£1 in 1905 → £0.99 in 1902

UK Inflation Calculator

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£1 in 1905 → £0.99 in 1902

UK Inflation Rate, £1 in 1905 to 1902

According to the Office for National Statistics composite price index, prices in 1902 are 1.08% lower than average prices throughout 1905. The pound experienced an average inflation rate of 0.36% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1905 is equivalent in purchasing power to about £0.99 in 1902, a difference of £-0.01 over 3 years.

The 1902 inflation rate was 0.00%. The inflation rate in 1905 was 0.00%. The 1905 inflation rate is lower compared to the average inflation rate of 4.29% per year between 1905 and 2019.


Inflation from 1905 to 1902
Cumulative price change -1.08%
Average inflation rate 0.36%
Converted amount (£1 base) £0.99
Price difference (£1 base) £-0.01
CPI in 1905 9.300
CPI in 1902 9.200
Inflation in 1902 0.00%
Inflation in 1905 0.00%

UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


Buying power of £1 in 1902

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 1902 (price index tracking began in 1750).

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Year Pound Value Inflation Rate
1902 £1.00 -
1903 £1.01 1.09%
1904 £1.01 0.00%
1905 £1.01 0.00%
1906 £1.01 0.00%
1907 £1.02 1.08%
1908 £1.02 0.00%
1909 £1.03 1.06%
1910 £1.04 1.05%
1911 £1.04 0.00%
1912 £1.08 3.13%
1913 £1.07 -1.01%
1914 £1.07 0.00%
1915 £1.20 12.24%
1916 £1.41 18.18%
1917 £1.77 25.38%
1918 £2.16 22.09%
1919 £2.38 10.05%
1920 £2.75 15.53%
1921 £2.51 -8.70%
1922 £2.16 -13.85%
1923 £2.03 -6.03%
1924 £2.02 -0.53%
1925 £2.02 0.00%
1926 £2.01 -0.54%
1927 £1.96 -2.70%
1928 £1.96 0.00%
1929 £1.93 -1.11%
1930 £1.88 -2.81%
1931 £1.80 -4.05%
1932 £1.76 -2.41%
1933 £1.72 -2.47%
1934 £1.72 0.00%
1935 £1.73 0.63%
1936 £1.74 0.63%
1937 £1.80 3.75%
1938 £1.83 1.20%
1939 £1.88 2.98%
1940 £2.20 16.76%
1941 £2.43 10.89%
1942 £2.61 7.14%
1943 £2.70 3.33%
1944 £2.77 2.82%
1945 £2.85 2.75%
1946 £2.93 3.05%
1947 £3.14 7.04%
1948 £3.38 7.61%
1949 £3.48 2.89%
1950 £3.59 3.13%
1951 £3.91 9.09%
1952 £4.27 9.17%
1953 £4.40 3.05%
1954 £4.49 1.98%
1955 £4.68 4.36%
1956 £4.92 5.10%
1957 £5.10 3.53%
1958 £5.26 3.20%
1959 £5.28 0.41%
1960 £5.34 1.03%
1961 £5.52 3.46%
1962 £5.76 4.33%
1963 £5.87 1.89%
1964 £6.07 3.33%
1965 £6.35 4.66%
1966 £6.60 3.94%
1967 £6.77 2.64%
1968 £7.09 4.65%
1969 £7.47 5.37%
1970 £7.95 6.40%
1971 £8.70 9.44%
1972 £9.32 7.13%
1973 £10.16 9.10%
1974 £11.79 16.04%
1975 £14.65 24.24%
1976 £17.08 16.54%
1977 £19.78 15.85%
1978 £21.42 8.30%
1979 £24.29 13.39%
1980 £28.66 17.99%
1981 £32.07 11.87%
1982 £34.83 8.61%
1983 £36.42 4.59%
1984 £38.24 4.98%
1985 £40.57 6.08%
1986 £41.95 3.40%
1987 £43.70 4.17%
1988 £45.84 4.90%
1989 £49.40 7.78%
1990 £54.08 9.46%
1991 £57.25 5.87%
1992 £59.39 3.74%
1993 £60.34 1.59%
1994 £61.79 2.41%
1995 £63.93 3.47%
1996 £65.48 2.41%
1997 £67.53 3.14%
1998 £69.85 3.43%
1999 £70.92 1.54%
2000 £73.02 2.96%
2001 £74.32 1.77%
2002 £75.55 1.67%
2003 £77.74 2.89%
2004 £80.05 2.98%
2005 £82.32 2.82%
2006 £84.95 3.20%
2007 £88.59 4.29%
2008 £92.12 3.99%
2009 £91.63 -0.53%
2010 £95.86 4.61%
2011 £100.85 5.20%
2012 £104.09 3.21%
2013 £107.25 3.04%
2014 £109.78 2.36%
2015 £110.87 0.99%
2016 £112.79 1.74%
2017 £116.84 3.58%
2018 £119.74 2.48%
2019 £121.89 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £1, 1902 to 1905

This inflation calculator uses the following inflation rate formula:

CPI in 1902CPI in 1905
×
1905 GBP value
=
1902 GBP value

Then plug in historical CPI values. The UK CPI was 9.3 in the year 1905 and 9.2 in 1902:

9.29.3
×
£1
=
£0.99

£1 in 1905 has the same "purchasing power" or "buying power" as £0.99 in 1902.

To get the total inflation rate for the 3 years between 1902 and 1905, we use the following formula:

CPI in 1902 - CPI in 1905CPI in 1905
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

9.2 - 9.39.3
×
100
=
-1%

News headlines from 1902

Politics and news often influence economic performance. Here's what was happening at the time:

  • The Industrial Workers of the World is formed. It is an American anarcho-syndicalist union.
  • Bloody Sunday in Russia: troops fire and kill protesters, mostly workers, marching to the Winter Palace in order to hand a petition to the Tsar.
  • Potemkin's arrival at Odessa leads to sailors joining civilians in the '1905 Revolution’.

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£1 in 1905 → 1902 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Jun. 2019, https://www.officialdata.org/1905-GBP-in-1902?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation and investment.

Inflation from 1905 to 1902
Cumulative price change -1.08%
Average inflation rate 0.36%
Converted amount (£1 base) £0.99
Price difference (£1 base) £-0.01
CPI in 1905 9.300
CPI in 1902 9.200
Inflation in 1902 0.00%
Inflation in 1905 0.00%