UK inflation rate in 2005: 2.82%

UK Inflation Calculator


UK Inflation Rate, 2005-2018 (£1)

The composite price index (CPI) in 2005 was 757.3. 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 2.89% per year. Prices in 2018 are 44.8% higher than prices in 2005.

In other words, £1 in the year 2005 is equivalent in purchasing power to £1.45 in 2018, a difference of £0.45 over 13 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 2005 to 2018
Cumulative price change 44.80%
Average inflation rate 2.89%
Price difference (£1 base) £0.45
CPI in 2005 757.3
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 2005

Start with the inflation rate formula:

CPI in 2018 / CPI in 2005 * 2005 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 757.3 in the year 2005 and 1096.59148 in 2018:

1096.59148 / 757.3 * £1 = £1.45

£1 in 2005 has the same "purchasing power" as £1.45 in 2018.

News headlines from 2005

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

  • Egyptian President Hosni Mubarak asks Parliament to amend Article 76 and orders constitutional changes in order to allow multi-candidate presidential elections.
  • Syria's 29-year-long military domination of Lebanon ends, after it withdraws the last of its 14,000 troops under international pressure.
  • A coordinated bomb attack hits London's public transport system, during the morning rush hour, killing 52 and injuring a further 700 people.
  • Angela Merkel becomes first female Chancellor of Germany.

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 2005 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018,

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