£1 in 1912 → £1.11 in 1915

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£1 in 1912 → £1.11 in 1915

UK Inflation Rate, £1 in 1912 to 1915

According to the Office for National Statistics composite price index, prices in 1915 are 11.11% higher than average prices throughout 1912. The pound experienced an average inflation rate of 3.57% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1912 is equivalent in purchasing power to about £1.11 in 1915, a difference of £0.11 over 3 years.

The 1912 inflation rate was 3.13%. The inflation rate in 1915 was 12.24%. The 1915 inflation rate is higher compared to the average inflation rate of 4.55% per year between 1915 and 2019.


Inflation from 1912 to 1915
Cumulative price change 11.11%
Average inflation rate 3.57%
Converted amount (£1 base) £1.11
Price difference (£1 base) £0.11
CPI in 1912 9.900
CPI in 1915 11.000
Inflation in 1912 3.13%
Inflation in 1915 12.24%

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


Buying power of £1 in 1912

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 1912 (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
1912 £1.00 3.13%
1913 £0.99 -1.01%
1914 £0.99 0.00%
1915 £1.11 12.24%
1916 £1.31 18.18%
1917 £1.65 25.38%
1918 £2.01 22.09%
1919 £2.21 10.05%
1920 £2.56 15.53%
1921 £2.33 -8.70%
1922 £2.01 -13.85%
1923 £1.89 -6.03%
1924 £1.88 -0.53%
1925 £1.88 0.00%
1926 £1.87 -0.54%
1927 £1.82 -2.70%
1928 £1.82 0.00%
1929 £1.80 -1.11%
1930 £1.75 -2.81%
1931 £1.68 -4.05%
1932 £1.64 -2.41%
1933 £1.60 -2.47%
1934 £1.60 0.00%
1935 £1.61 0.63%
1936 £1.62 0.63%
1937 £1.68 3.75%
1938 £1.70 1.20%
1939 £1.75 2.98%
1940 £2.04 16.76%
1941 £2.26 10.89%
1942 £2.42 7.14%
1943 £2.51 3.33%
1944 £2.58 2.82%
1945 £2.65 2.75%
1946 £2.73 3.05%
1947 £2.92 7.04%
1948 £3.14 7.61%
1949 £3.23 2.89%
1950 £3.33 3.13%
1951 £3.64 9.09%
1952 £3.97 9.17%
1953 £4.09 3.05%
1954 £4.17 1.98%
1955 £4.35 4.36%
1956 £4.58 5.10%
1957 £4.74 3.53%
1958 £4.89 3.20%
1959 £4.91 0.41%
1960 £4.96 1.03%
1961 £5.13 3.46%
1962 £5.35 4.33%
1963 £5.45 1.89%
1964 £5.64 3.33%
1965 £5.90 4.66%
1966 £6.13 3.94%
1967 £6.29 2.64%
1968 £6.59 4.65%
1969 £6.94 5.37%
1970 £7.38 6.40%
1971 £8.08 9.44%
1972 £8.66 7.13%
1973 £9.44 9.10%
1974 £10.96 16.04%
1975 £13.62 24.24%
1976 £15.87 16.54%
1977 £18.38 15.85%
1978 £19.91 8.30%
1979 £22.58 13.39%
1980 £26.64 17.99%
1981 £29.80 11.87%
1982 £32.36 8.61%
1983 £33.85 4.59%
1984 £35.54 4.98%
1985 £37.70 6.08%
1986 £38.98 3.40%
1987 £40.61 4.17%
1988 £42.60 4.90%
1989 £45.91 7.78%
1990 £50.25 9.46%
1991 £53.20 5.87%
1992 £55.19 3.74%
1993 £56.07 1.59%
1994 £57.42 2.41%
1995 £59.41 3.47%
1996 £60.85 2.41%
1997 £62.76 3.14%
1998 £64.91 3.43%
1999 £65.91 1.54%
2000 £67.86 2.96%
2001 £69.06 1.77%
2002 £70.21 1.67%
2003 £72.24 2.89%
2004 £74.39 2.98%
2005 £76.49 2.82%
2006 £78.94 3.20%
2007 £82.32 4.29%
2008 £85.61 3.99%
2009 £85.15 -0.53%
2010 £89.08 4.61%
2011 £93.72 5.20%
2012 £96.73 3.21%
2013 £99.67 3.04%
2014 £102.02 2.36%
2015 £103.03 0.99%
2016 £104.82 1.74%
2017 £108.58 3.58%
2018 £111.27 2.48%
2019 £113.27 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, 1912 to 1915

This inflation calculator uses the following inflation rate formula:

CPI in 1915CPI in 1912
×
1912 GBP value
=
1915 GBP value

Then plug in historical CPI values. The UK CPI was 9.9 in the year 1912 and 11 in 1915:

119.9
×
£1
=
£1.11

£1 in 1912 has the same "purchasing power" or "buying power" as £1.11 in 1915.

To get the total inflation rate for the 3 years between 1912 and 1915, we use the following formula:

CPI in 1915 - CPI in 1912CPI in 1912
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

11 - 9.99.9
×
100
=
11%

News headlines from 1912

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

  • Geophysicist and meteorologist Alfred Wegener presents the theory of continental drift to the Geological Association of Frankfurt.
  • Roald Amundsen explores the South Pole.
  • The first and last voyage of RMS Titanic takes place.
  • Columbia University approves plans for awarding the Pulitzer Prize in several categories. (The prize was established by Joseph Pulitzer.)

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 1912 → 1915 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Nov. 2019, https://www.officialdata.org/1912-GBP-in-1915?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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


About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1912 to 1915
Cumulative price change 11.11%
Average inflation rate 3.57%
Converted amount (£1 base) £1.11
Price difference (£1 base) £0.11
CPI in 1912 9.900
CPI in 1915 11.000
Inflation in 1912 3.13%
Inflation in 1915 12.24%
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