RPI inflation, 2020 to July 2026
£1,000 in 2020 is £1,430 today
That £1,000 bought 1,316 first-class stamps in 2020. Today it buys 556.
Prices up 43%5.7% a year on averageMultiply by 1.43
What £1,000 buys
Official average shop prices, not a basket. Things marked as outrunning inflation got dearer faster than everything else; things that lagged got relatively cheaper.
| Item | 2020 | Today |
|---|---|---|
| first-class stampsoutran inflation76p then, £1.80 today | 1,316 | 556 |
| dozen eggslagged inflation£1.96 then, about £2.38 today | 510 | 421 |
| kg of bananas87p then, about £1.09 today | 1,149 | 917 |
| pints of milk43p then, about 70p today | 2,320 | 1,439 |
| packs of 20 cigarettes£11.11 then, about £17.76 today | 90 | 56 |
| kg of roasting chicken£2.54 then, about £4.04 today | 394 | 247 |
| litres of unleaded£1.14 then, about £1.47 today | 877 | 682 |
| kg of rump steak£14.72 then, about £20.21 today | 68 | 49 |
| boxes of tea bags£2.01 then, about £2.83 today | 498 | 354 |
| sliced white loaves£1.05 then, about £1.50 today | 952 | 668 |
| Same money, adjusted for inflation | £1,000 | £1,430 |
The ONS stopped publishing these average prices in January 2025. Today's figures are that last reading moved on with inflation, so treat them as close rather than exact.
Houses and wages
Inflation is one story. What people earned, and what a home cost, are the other two.
Average house
£223,050 → £278,784
Up 1.2×, against 1.4× for prices generally
Average pay
£28,444 → £39,260
A year's average earnings, up 1.4×
Years of pay for a house
7.8 → 7.1
Average house price divided by average annual pay
If it had tracked wages
£1,380
What £1,000 in 2020 would be today if it had grown with pay rather than prices