Inflation calculator

[oceanview]

I have wondered at times recently, what the approximate cost would be now, of cars that i have purchased in the past.

The inflation calculators online seem to vary by thousands!

For example, my first car in March 1991, was a Fiesta XR2 that cost me £4750 ( car 4 years old, me 19!).

The B of E calculator , which seems basic, and only works on yearly, rather than being able to put in monthly values, puts that purchase at today, of £10,192.

Hargreaves Lansdown, which i would guess is the more accurate, puts it at £13435.

Can anyone with knowledge in these areas give there thoughts on these vastly different figures?!

[JohnP68]

HL uses RPI, BoE uses CPI. Difference is c. 30%, which is broadly consistent with the average historical difference between RPI and CPI of 1% pa

[greengreenwood7]

those inflation calculators appear to be out by a country mile....which is hardly surprising as inflation is a contrived figure thats ever changing. Even at a sandbagged (low) figure of 7% a yr that 4750 would be north of 20k now by a fair chunk.

[caziques]

I use https://www.bankofengland.co.uk/monetary-policy/in...

which goes back to 1209.

One pound in 1209 is supposedly equivalent to 1642.80 in March 2023.

For much of Victoria's reign a typical workman's wages were 50 pounds a year.