Inflation United Kingdom 1973
Average inflation: 9.2%
Inflation in 1973
Inflation is very high at 9.2%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 10.6%. The lowest inflation was in January at 7.7%.
- Highest month
- December: 10.6%
- Lowest month
- January: 7.7%
- Difference
- 2.9 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 1.7 percentage points higher than the 5-year average of 7.5%. This approaches the highest level since records began (9.4% in 1971).
- 5-year average
- 7.5%
- 10-year average
- 5.7%
- All-time high (1971)
- 9.4%
- All-time low (1959)
- 0.6%
Trend
Over the period 1971-1973, inflation has remained relatively stable. Compared to 1972, inflation has risen by 2.1 percentage points.
- Change vs. previous year
- +2.1 percentage points
- Largest monthly swing
- July: +3.6 percentage points
ECB Target
Inflation is 7.2 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for £100 this year will cost approximately £109.20 next year at this inflation rate.
Multi-year trend
Monthly figures 1973
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1972 |
|---|---|---|
| January | 7.7% | -0.5 |
| February | 7.9% | -0.2 |
| March | 8.2% | +0.6 |
| April | 9.2% | +2.9 |
| May | 9.5% | +3.4 |
| June | 9.3% | +3.2 |
| July | 9.4% | +3.6 |
| August | 8.9% | +2.3 |
| September | 9.3% | +2.3 |
| October | 9.9% | +2.0 |
| November | 10.3% | +2.7 |
| December | 10.6% | +2.9 |
| Average | 9.2% |
Data source
Data from OECD. Last updated: 17/12/2025.