£1 in 1940 → £1.30 in 1945

UK Inflation Calculator

£

£1 in 1940 → £1.30 in 1945

UK Inflation Rate, £1 in 1940 to 1945

According to the Office for National Statistics composite price index, prices in 1945 are 29.70% higher than average prices throughout 1940. The pound experienced an average inflation rate of 5.34% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1940 is equivalent in purchasing power to about £1.30 in 1945, a difference of £0.30 over 5 years.

The 1940 inflation rate was 16.76%. The inflation rate in 1945 was 2.75%. The 1945 inflation rate is lower compared to the average inflation rate of 5.21% per year between 1945 and 2019.


Inflation from 1940 to 1945
Cumulative price change 29.70%
Average inflation rate 5.34%
Converted amount (£1 base) £1.30
Price difference (£1 base) £0.30
CPI in 1940 20.200
CPI in 1945 26.200
Inflation in 1940 16.76%
Inflation in 1945 2.75%

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


Buying power of £1 in 1940

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 1940 (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
1940 £1.00 16.76%
1941 £1.11 10.89%
1942 £1.19 7.14%
1943 £1.23 3.33%
1944 £1.26 2.82%
1945 £1.30 2.75%
1946 £1.34 3.05%
1947 £1.43 7.04%
1948 £1.54 7.61%
1949 £1.58 2.89%
1950 £1.63 3.13%
1951 £1.78 9.09%
1952 £1.95 9.17%
1953 £2.00 3.05%
1954 £2.04 1.98%
1955 £2.13 4.36%
1956 £2.24 5.10%
1957 £2.32 3.53%
1958 £2.40 3.20%
1959 £2.41 0.41%
1960 £2.43 1.03%
1961 £2.51 3.46%
1962 £2.62 4.33%
1963 £2.67 1.89%
1964 £2.76 3.33%
1965 £2.89 4.66%
1966 £3.00 3.94%
1967 £3.08 2.64%
1968 £3.23 4.65%
1969 £3.40 5.37%
1970 £3.62 6.40%
1971 £3.96 9.44%
1972 £4.24 7.13%
1973 £4.63 9.10%
1974 £5.37 16.04%
1975 £6.67 24.24%
1976 £7.78 16.54%
1977 £9.01 15.85%
1978 £9.76 8.30%
1979 £11.06 13.39%
1980 £13.05 17.99%
1981 £14.60 11.87%
1982 £15.86 8.61%
1983 £16.59 4.59%
1984 £17.42 4.98%
1985 £18.48 6.08%
1986 £19.10 3.40%
1987 £19.90 4.17%
1988 £20.88 4.90%
1989 £22.50 7.78%
1990 £24.63 9.46%
1991 £26.07 5.87%
1992 £27.05 3.74%
1993 £27.48 1.59%
1994 £28.14 2.41%
1995 £29.12 3.47%
1996 £29.82 2.41%
1997 £30.76 3.14%
1998 £31.81 3.43%
1999 £32.30 1.54%
2000 £33.26 2.96%
2001 £33.85 1.77%
2002 £34.41 1.67%
2003 £35.41 2.89%
2004 £36.46 2.98%
2005 £37.49 2.82%
2006 £38.69 3.20%
2007 £40.35 4.29%
2008 £41.96 3.99%
2009 £41.73 -0.53%
2010 £43.66 4.61%
2011 £45.93 5.20%
2012 £47.41 3.21%
2013 £48.85 3.04%
2014 £50.00 2.36%
2015 £50.50 0.99%
2016 £51.37 1.74%
2017 £53.21 3.58%
2018 £54.53 2.48%
2019 £55.52 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, 1940 to 1945

This inflation calculator uses the following inflation rate formula:

CPI in 1945CPI in 1940
×
1940 GBP value
=
1945 GBP value

Then plug in historical CPI values. The UK CPI was 20.2 in the year 1940 and 26.2 in 1945:

26.220.2
×
£1
=
£1.30

£1 in 1940 has the same "purchasing power" or "buying power" as £1.30 in 1945.

To get the total inflation rate for the 5 years between 1940 and 1945, we use the following formula:

CPI in 1945 - CPI in 1940CPI in 1940
×
100
=
Cumulative inflation rate (5 years)

Plugging in the values to this equation, we get:

26.2 - 20.220.2
×
100
=
30%

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 1940 → 1945 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Jun. 2019, https://www.officialdata.org/1940-GBP-in-1945?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 1940 to 1945
Cumulative price change 29.70%
Average inflation rate 5.34%
Converted amount (£1 base) £1.30
Price difference (£1 base) £0.30
CPI in 1940 20.200
CPI in 1945 26.200
Inflation in 1940 16.76%
Inflation in 1945 2.75%