UK inflation rate in 1941: 10.89%

UK Inflation Calculator


Inflation in 1941 and Its Effect on Pound Value

Purchasing power decreased by 10.89% in 1941 compared to 1940. On average, you would have to spend 10.89% more money in 1941 than in 1940 for the same item.

In other words, £1 in 1940 is equivalent in purchasing power to about £1.11 in 1941.

The 1940 inflation rate was 16.76%. The inflation rate in 1941 was 10.89%. The 1941 inflation rate is higher compared to the average inflation rate of 5.15% per year between 1941 and 2019.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1941 was 22.40. It was 20.20 in the previous year, 1940. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

Inflation from 1940 to 1941
Average inflation rate 10.89%
Converted amount (£1 base) £1.11
Price difference (£1 base) £0.11
CPI in 1940 20.200
CPI in 1941 22.400
Inflation in 1940 16.76%
Inflation in 1941 10.89%

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

How to Calculate Inflation Rate for £1, 1940 to 1941

This inflation calculator uses the following inflation rate formula:

CPI in 1941CPI in 1940
1940 GBP value
1941 GBP value

Then plug in historical CPI values. The UK CPI was 20.2 in the year 1940 and 22.4 in 1941:


£1 in 1940 has the same "purchasing power" or "buying power" as £1.11 in 1941.

To get the total inflation rate for the 1 years between 1940 and 1941, we use the following formula:

CPI in 1941 - CPI in 1940CPI in 1940
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

22.4 - 20.220.2

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 1941 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Apr. 2019,

Special thanks to QuickChart for providing downloadable chart images. is a reference website maintained by the Official Data Foundation.

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