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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

From CPI to stagflation: how the UK tracks price rises and what key inflation terms mean

Inflation CPI Office for National Statistics United Kingdom
Inflation graphic of food, drink, loo roll and cash, with Bank of England as background
The latest UK inflation data is due to be released on Wednesday morning. Composite: Guardian Design/Getty Images/Shutterstock

On its website the Bank of England has a tool allowing users to find out how prices have changed ever since King John was on the English throne back in 1209. By its calculations, goods and services costing £10 six years before Magna Carta was sealed would today cost £16,427.96.

With the latest cost of living figures due out on Wednesday morning, Threadneedle Street’s ready reckoner puts the UK’s inflation record into historical perspective. It also highlights the many different ways – official and unofficial – in which changes to the cost of living are calculated.

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The Guardian - UK
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