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# £1 in 2010 → £1.27 in 2019

### UK Inflation Rate, £1 in 2010 to 2019

According to the Office for National Statistics composite price index, today's prices in 2019 are 27.16% higher than average prices throughout 2010. The pound experienced an average inflation rate of 2.71% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 2010 is equivalent in purchasing power to about £1.27 in 2019, a difference of £0.27 over 9 years.

The 2010 inflation rate was 4.61%. The current inflation rate (2018 to 2019) is now 1.80%1. If this number holds, £1 today will be equivalent in buying power to £1.02 next year.

 Cumulative price change 27.16% Average inflation rate 2.71% Converted amount (£1 base) £1.27 Price difference (£1 base) £0.27 CPI in 2010 881.900 CPI in 2019 1,121.422 Inflation in 2010 4.61% Inflation in 2019 1.80%

### Buying power of £1 in 2010

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 2010 (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 Pound Value Inflation Rate
2010 £1.00 4.61%
2011 £1.05 5.20%
2012 £1.09 3.21%
2013 £1.12 3.04%
2014 £1.15 2.36%
2015 £1.16 0.99%
2016 £1.18 1.74%
2017 £1.22 3.58%
2018 £1.25 2.48%
2019 £1.27 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

### How to Calculate Inflation Rate for £1 since 2010

This inflation calculator uses the following inflation rate formula:

CPI in 2019CPI in 2010
×
2010 GBP value
=
2019 GBP value

Then plug in historical CPI values. The UK CPI was 881.9 in the year 2010 and 1121.4220303 in 2019:

1121.4220303881.9
×
£1
=
£1.27

£1 in 2010 has the same "purchasing power" or "buying power" as £1.27 in 2019.

To get the total inflation rate for the 9 years between 2010 and 2019, we use the following formula:

CPI in 2019 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (9 years)

Plugging in the values to this equation, we get:

1121.4220303 - 881.9881.9
×
100
=
27%

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

• The Copiapo mining accident in Chile ends, after 33 miners resurface having spent 69 days trapped in the ruins.
• Big Haiti earthquake kills 230,000 people and leaves most of Port-au-Prince, its capital, in ruins.
• An explosion on the Deepwater Horizon (a drilling rig), kills 11 people and spills a massive amount of oil into the Gulf of Mexico.
• The US army abolishes the "Don't Ask Don't Tell" policy, which had banned homosexuals from openly serving in the US military.

### 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: “£1 in 2010 → 2019 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Aug. 2019, https://www.officialdata.org/2010-GBP-in-2019?amount=1.