UK inflation rate in 2014: 2.36%

UK Inflation Calculator


UK Inflation Rate, 2014-2017 (£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, the pound experienced an average inflation rate of 1.79% per year. Prices in 2017 are 5.5% higher than prices in 2014.

In other words, £1 in the year 2014 is equivalent to £1.05 in 2017, a difference of £0.05 over 3 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 2014 to 2017
Cumulative price change 5.48%
Average inflation rate 1.79%
Price difference (£1 base) £0.05
CPI in 2014 1010
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 2014

Start with the inflation rate formula:

CPI in 2017 / CPI in 2014 * 2014 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 1010 in the year 2014 and 1065.34818 in 2017:

1065.34818 / 1010 * £1 = £1.05

The "purchasing power" of £1 from 2014 is £1.05 in 2017.

News headlines from 2014

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

  • 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: 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.