£

# UK inflation rate in 1934: 0.00%

### Inflation in 1934 and Its Effect on Pound Value

Purchasing power decreased by 0.00% in 1934 compared to 1933. On average, you would have to spend 0.00% more money in 1934 than in 1933 for the same item.

In other words, £1 in 1933 is equivalent in purchasing power to about £1 in 1934.

The 1933 inflation rate was -2.47%. The inflation rate in 1934 was 0.00%. The 1934 inflation rate is lower compared to the average inflation rate of 5.14% per year between 1934 and 2019.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1934 was 15.80. It was 15.80 in the previous year, 1933. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 0.00% Converted amount (£1 base) £1 Price difference (£1 base) £0.00 CPI in 1933 15.800 CPI in 1934 15.800 Inflation in 1933 -2.47% Inflation in 1934 0.00%

### How to Calculate Inflation Rate for £1, 1933 to 1934

This inflation calculator uses the following inflation rate formula:

CPI in 1934CPI in 1933
×
1933 GBP value
=
1934 GBP value

Then plug in historical CPI values. The UK CPI was 15.8 in the year 1933 and 15.8 in 1934:

15.815.8
×
£1
=
£1

£1 in 1933 has the same "purchasing power" or "buying power" as £1 in 1934.

To get the total inflation rate for the 1 years between 1933 and 1934, we use the following formula:

CPI in 1934 - CPI in 1933CPI in 1933
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

15.8 - 15.815.8
×
100
=
0%

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

• Coining of the name "Pakistan" by Choudhry Rahmat Ali, this is later accepted by Muslims in the Indian sub-continent who use it to push for a separate Muslim homeland in South Asia.
• Adolf Hitler is appointed Reich Chancellor of Germany by President Paul von Hindenburg.
• Franklin D. Roosevelt is inaugurated President of the United States.
• The first Nazi concentration camp, Dachau, is completed.
• The Nazi party is declared the only political party in Germany.

### 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 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “Inflation Rate in 1934 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Sep. 2019, https://www.officialdata.org/UK-inflation-rate-in-1934.