U.K. inflation rate in 1917: 25.38%

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Inflation in 1917 and its effect on pound value

£1 in 1916 is equivalent in purchasing power to about £1.25 in 1917. The pound had an average inflation rate of 25.38% per year between 1916 and 1917, producing a cumulative price increase of 25.38%. Purchasing power decreased by 25.38% in 1917 compared to 1916. On average, you would have to spend 25.38% more money in 1917 than in 1916 for the same item.

This means that prices in 1917 are 1.25 times as high as average prices since 1916, according to the Office for National Statistics composite price index.

The inflation rate in 1916 was 18.18%. The inflation rate in 1917 was 25.38%. The 1917 inflation rate is higher compared to the average inflation rate of 4.26% per year between 1917 and 2024.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1917 was 16.30. It was 13.00 in the previous year, 1916. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃
Inflation from 1916 to 1917
Average inflation rate25.38%
Converted amount
£1 base		£1.25
Price difference
£1 base		£0.25
CPI in 191613.000
CPI in 191716.300
Inflation in 191618.18%
Inflation in 191725.38%
£1 in 1916£1.25 in 1917
Recent GBP inflation
Annual Rate, the Office for National Statistics CPI
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How to calculate inflation rate for £1, 1916 to 1917

Our calculations use the following inflation rate formula to calculate the change in value between 1916 and 1917:

CPI in 1917 CPI in 1916
×
1916 GBP value
=
1917 GBP value

Then plug in historical CPI values. The U.K. CPI was 13 in the year 1916 and 16.3 in 1917:

16.313
×
£1
=
£1.25

£1 in 1916 has the same "purchasing power" or "buying power" as £1.25 in 1917.

To get the total inflation rate for the 1 years between 1916 and 1917, we use the following formula:

CPI in 1917 - CPI in 1916CPI in 1916
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

16.3 - 1313
×
100
=
25%

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 the current year, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “Inflation Rate in 1917 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Apr. 2024, https://www.officialdata.org/UK-inflation-rate-in-1917.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1916 to 1917
Average inflation rate25.38%
Converted amount
£1 base		£1.25
Price difference
£1 base		£0.25
CPI in 191613.000
CPI in 191716.300
Inflation in 191618.18%
Inflation in 191725.38%
£1 in 1916£1.25 in 1917