Inflation / Current Value calculator

In message , Andy Hawkins writes

See the table in the thread in this newsgroup called RPI, quoted below, and multiply 10 000 by the ratio of today's number to the average for

1995 (or whatever period comparison you want). Of course if your spending is not exactly average, this won't be exactly right, but it's a start.

In message , Dave writes

Sheila

It depends which index of inflation you want to use. There's the RPI, the CPI, the RPIX, the average earnings index etc etc. You can download all the historical values for any of those, and more, that you're likely to need from the Office of National Statistics website, and can work it out from there. You don't need an online calculator if you can use an ordinary one.

Having trouble finding these historic figures on the National Statistics website. Got a link?

Once I get them, I suppose I multiply the earnings in 1995 by the 1995 inflation figure, then by the 1996 figure, and so on up until today? Is that correct?

So it'd be (say) 10000 * 1.03 * 1.04 * 1.05 (for figures of 3%, 4% and 5% for the three years).

Thanks

Andy

Just saw the other post in the thread. Found this document:

Someone check my maths?

RPI for 2010 is 223.6, for 2000 is 170.3, an increase of about 31%. So I take the £10000 I was earning in 2000, multiply that by 31% which means I need to earn £13129 today to have the 'same' money in my pocket (roughly obviously).

That look correct?

Thanks

Andy

In message , Andy Hawkins writes

Looks right.

Sheila

Excellent, thanks a lot.

Andy

In message , Andy Hawkins wrote

Did you try Googling for this? It only took me a few seconds to come up with the following online calculators.

Chris

Which type of inflation do these calculators use? (RPI, CPI???)

Inflation figures only show the rise of a certain "basket" of goods. Unless you buy the same products in exactly the same proportion then your personal "inflation" will be different.

I use the personal calculator from the ONS:

I have found my personal inflation figures to be considerably higher than any of the standard measures.

I have found this site to be very good, with various different indices available.

John