How to calculate inflation rate between 2 dates

mitchaa

Can someone help me or show me how to calculate inflation between 2 dates.

I need to know what CPI/RPI inflation is today in comparison to what it was in Dec 2008. How much would say £1000 in Dec 2008 be worth now in July 2010?

Thanks

chucky

mitchaa wrote: »

Can someone help me or show me how to calculate inflation between 2 dates.

I need to know what CPI/RPI inflation is today in comparison to what it was in Dec 2008.

Thanks

have a look at the RPI or CPI Index and work out the percentage change between the two dates

Really2

Hope this helps.

Generali

mitchaa wrote: »

Can someone help me or show me how to calculate inflation between 2 dates.

I need to know what CPI/RPI inflation is today in comparison to what it was in Dec 2008. How much would say £1000 in Dec 2008 be worth now in July 2010?

Thanks

1. Go to the NSO website.
2. Look up the Blue Book.
3. Look up the RPI/CPI/RPIX/whatever. You want the index number, not the %age change in the index number.
4. The sum is:

1000 x [(RPI July 2010 - RPI Dec 2008)/RPI Dec 2008]

HTH

mitchaa

http://www.statistics.gov.uk/downloads/theme_economy/focus-on-cpi-june-2010.pdf

So the calculation is...

884.1 - 839.9 = 44.2
44.2/839.9 x 100 = 5.26%

Generali

mitchaa wrote: »

http://www.statistics.gov.uk/downloads/theme_economy/focus-on-cpi-june-2010.pdf

So the calculation is...

884.1 - 839.9 = 44.2
44.2/839.9 x 100 = 5.26%

Yes, if you want to use RPI. CPI, RPIX etc would give a different result.

Thus £1,000 in Dec 2008 = £1,052.60 in June 2010 based on changes in prices as measured using the retail prices index.

mitchaa

Thanks

That's RPI, now where's CPI, Table listed above doesn't seem to have monthly breakdowns of CPI?

Generali

mitchaa wrote: »

Thanks

That's RPI, now where's CPI, Table listed above doesn't seem to have monthly breakdowns of CPI?

Page 19/Section 3.1.

The base date of the CPI was May/June 2005, so those dates = 100. They calculated it back as far as 1996 using data previously collected for other inflation measures.

Calculation:

(114.6 - 109.5)/109.5 = 4.66%

£1000 = £1,046.60

bigheadxx

http://www.moneysorter.co.uk/calculator_inflation.html

http://www.bankofengland.co.uk/education/inflation/calculator/flash/index.htm

Generali

Really2 wrote: »

Hope this helps.

Took me a little while to get it. Where's the face palm smiley?

My son snaffled from Grandma's fridge a 250g bag of dates aged about 1 year and ate pretty much all of them. I was on nappy duty.

mitchaa

Thanks Generali, you're a star,

So CPI = 114.6 - 109.5 = 5.1.
CPI = 5.1/109.5 x 100 = 4.66%

RPI = 5.26%
CPI = 4.66%

Cheers everybody.