Calculate personal inflation as UK figure hits record high

Posted on October 14, 2008

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Inflation in the UK has hit a record high. The Consumer Prices Index (CPI) reached 5.2% last month – the highest CPI reading since 1997 and a 16-year historical inflation peak.

But what does this mean for me, I hear you asking. Well, the Office for National Statistics has this genius JavaScript-based calculator that allows you calculate your personal rate of inflation and how it compares against the national average.

I would tell you to link the calculator on the ITV News website but as I can’t get it to work on my computer I won’t be recommending it.

Two interesting things have emerged from my quick trial of the app. Firstly, as I expected, I’m so poor my rate of inflation is almost 2 per cent below the national average!!

personal inflation graph

personal inflation graph

 

 

Secondly, and perhaps more worryingly, the calculator says that 15 per cent of my annual expenditure goes on alcohol. If that’s not bad enough each month I seem to have an unaccounted £640 that goes missing.

Time to write a budget methinks.

 

 

 

 

 

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Posted in: economy