Use our aggrandizement estimator to cheque how prices in the UK have inverse over time, from 1209 to 2021.

What would goods and services costing

* Delight simply insert numbers (0 - 9)
Data for 2022 volition exist available when the annual consumer cost inflation time series is updated in January 2023.

  • Our inflation figurer works for amounts between £i and £one,000,000,000,000 (£1 trillion).

    For example, imagine yous want to know what goods and services costing £23.60 in 1975 would have cost in 1985:

    The price index for 1975 = 134.8
    The cost alphabetize for 1985 = 373.2

    The calculator increases the cost in 1975 past the modify in prices betwixt 1975 and 1985 with this formula:

    \[\textit{Toll in 1985} = \textit{Price in 1975} \times \frac{\textit{1985 price alphabetize}}{\textit{1975 toll alphabetize}} \]

    \[£65.33 = £23.60 \times \frac{373.2}{134.eight}\]

    So the cost in 1985 of the aforementioned goods and services has risen to £65.33.

  • The inflation calculator also tells y'all the average yearly inflation rate betwixt two years. The formula for this, once more using the example of 1975 to 1985, is:

    \[\textit{Boilerplate inflation} = \left( \left( \left( \frac{\textit{1985 cost index}}{\textit{1975 toll index}} \right) ^{0.ane} \right) - 1 \right) \times 100\]

    The reply is:

    \[10.7\% = \left( \left( \left( \frac{373.2}{134.7} \right) ^{0.1} \right) -1 \correct) \times 100\]

    This looks a bit complicated, but information technology just shows that on boilerplate prices rose by 10.7% a year between 1975 and 1985. Past the manner, "0.one" means that the modify in prices is 'raised to the ability of i 10th' to calculate the average inflation rate over ten years.

  • If prices fell betwixt the two years you put into the calculator, average inflation will be negative. This is called deflation.

    For case, say you input the dates 1920 and 1933. The calculator reveals that inflation averaged -3.5%, considering prices fell in well-nigh every year between 1920 and 1933.

  • Our aggrandizement calculator is designed for illustrative and general reference purposes merely.

    The calculations are approximate and only give a rough guide to the buying power of the pound for appurtenances and services purchased in the United kingdom.

    Nosotros use several sources to create our computer. For dates from 1750 until now we use the Office for National Statistics' (ONS) composite cost index. The ONS base of operations their alphabetize on the Retail Price Alphabetize from 1947 onwards. Only, earlier 1947 no single price index exists so the ONS use toll information linked together from several unlike published sources. Every year we update our calculator using the ONS'south annual Long term indicator of prices of consumer appurtenances and services.

    For dates between 1209 to 1750, we apply the toll of living index kindly supplied by Professor Greg Clark.

    There are a number of other toll indices available. You can find some alternatives in our A millennium of macroeconomic data spreadsheet and Professor Clark's study The Macroeconomic Aggregates for England 1209-1869.

    The website measuringworth.com has a calculator based on different measures of comparative value such every bit the Gdp (Gross domestic product) deflator, average earnings, and GDP per caput. These measures may exist more useful depending on what you're trying to do. For example, a calculator based on average earnings might be better if you desire to compare wages, income or wealth over time.

  • Over long periods, the definitions of goods and services included in the price index have changed. For example, a family unit's food and dress today are very different to those of a typical family a hundred years agone.

    Changes in household spending also reflect higher incomes and the wider range of goods and services available to buy today. These new appurtenances and services are included in today's price index, but not in before versions.

    Overall, these features of the data mean that comparisons of prices further back in fourth dimension and over long periods are less accurate than comparisons over short periods in recent years.

This folio was last updated 26 January 2022