UK inflation rate in 1930: -2.81%

UK Inflation Calculator

£

UK Inflation Rate, 1930-2017 (£1)

The composite price index (CPI) in 1930 was 17.3. 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 4.85% per year. Prices in 2017 are 6058.1% higher than prices in 1930.

In other words, £1 in the year 1930 is equivalent to £61.58 in 2017, a difference of £60.58 over 87 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 1930 to 2017
Cumulative price change 6058.08%
Average inflation rate 4.85%
Price difference (£1 base) £60.58
CPI in 1930 17.3
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 1930

Start with the inflation rate formula:

CPI in 2017 / CPI in 1930 * 1930 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 17.3 in the year 1930 and 1065.34818 in 2017:

1065.34818 / 17.3 * £1 = £61.58

The "purchasing power" of £1 from 1930 is £61.58 in 2017.


News headlines from 1930

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

  • Mohandas Gandhi protests British salt tax by a 200-mile-long walk
  • Clyde Tombaugh discovers Pluto
  • Lawrence Hyland discovers the first radar by accident.
  • 1911 Vicenzo Perugia steals Leonardo da Vinci's masterpiece, the Mona Lisa. (Recovered in Florence in 1913).
  • Roald Amundsen's leads the first expedition to reach the South Pole.
  • An American explorer, called Hiram Bingham, discovers Machu Picchu.

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.