UK inflation rate in 1903: 1.09%

UK Inflation Calculator


Inflation in 1903 and Its Effect on Pound Value

Purchasing power decreased by 1.09% in 1903 compared to 1902. On average, you would have to spend 1.09% more money in 1903 than in 1902 for the same item.

In other words, £1 in 1902 is equivalent in purchasing power to about £1.01 in 1903.

The 1902 inflation rate was 0.00%. The inflation rate in 1903 was 1.09%. The 1903 inflation rate is lower compared to the average inflation rate of 4.22% per year between 1903 and 2019.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1903 was 9.30. It was 9.20 in the previous year, 1902. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

Inflation from 1902 to 1903
Average inflation rate 1.09%
Converted amount (£1 base) £1.01
Price difference (£1 base) £0.01
CPI in 1902 9.200
CPI in 1903 9.300
Inflation in 1902 0.00%
Inflation in 1903 1.09%

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

How to Calculate Inflation Rate for £1, 1902 to 1903

This inflation calculator uses the following inflation rate formula:

CPI in 1903CPI in 1902
1902 GBP value
1903 GBP value

Then plug in historical CPI values. The UK CPI was 9.2 in the year 1902 and 9.3 in 1903:


£1 in 1902 has the same "purchasing power" or "buying power" as £1.01 in 1903.

To get the total inflation rate for the 1 years between 1902 and 1903, we use the following formula:

CPI in 1903 - CPI in 1902CPI in 1902
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.3 - 9.29.2

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 1903 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Apr. 2019,

Special thanks to QuickChart for providing downloadable chart images. is a reference website maintained by the Official Data Foundation.

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