UK inflation rate in 1919: 10.05%

UK Inflation Calculator


UK Inflation Rate, 1919-2018 (£1)

The composite price index (CPI) in 1919 was 21.9. 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 4.03% per year. Prices in 2018 are 4907.3% higher than prices in 1919.

In other words, £1 in the year 1919 is equivalent in purchasing power to £50.07 in 2018, a difference of £49.07 over 99 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 1919 to 2018
Cumulative price change 4907.27%
Average inflation rate 4.03%
Price difference (£1 base) £49.07
CPI in 1919 21.9
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 1919

Start with the inflation rate formula:

CPI in 2018 / CPI in 1919 * 1919 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 21.9 in the year 1919 and 1096.59148 in 2018:

1096.59148 / 21.9 * £1 = £50.07

£1 in 1919 has the same "purchasing power" as £50.07 in 2018.

News headlines from 1919

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

  • The German Farmer's Party, which would later develop into National Socialist Party, is formed.
  • The Bolshevik party re-establishes the idea of a five-member Politburo at the 8th Congress of the Russian Communist Party, making it the central body of political power in the Soviet Union. Its first members were Vladimir Lenin, Leon Trotsky, Joseph Stalin, Lev Kamenev and Nikolai Krestinsky.
  • The Turkish War of Independence begins after Mustafa Kemal Ataturk's lands at Samsun, on the Black Sea.
  • The Treaty of Versailles is signed ending World War I and establishing the League of Nations.

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 1919 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018,

» Read more about inflation.