Please can anyone help with a sum I need doing? Just a rough estimate would do. My daughter was 18 in May 1999. I gave her £1000 towards a car. My second daughter is 18 in Jan 2008. How much should I give her to make it the same worth as the older daughter had? Thank to anyone that may reply
Bitstring , from the wonderful person Mum said
Well the Jan 2008 inflation number isn't in yet (and won't be until middle of Feb), but assuming we go with RPI the answer is likely to be around £1270-£1280. If you use CPI, RPIX, 'cost of motor car inflation', or whatever you can get pretty much any answer you like. 8>.
Look here:
on the basis of how much car it will buy, about the same.
tim
Mum,
The simpliest way of being fair is to look at the cost of am equivalent car that your youngest daughter was able to buy with £1000.
regards
nemo2
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