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# £40,000 in 2011 → £48,347.58 in 2019

### UK Inflation Rate, £40,000 in 2011 to 2019

According to the Office for National Statistics composite price index, today's prices in 2019 are 20.87% higher than average prices throughout 2011. The pound experienced an average inflation rate of 2.40% per year during this period, meaning the real value of a dollar decreased.

In other words, £40,000 in 2011 is equivalent in purchasing power to about £48,347.58 in 2019, a difference of £8,347.58 over 8 years.

The 2011 inflation rate was 5.20%. The current inflation rate (2018 to 2019) is now 1.80%1. If this number holds, £40,000 today will be equivalent in buying power to £40,720.00 next year.

 Cumulative price change 20.87% Average inflation rate 2.40% Converted amount (£40,000 base) £48,347.58 Price difference (£40,000 base) £8,347.58 CPI in 2011 927.800 CPI in 2019 1,121.422 Inflation in 2011 5.20% Inflation in 2019 1.80%

### Buying power of £40,000 in 2011

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £40,000 in 2011 (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
2011 £40,000.00 5.20%
2012 £41,284.76 3.21%
2013 £42,539.34 3.04%
2014 £43,543.87 2.36%
2015 £43,974.99 0.99%
2016 £44,738.09 1.74%
2017 £46,341.88 3.58%
2018 £47,492.71 2.48%
2019 £48,347.58 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

### How to Calculate Inflation Rate for £40,000 since 2011

This inflation calculator uses the following inflation rate formula:

CPI in 2019CPI in 2011
×
2011 GBP value
=
2019 GBP value

Then plug in historical CPI values. The UK CPI was 927.8 in the year 2011 and 1121.4220303 in 2019:

1121.4220303927.8
×
£40,000
=
£48,347.58

£40,000 in 2011 has the same "purchasing power" or "buying power" as £48,347.58 in 2019.

To get the total inflation rate for the 8 years between 2011 and 2019, we use the following formula:

CPI in 2019 - CPI in 2011CPI in 2011
×
100
=
Cumulative inflation rate (8 years)

Plugging in the values to this equation, we get:

1121.4220303 - 927.8927.8
×
100
=
21%

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

• Ben Ali, the president of Tunisia, flees to Saudi Arabia after protests known as the Jasmine Revolution.
• Fidel Castro resigns from the central committee of Cuban Communist Party after 45 years.
• Osama bin Laden is killed by US Special Forces in Abbottabad, Pakistan.
• Norway, is struck by twin terror attacks: a bomb blast targeting government buildings in Oslo, and a massacre at a youth camp on Utøya island

### 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: “£40,000 in 2011 → 2019 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Jun. 2019, https://www.officialdata.org/2011-GBP-in-2019?amount=40000.