£1 in 2014 is equivalent in purchasing power to about £1.01 in 2015. The pound had an average inflation rate of 0.99% per year between 2014 and 2015, producing a cumulative price increase of 0.99%. Purchasing power decreased by 0.99% in 2015 compared to 2014. On average, you would have to spend 0.99% more money in 2015 than in 2014 for the same item.

This means that prices in 2015 are 1.01 times higher than average prices since 2014, according to the Office for National Statistics composite price index.

The inflation rate in 2014 was 2.36%. The inflation rate in 2015 was 0.99%. The 2015 inflation rate is lower compared to the average inflation rate of 2.57% per year between 2015 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 2015 was 1,020.00. It was 1,010.00 in the previous year, 2014. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 0.99% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 2014 | 1,010.000 |

CPI in 2015 | 1,020.000 |

Inflation in 2014 | 2.36% |

Inflation in 2015 | 0.99% |

£1 in 2014 | £1.01 in 2015 |

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

CPI in 2015
CPI in 2014

×

2014 GBP value

=

2015 GBP value

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

10201010

×

£1

=

£1 in 2014 has the same "purchasing power" or "buying power" as £1.01 in 2015.

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

CPI in 2015 - CPI in 2014CPI in 2014

×

100

=

Plugging in the values to this equation, we get:

1020 - 10101010

×

100

=

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

- Violent protests erupt in Kiev, leading to clashes between protestors and riot police: President Viktor Yanukovych is ousted five days later.
- Russia formally annexes Crimea amid international condemnation.
- ISIS forces occupy government buildings and other key strategic locations in the city of Mosul.
- Malasya Airlines Flight 17 shot down by pro-Russian separatists in Eastern Ukraine by a Buk surface-to-air missile. All 283 passengers and 15 crew were killed.

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: “Inflation Rate in 2015 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Dec. 2021, https://www.officialdata.org/UK-inflation-rate-in-2015.

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.

Average inflation rate | 0.99% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 2014 | 1,010.000 |

CPI in 2015 | 1,020.000 |

Inflation in 2014 | 2.36% |

Inflation in 2015 | 0.99% |

£1 in 2014 | £1.01 in 2015 |