# U.K. inflation rate in 2012: 3.21%

£

## Inflation in 2012 and its effect on pound value

£1 in 2011 is equivalent in purchasing power to about £1.03 in 2012. The pound had an average inflation rate of 3.21% per year between 2011 and 2012, producing a cumulative price increase of 3.21%. Purchasing power decreased by 3.21% in 2012 compared to 2011. On average, you would have to spend 3.21% more money in 2012 than in 2011 for the same item.

This means that prices in 2012 are 1.03 times as high as average prices since 2011, according to the Office for National Statistics composite price index.

The inflation rate in 2011 was 5.20%. The inflation rate in 2012 was 3.21%. The 2012 inflation rate is lower compared to the average inflation rate of 3.32% per year between 2012 and 2024.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 2012 was 957.60. It was 927.80 in the previous year, 2011. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 3.21% Converted amount£1 base £1.03 Price difference£1 base £0.03 CPI in 2011 927.800 CPI in 2012 957.600 Inflation in 2011 5.20% Inflation in 2012 3.21% £1 in 2011 £1.03 in 2012

Recent GBP inflation
Annual Rate, the Office for National Statistics CPI

## How to calculate inflation rate for £1, 2011 to 2012

Our calculations use the following inflation rate formula to calculate the change in value between 2011 and 2012:

CPI in 2012 CPI in 2011
×
2011 GBP value
=
2012 GBP value

Then plug in historical CPI values. The U.K. CPI was 927.8 in the year 2011 and 957.6 in 2012:

957.6927.8
×
£1
=
£1.03

£1 in 2011 has the same "purchasing power" or "buying power" as £1.03 in 2012.

To get the total inflation rate for the 1 years between 2011 and 2012, we use the following formula:

CPI in 2012 - CPI in 2011CPI in 2011
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

957.6 - 927.8927.8
×
100
=
3%

## Data source & citation

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 the current year, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “Inflation Rate in 2012 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Sep. 2024, https://www.officialdata.org/UK-inflation-rate-in-2012.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.