UK inflation rate in 1896: -1.16%

UK Inflation Calculator


UK Inflation Rate, 1896-2018 (£1)

The composite price index (CPI) in 1896 was 8.5. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 4.06% per year. Prices in 2018 are 12801.1% higher than prices in 1896.

In other words, £1 in the year 1896 is equivalent in purchasing power to £129.01 in 2018, a difference of £128.01 over 122 years.

The current inflation rate in 2018 is 3.10%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1896 to 2018
Cumulative price change 12801.08%
Average inflation rate 4.06%
Price difference (£1 base) £128.01
CPI in 1896 8.5
CPI in 2018 1096.59148

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

How to calculate the inflation rate for £1 since 1896

Start with the inflation rate formula:

CPI in 2018 / CPI in 1896 * 1896 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 8.5 in the year 1896 and 1096.59148 in 2018:

1096.59148 / 8.5 * £1 = £129.01

£1 in 1896 has the same "purchasing power" as £129.01 in 2018.

News headlines from 1896

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

  • First use of radiation treatment for breast cancer by Doctor Emile Grubbe.
  • The first Modern Olympic Games take place in Athens. American James Connolly wins the first Olympic gold medal in modern history.
  • The world experiences its first car accident when Henry Wells hit a cyclist.

Inflation Data Source

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: “Inflation Rate in 1896 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018,

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