Is inflation making you poorer?
- Calculator uses inflation data from February 2013 [RPI]
- Works at fairly broad level and outcome is only an estimate
- Your personal financial information is safe - all calculations are carried out on your computer
The rate of Retail Prices Index (RPI) inflation in the UK rose to 3.3% in March, up from 3.2% in February.
But your personal rate of inflation may not match the official rate of inflation. Use this calculator to get a more accurate picture of how inflation affects you.
The calculator was developed with the Office for National Statistics (ONS). Information entered is safe, as it stays on your computer.Continue reading the main story
STEP 1. FILL IN YOUR DETAILS
How to fill in this sectionNext to every category type the amount you spend on it per month. Use numbers but do not use £ sign. Leave 0 in any sections that do not apply to you.
Food - all food and non-alcoholic drinks consumed at home; not take aways. Meals out - include take aways, exclude alcoholic drinks. Alcohol - include all bought for consumption at home or away from home. Phone charges - include mobile phones and internet access. Clothing and footwear - exclude accessories. Fuel for transport - include lubricants. Rail and bus fares include tram/ tube fares, car hire, taxis. Other expenditure - include housekeeping, personal posessions - excluding electrical goods - and costs for professional, financial, household, health and beauty and entertainment services.
Your cost of living changes by text a year
Compared with overall national inflation rate of 3.3% per year
(March RPI figure)
What is inflation?
Inflation is the rate of change in the level of prices for goods and services, which affects the purchasing power of money. The official consumer inflation figures (RPI and CPI) measure the change in prices charged for goods and services bought by households in the UK. It is based on average spending patterns for UK households.
What do my results mean?
Your personal inflation rate reflects the impact of changing prices on you or your household, taking into account your personal spending pattern.
So if you spend relatively more on items with higher price increases, such as petrol and food, you will have a personal inflation rate that is higher than the official CPI or RPI figures suggest.
Similarly, if you spend relatively more on items with lower price increases, or even price decreases, you will experience a lower personal inflation rate (examples of such items include computers, audio visual equipment and clothing).
The inflation calculator deals only with your expenditure and does not include your income. If your total income is not increasing at the same rate as your personal inflation rate, then you will be worse off.
You will find more information in the Inflation calculator FAQs.