£

£1 in 1945 → £1.03 in 1946

UK Inflation Rate, £1 in 1945 to 1946

According to the Office for National Statistics composite price index, prices in 1946 are 3.05% higher than average prices throughout 1945. The pound experienced an average inflation rate of 3.05% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1945 is equivalent in purchasing power to about £1.03 in 1946.

The 1945 inflation rate was 2.75%. The inflation rate in 1946 was 3.05%. The 1946 inflation rate is lower compared to the average inflation rate of 5.24% per year between 1946 and 2019.

 Average inflation rate 3.05% Converted amount (£1 base) £1.03 Price difference (£1 base) £0.03 CPI in 1945 26.200 CPI in 1946 27.000 Inflation in 1945 2.75% Inflation in 1946 3.05%

How to Calculate Inflation Rate for £1, 1945 to 1946

This inflation calculator uses the following inflation rate formula:

CPI in 1946CPI in 1945
×
1945 GBP value
=
1946 GBP value

Then plug in historical CPI values. The UK CPI was 26.2 in the year 1945 and 27 in 1946:

2726.2
×
£1
=
£1.03

£1 in 1945 has the same "purchasing power" or "buying power" as £1.03 in 1946.

To get the total inflation rate for the 1 years between 1945 and 1946, we use the following formula:

CPI in 1946 - CPI in 1945CPI in 1945
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

27 - 26.226.2
×
100
=
3%

News headlines from 1945

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

• The USSR captures Budapest from Germany in a battle that kills 159,000 people.
• The US Fleet captures Iwo Jima.
• 1,500 US Navy ships bomb Okinawa: the operation is believed to be the largest of World War II
• Iwo Jima is occupied by America, costing 6,000 American lives and a further 18,000 Japanese lives.
• Buchenwald, the first Nazi concentration camp, is liberated.

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 1945 → 1946 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Aug. 2019, https://www.officialdata.org/1945-GBP-in-1946?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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

 Average inflation rate 3.05% Converted amount (£1 base) £1.03 Price difference (£1 base) £0.03 CPI in 1945 26.200 CPI in 1946 27.000 Inflation in 1945 2.75% Inflation in 1946 3.05%