UK inflation rate in 2013: 3.04%

UK Inflation Calculator

£

UK Inflation Rate, 2013-2017 (£1)

The composite price index (CPI) in 2013 was 986.7. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics, the pound experienced an average inflation rate of 1.94% per year. Prices in 2017 are 8.0% higher than prices in 2013.

In other words, £1 in the year 2013 is equivalent to £1.08 in 2017, a difference of £0.08 over 4 years.

The current inflation rate in 2017 is 2.70%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 2013 to 2017
Cumulative price change 7.97%
Average inflation rate 1.94%
Price difference (£1 base) £0.08
CPI in 2013 986.7
CPI in 2017 1065.34818


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


How to calculate the inflation rate for £1 since 2013

Start with the inflation rate formula:

CPI in 2017 / CPI in 2013 * 2013 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 986.7 in the year 2013 and 1065.34818 in 2017:

1065.34818 / 986.7 * £1 = £1.08

The "purchasing power" of £1 from 2013 is £1.08 in 2017.


News headlines from 2013

Politics and news often play an important role in economic performance.

  • 100,000 people march in Dhaka demanding justice for the atrocities committed during the Bangladesh Liberation War.
  • Pope Benedict XVI resigns, becoming the first pope to do so since 1415.
  • Two explosions near the finish line of the Boston Marathon, kill 3 and injure 183 people,
  • Xi Jinping becomes President of the People's Republic of China.

Inflation Data Source: This calculator uses 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.


» Read more about inflation.