UK inflation rate in 2017: 2.53%

UK Inflation Calculator

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UK Inflation Rate, 2017-2018 (£1)

The composite price index (CPI) in 2017 was 1063.61928. 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 3.10% per year. Prices in 2018 are 3.1% higher than prices in 2017.

In other words, £1 in the year 2017 is equivalent in purchasing power to £1.03 in 2018, a difference of £0.03 over 1 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 2017 to 2018
Cumulative price change 3.10%
Average inflation rate 3.10%
Price difference (£1 base) £0.03
CPI in 2017 1063.61928
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 2017

Start with the inflation rate formula:

CPI in 2018 / CPI in 2017 * 2017 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 1063.61928 in the year 2017 and 1096.59148 in 2018:

1096.59148 / 1063.61928 * £1 = £1.03

£1 in 2017 has the same "purchasing power" as £1.03 in 2018.


News headlines from 2017

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

  • Donald Trump sworn in as the 45th president of the United States.
  • Hurricanes Harvey and Irma strike southeast Texas and Florida, causing extensive flooding and damage.
  • Gunman kills 58 people at a Las Vegas concert, making it the deadliest mass shooting in modern U.S. history.
  • North Korea tests a hydrogen bomb and over a dozen ballistic missiles amidst soaring tensions with the U.S.

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 2017 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Jan. 2018, http://www.in2013dollars.com/UK-inflation-rate-in-2017.


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