£1 in 1955 → £1.14 in 1960

UK Inflation Calculator

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£1 in 1955 → £1.14 in 1960

UK Inflation Rate, £1 in 1955 to 1960

According to the Office for National Statistics composite price index, prices in 1960 are 13.92% higher than average prices throughout 1955. The pound experienced an average inflation rate of 2.64% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1955 is equivalent in purchasing power to about £1.14 in 1960, a difference of £0.14 over 5 years.

The 1955 inflation rate was 4.36%. The inflation rate in 1960 was 1.03%. The 1960 inflation rate is lower compared to the average inflation rate of 5.45% per year between 1960 and 2019.


Inflation from 1955 to 1960
Cumulative price change 13.92%
Average inflation rate 2.64%
Converted amount (£1 base) £1.14
Price difference (£1 base) £0.14
CPI in 1955 43.100
CPI in 1960 49.100
Inflation in 1955 4.36%
Inflation in 1960 1.03%

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


Buying power of £1 in 1955

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 1955 (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
1955 £1.00 4.36%
1956 £1.05 5.10%
1957 £1.09 3.53%
1958 £1.12 3.20%
1959 £1.13 0.41%
1960 £1.14 1.03%
1961 £1.18 3.46%
1962 £1.23 4.33%
1963 £1.25 1.89%
1964 £1.29 3.33%
1965 £1.35 4.66%
1966 £1.41 3.94%
1967 £1.45 2.64%
1968 £1.51 4.65%
1969 £1.59 5.37%
1970 £1.70 6.40%
1971 £1.86 9.44%
1972 £1.99 7.13%
1973 £2.17 9.10%
1974 £2.52 16.04%
1975 £3.13 24.24%
1976 £3.65 16.54%
1977 £4.22 15.85%
1978 £4.57 8.30%
1979 £5.19 13.39%
1980 £6.12 17.99%
1981 £6.84 11.87%
1982 £7.43 8.61%
1983 £7.77 4.59%
1984 £8.16 4.98%
1985 £8.66 6.08%
1986 £8.95 3.40%
1987 £9.33 4.17%
1988 £9.78 4.90%
1989 £10.55 7.78%
1990 £11.54 9.46%
1991 £12.22 5.87%
1992 £12.68 3.74%
1993 £12.88 1.59%
1994 £13.19 2.41%
1995 £13.65 3.47%
1996 £13.98 2.41%
1997 £14.42 3.14%
1998 £14.91 3.43%
1999 £15.14 1.54%
2000 £15.59 2.96%
2001 £15.86 1.77%
2002 £16.13 1.67%
2003 £16.59 2.89%
2004 £17.09 2.98%
2005 £17.57 2.82%
2006 £18.13 3.20%
2007 £18.91 4.29%
2008 £19.66 3.99%
2009 £19.56 -0.53%
2010 £20.46 4.61%
2011 £21.53 5.20%
2012 £22.22 3.21%
2013 £22.89 3.04%
2014 £23.43 2.36%
2015 £23.67 0.99%
2016 £24.08 1.74%
2017 £24.94 3.58%
2018 £25.56 2.48%
2019 £26.02 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, 1955 to 1960

This inflation calculator uses the following inflation rate formula:

CPI in 1960CPI in 1955
×
1955 GBP value
=
1960 GBP value

Then plug in historical CPI values. The UK CPI was 43.1 in the year 1955 and 49.1 in 1960:

49.143.1
×
£1
=
£1.14

£1 in 1955 has the same "purchasing power" or "buying power" as £1.14 in 1960.

To get the total inflation rate for the 5 years between 1955 and 1960, we use the following formula:

CPI in 1960 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (5 years)

Plugging in the values to this equation, we get:

49.1 - 43.143.1
×
100
=
14%

News headlines from 1955

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

  • The occupying powers grant full Sovereignty to West Germany.
  • The Mainau Declaration against nuclear weapons is signed by 18 Nobel laureates.
  • Rosa Parks is arrested in Montgomery, Alabama for refusing to give her seat to a white person and move to the back of the bus.

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 1955 → 1960 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Oct. 2019, https://www.officialdata.org/1955-GBP-in-1960?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 1955 to 1960
Cumulative price change 13.92%
Average inflation rate 2.64%
Converted amount (£1 base) £1.14
Price difference (£1 base) £0.14
CPI in 1955 43.100
CPI in 1960 49.100
Inflation in 1955 4.36%
Inflation in 1960 1.03%
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