Introduction to inflation

Inflation is a measure of how much the prices of goods and services have increased over time.

We are responsible for keeping inflation low and stable. The Government sets us a target of keeping inflation at 2%.

Read about how prices have changed over time.

How have prices changed over time?

Use our inflation calculator to see how prices in the UK have changed.

Inflation calculator

Try this currency converter from the National Archives to find out how much you could have earned and what you could have bought at different times in history.

Currency converter: 1270–2017

What happens if prices start to fall? Read about deflation.

What is deflation?

This page was last updated 17 February 2023