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# UK inflation rate in 1902: 0.00%

### Inflation in 1902 and Its Effect on Pound Value

Purchasing power decreased by 0.00% in 1902 compared to 1901. On average, you would have to spend 0.00% more money in 1902 than in 1901 for the same item.

In other words, £1 in 1901 is equivalent in purchasing power to about £1 in 1902.

The 1901 inflation rate was 0.00%. The inflation rate in 1902 was 0.00%. The 1902 inflation rate is lower compared to the average inflation rate of 4.19% per year between 1902 and 2019.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1902 was 9.20. It was 9.20 in the previous year, 1901. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 0.00% Converted amount (£1 base) £1 Price difference (£1 base) £0.00 CPI in 1901 9.200 CPI in 1902 9.200 Inflation in 1901 0.00% Inflation in 1902 0.00%

### How to Calculate Inflation Rate for £1, 1901 to 1902

This inflation calculator uses the following inflation rate formula:

CPI in 1902CPI in 1901
×
1901 GBP value
=
1902 GBP value

Then plug in historical CPI values. The UK CPI was 9.2 in the year 1901 and 9.2 in 1902:

9.29.2
×
£1
=
£1

£1 in 1901 has the same "purchasing power" or "buying power" as £1 in 1902.

To get the total inflation rate for the 1 years between 1901 and 1902, we use the following formula:

CPI in 1902 - CPI in 1901CPI in 1901
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.2 - 9.29.2
×
100
=
0%

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

• The funeral of Queen Victoria is held in St. George's Chapel
• Vincent Van Gough’s paintings cause a sensation during a Paris exhibit. He had died 10 years prior.
• Australia elects its first ever Prime Minister, Edmund Barton.
• President William McKinley is assassinated by Leon Czolgosz at the Pan-Am Exposition in New York.

### 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: “Inflation Rate in 1902 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Sep. 2019, https://www.officialdata.org/UK-inflation-rate-in-1902.