UK inflation rate in 2000: 2.96%

UK Inflation Calculator

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UK Inflation Rate, 2000-2018 (£1)

The composite price index (CPI) in 2000 was 671.8. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 2.76% per year. Prices in 2018 are 63.2% higher than prices in 2000.

In other words, £1 in the year 2000 is equivalent in purchasing power to £1.63 in 2018, a difference of £0.63 over 18 years.

The current inflation rate in 2018 is 3.10%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 2000 to 2018
Cumulative price change 63.23%
Average inflation rate 2.76%
Price difference (£1 base) £0.63
CPI in 2000 671.8
CPI in 2018 1096.59148


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


How to calculate the inflation rate for £1 since 2000

Start with the inflation rate formula:

CPI in 2018 / CPI in 2000 * 2000 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 671.8 in the year 2000 and 1096.59148 in 2018:

1096.59148 / 671.8 * £1 = £1.63

£1 in 2000 has the same "purchasing power" as £1.63 in 2018.


News headlines from 2000

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

  • Steve Ballmer becomes CEO of Microsoft after Bill Gates steps down.
  • Dot-com bubble bursts after NASDAQ Composite stock market index peaks.
  • George Bush becomes President of the U.S. in a disputed election that is eventually resolved by the Supreme Court.
  • Gisborne, New Zealand becomes the first city to enter the new millennium.

Inflation Data Source

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: “Inflation Rate in 2000 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Apr. 2018, http://www.in2013dollars.com/UK-inflation-rate-in-2000.


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