£1 in 2015 is worth £0.99 in 2014

Value of £1 from 2015 to 2014

£1 in 2015 is equivalent in purchasing power to about £0.99 in 2014. The pound had an average inflation rate of 0.99% per year between 2014 and 2015, producing a cumulative price increase of -0.98%.

This means that prices in 2014 are 0.98% lower than average prices since 2015, according to the Office for National Statistics composite price index.

The 2014 inflation rate was 2.36%. The inflation rate in 2015 was 0.99%. The 2015 inflation rate is lower compared to the average inflation rate of 2.17% per year between 2015 and 2021.


Inflation from 2015 to 2014
Average inflation rate 0.99%
Converted amount (£1 base) £0.99
Price difference (£1 base) £-0.01
CPI in 2015 1,020.000
CPI in 2014 1,010.000
Inflation in 2014 2.36%
Inflation in 2015 0.99%
£1 in 2015 £0.99 in 2014

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI
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How to Calculate Inflation Rate for £1, 2014 to 2015

Our calculations use the following inflation rate formula to calculate the change in value between 2014 and 2015:

CPI in 2014 CPI in 2015
×
2015 GBP value
=
2014 GBP value

Then plug in historical CPI values. The U.K. CPI was 1020 in the year 2015 and 1010 in 2014:

10101020
×
£1
=
£0.99

£1 in 2015 has the same "purchasing power" or "buying power" as £0.99 in 2014.

To get the total inflation rate for the 1 years between 2014 and 2015, we use the following formula:

CPI in 2014 - CPI in 2015CPI in 2015
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

1010 - 10201020
×
100
=
-1%

News headlines from 2014

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

  • Barack Obama and Raul Castro, hold the first meeting between Cuban and American leaders since the Cuban Revolution.
  • The population of India reaches 1 billion (officially). The billionth baby was named Astha Arora.
  • Donald Trump announces his intention to join the US presidential campaign.
  • China brings an end to its one child policy, 35 years after it was first introduced.

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 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£1 in 2015 → 2014 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Jun. 2021, https://www.officialdata.org/uk/inflation/2015?amount=1&endYear=2014.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 2015 to 2014
Average inflation rate 0.99%
Converted amount (£1 base) £0.99
Price difference (£1 base) £-0.01
CPI in 2015 1,020.000
CPI in 2014 1,010.000
Inflation in 2014 2.36%
Inflation in 2015 0.99%
£1 in 2015 £0.99 in 2014