UK inflation rate in 2014: 2.36%

UK Inflation Calculator

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UK Inflation Rate, 2014-2018 (£1)

The composite price index (CPI) in 2014 was 1010. 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 2.08% per year. Prices in 2018 are 8.6% higher than prices in 2014.

In other words, £1 in the year 2014 is equivalent in purchasing power to £1.09 in 2018, a difference of £0.09 over 4 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 2014 to 2018
Cumulative price change 8.57%
Average inflation rate 2.08%
Price difference (£1 base) £0.09
CPI in 2014 1010
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 2014

Start with the inflation rate formula:

CPI in 2018 / CPI in 2014 * 2014 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 1010 in the year 2014 and 1096.59148 in 2018:

1096.59148 / 1010 * £1 = £1.09

£1 in 2014 has the same "purchasing power" as £1.09 in 2018.


News headlines from 2014

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

  • Violent protests erupt in Kiev, leading to clashes between protestors and riot police: President Viktor Yanukovych is ousted five days later.
  • Russia formally annexes Crimea amid international condemnation.
  • ISIS forces occupy government buildings and other key strategic locations in the city of Mosul.
  • Malasya Airlines Flight 17 shot down by pro-Russian separatists in Eastern Ukraine by a Buk surface-to-air missile. All 283 passengers and 15 crew were killed.

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 2014 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018, http://www.in2013dollars.com/UK-inflation-rate-in-2014.


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