From CPI to stagflation: how the UK tracks price rises and what key inflation terms mean

All the methods of cost of living calculations come with benefits and limitations

On its website the Bank of England has a tool allowing users to find out how prices have changed ever since King John was on the English throne back in 1209. By its calculations, goods and services costing 10 six years before Magna Carta was sealed would today cost 16,427.96.

With the latest cost of living figures due out on Wednesday morning, Threadneedle Street's ready reckoner puts the UK's inflation record into historical perspective. It also highlights the many different ways - official and unofficial - in which changes to the cost of living are calculated.