The composite price index (CPI) in 1908 was 9.4. 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 4.42% per year. Prices in 2018 are 11565.9% higher than prices in 1908.

In other words, £1 in the year 1908 is equivalent in purchasing power to £116.66 in 2018, a difference of £115.66 over 110 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.

Cumulative price change | 11565.87% |

Average inflation rate | 4.42% |

Price difference (£1 base) | £115.66 |

CPI in 1908 | 9.4 |

CPI in 2018 | 1096.59148 |

CPI in 2018 / CPI in 1908 * 1908 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 9.4 in the year 1908 and 1096.59148 in 2018:

1096.59148 / 9.4 * £1 =

£1 in 1908 has the same "purchasing power" as £116.66 in 2018.

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

- "Scouting for Boys", the book that became an inspiration for the Scout Movement, is published by Lieutenant General Robert Baden-Powell
- King Carlos I of Portugal and his heir Prince Luis Filipe in Terreiro do Paco are assassinated.
- A meteor explodes over Siberia with the power of several atomic bombs. This is known as the "Tunguska event".
- The first Model T car is built.

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 1908 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 22 Jan. 2018, http://www.in2013dollars.com/UK-inflation-rate-in-1908.