The composite price index (CPI) in 2017 is 1065.34818. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.
£1 in the year 2017 is predicted to be worth £1.03 in 2018.
This calculation is based on future inflation assumption of 2.70% per year. Use the calculator on the left to change this prediction. Or, use the annual inflation rate calculator to view inflation in the past.
Below is a graph of inflation to date:
|Cumulative price change||2.70%|
|Average inflation rate||2.70%|
|Price difference (£1 base)||£0.03|
|CPI in 2017||1065.34818|
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.