CPI in 2018 - CPI in 2008CPI in 2008
×
100
=
Cumulative inflation rate (10 years)

Plugging in the values to this equation, we get:

1101.59335 - 847.5847.5
×
100
=
30%

News headlines from 2008

Politics and news often influence economic performance. Here's what was happening at the time:

  • Black Monday: stock markets crash all over the globe, resulting in enormous drops in global stock markets and halts in trading.
  • Fidel Castro retires as Cuban President due to ill health, after nearly 50 years in power.
  • Barak Obama becomes the first African American to receive the presidential nomination of his party.

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “2008 pounds in 2018 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Feb. 2019, https://www.officialdata.org/2008-GBP-in-2018.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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