£1 in 1935 → £1.04 in 1931

UK Inflation Calculator

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£1 in 1935 → £1.04 in 1931

UK Inflation Rate, £1 in 1935 to 1931

According to the Office for National Statistics composite price index, prices in 1931 are 4.40% higher than average prices throughout 1935. The pound experienced an average deflation rate of -1.07% per year during this period, meaning the real value of a dollar increased.

In other words, £1 in 1935 is equivalent in purchasing power to about £1.04 in 1931, a difference of £0.04 over 4 years.

The 1931 inflation rate was -4.05%. The inflation rate in 1935 was 0.63%. The 1935 inflation rate is lower compared to the average inflation rate of 5.20% per year between 1935 and 2019.


Inflation from 1935 to 1931
Cumulative price change 4.40%
Average inflation rate -1.07%
Converted amount (£1 base) £1.04
Price difference (£1 base) £0.04
CPI in 1935 15.900
CPI in 1931 16.600
Inflation in 1931 -4.05%
Inflation in 1935 0.63%

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


Buying power of £1 in 1931

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 1931 (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
1931 £1.00 -4.05%
1932 £0.98 -2.41%
1933 £0.95 -2.47%
1934 £0.95 0.00%
1935 £0.96 0.63%
1936 £0.96 0.63%
1937 £1.00 3.75%
1938 £1.01 1.20%
1939 £1.04 2.98%
1940 £1.22 16.76%
1941 £1.35 10.89%
1942 £1.45 7.14%
1943 £1.49 3.33%
1944 £1.54 2.82%
1945 £1.58 2.75%
1946 £1.63 3.05%
1947 £1.74 7.04%
1948 £1.87 7.61%
1949 £1.93 2.89%
1950 £1.99 3.13%
1951 £2.17 9.09%
1952 £2.37 9.17%
1953 £2.44 3.05%
1954 £2.49 1.98%
1955 £2.60 4.36%
1956 £2.73 5.10%
1957 £2.83 3.53%
1958 £2.92 3.20%
1959 £2.93 0.41%
1960 £2.96 1.03%
1961 £3.06 3.46%
1962 £3.19 4.33%
1963 £3.25 1.89%
1964 £3.36 3.33%
1965 £3.52 4.66%
1966 £3.66 3.94%
1967 £3.75 2.64%
1968 £3.93 4.65%
1969 £4.14 5.37%
1970 £4.40 6.40%
1971 £4.82 9.44%
1972 £5.16 7.13%
1973 £5.63 9.10%
1974 £6.54 16.04%
1975 £8.12 24.24%
1976 £9.46 16.54%
1977 £10.96 15.85%
1978 £11.87 8.30%
1979 £13.46 13.39%
1980 £15.89 17.99%
1981 £17.77 11.87%
1982 £19.30 8.61%
1983 £20.19 4.59%
1984 £21.19 4.98%
1985 £22.48 6.08%
1986 £23.25 3.40%
1987 £24.22 4.17%
1988 £25.40 4.90%
1989 £27.38 7.78%
1990 £29.97 9.46%
1991 £31.73 5.87%
1992 £32.92 3.74%
1993 £33.44 1.59%
1994 £34.25 2.41%
1995 £35.43 3.47%
1996 £36.29 2.41%
1997 £37.43 3.14%
1998 £38.71 3.43%
1999 £39.31 1.54%
2000 £40.47 2.96%
2001 £41.19 1.77%
2002 £41.87 1.67%
2003 £43.08 2.89%
2004 £44.37 2.98%
2005 £45.62 2.82%
2006 £47.08 3.20%
2007 £49.10 4.29%
2008 £51.05 3.99%
2009 £50.78 -0.53%
2010 £53.13 4.61%
2011 £55.89 5.20%
2012 £57.69 3.21%
2013 £59.44 3.04%
2014 £60.84 2.36%
2015 £61.45 0.99%
2016 £62.51 1.74%
2017 £64.75 3.58%
2018 £66.36 2.48%
2019 £67.56 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, 1931 to 1935

This inflation calculator uses the following inflation rate formula:

CPI in 1931CPI in 1935
×
1935 GBP value
=
1931 GBP value

Then plug in historical CPI values. The UK CPI was 15.9 in the year 1935 and 16.6 in 1931:

16.615.9
×
£1
=
£1.04

£1 in 1935 has the same "purchasing power" or "buying power" as £1.04 in 1931.

To get the total inflation rate for the 4 years between 1931 and 1935, we use the following formula:

CPI in 1931 - CPI in 1935CPI in 1935
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

16.6 - 15.915.9
×
100
=
4%

News headlines from 1931

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

  • Hitler violates the Treaty of Versailles by ordering German rearmament.
  • In an event known as "Black Sunday", a severe sandstorm strikes the US Midwest, coining the term "Dust Bowl".
  • Communist forces end their Long March bringing Mao Zedong to prominence.
  • First trans-pacific airmail flight by a flying boat the "China Clipper" that took off from Alameda, California

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 1935 → 1931 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Jul. 2019, https://www.officialdata.org/1935-GBP-in-1931?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 1935 to 1931
Cumulative price change 4.40%
Average inflation rate -1.07%
Converted amount (£1 base) £1.04
Price difference (£1 base) £0.04
CPI in 1935 15.900
CPI in 1931 16.600
Inflation in 1931 -4.05%
Inflation in 1935 0.63%
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