UK inflation rate in 2012: 3.21%

UK Inflation Calculator

£

Inflation in 2012 and Its Effect on Pound Value

Purchasing power decreased by 3.21% in 2012 compared to the previous year, 2011. On average, you would have to spend 3.21% more money in 2012 than in 2011 for the same item.

In other words, £100 in 2011 is equivalent in purchasing power to £103.21 in 2012.

The 2011 inflation rate was 5.20%. The inflation rate in 2012 was 3.21%. The 2012 inflation rate is higher compared to the average inflation rate of 2.31% per year between 2012 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 2012 was 957.6. It was 927.8 in the previous year, 2011. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 2011 to 2012
Average inflation rate 3.21%
Converted amount (£100 base) £103.21
Price difference (£100 base) £3.21
CPI in 2011 927.8
CPI in 2012 957.6
Inflation in 2011 5.20%
Inflation in 2012 3.21%


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


How to Calculate Inflation Rate for £100, 2011 to 2012

This inflation calculator uses the following inflation rate formula:

CPI in 2012CPI in 2011
×
2011 GBP value
=
2012 GBP value

Then plug in historical CPI values. The UK CPI was 927.8 in the year 2011 and 957.6 in 2012:

957.6927.8
×
£100
=
£103.21

£100 in 2011 has the same "purchasing power" or "buying power" as £103.21 in 2012.

To get the total inflation rate for the 1 years between 2011 and 2012, we use the following formula:

CPI in 2012 - CPI in 2011CPI in 2011
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

957.6 - 927.8927.8
×
100
=
3%

News headlines from 2011

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: “Inflation Rate in 2012 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Oct. 2018, https://www.officialdata.org/UK-inflation-rate-in-2012.

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


» Read more about inflation.