UK inflation rate in 1921: -8.70%

UK Inflation Calculator


UK Inflation Rate, 1921-2017 (£1)

The composite price index (CPI) in 1921 was 23.1. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics, the pound experienced an average inflation rate of 4.07% per year. Prices in 2017 are 4511.9% higher than prices in 1921.

In other words, £1 in the year 1921 is equivalent to £46.12 in 2017, a difference of £45.12 over 96 years.

The current inflation rate in 2017 is 2.70%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1921 to 2017
Cumulative price change 4511.90%
Average inflation rate 4.07%
Price difference (£1 base) £45.12
CPI in 1921 23.1
CPI in 2017 1065.34818

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

How to calculate the inflation rate for £1 since 1921

Start with the inflation rate formula:

CPI in 2017 / CPI in 1921 * 1921 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 23.1 in the year 1921 and 1065.34818 in 2017:

1065.34818 / 23.1 * £1 = £46.12

£1 in 1921 has the same "purchasing power" as £46.12 in 2017.

News headlines from 1921

Politics and news often play an important role in economic performance.

  • The Chinese Communist Party is founded by Chen Duxiu.
  • Alice Mary Robertson becomes the first woman to preside over the United States House of Representatives.
  • Adolf Hitler is declared leader of the National Socialist German Workers Party.

Inflation Data Source: This calculator uses 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.

» Read more about inflation.