£ UK Inflation Calculator

About UK Inflation

The Bank of England targets a 2% inflation rate (CPI). Historically, UK inflation has averaged around 3.8% since 1950, but has ranged from -1% (deflation in 2009) to over 10% (2022 energy crisis).

Key periods:

• 1970s oil crisis — inflation peaked at 24.2% in 1975
• 1990s-2000s — "Great Moderation," inflation mostly 1-3%
• 2022-2023 — Post-pandemic inflation crisis peaked at 11.1%
• Current (2024-25) — Gradually returning toward 2% target