UK inflation rate in 1944: 2.82%

UK Inflation Calculator

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Inflation in 1944 and Its Effect on Pound Value

Purchasing power decreased by 2.82% in 1944 compared to the previous year, 1943. On average, you would have to spend 2.82% more money in 1944 than in 1943 for the same item.

In other words, £100 in 1943 is equivalent in purchasing power to £102.82 in 1944.

The 1943 inflation rate was 3.33%. The inflation rate in 1944 was 2.82%. The 1944 inflation rate is lower compared to the average inflation rate of 5.22% per year between 1944 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1944 was 25.5. It was 24.8 in the previous year, 1943. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1943 to 1944
Average inflation rate 2.82%
Converted amount (£100 base) £102.82
Price difference (£100 base) £2.82
CPI in 1943 24.8
CPI in 1944 25.5
Inflation in 1943 3.33%
Inflation in 1944 2.82%


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


How to Calculate Inflation Rate for £100, 1943 to 1944

This inflation calculator uses the following inflation rate formula:

CPI in 1944CPI in 1943
×
1943 GBP value
=
1944 GBP value

Then plug in historical CPI values. The UK CPI was 24.8 in the year 1943 and 25.5 in 1944:

25.524.8
×
£100
=
£102.82

£100 in 1943 has the same "purchasing power" or "buying power" as £102.82 in 1944.

To get the total inflation rate for the 1 years between 1943 and 1944, we use the following formula:

CPI in 1944 - CPI in 1943CPI in 1943
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

25.5 - 24.824.8
×
100
=
3%

News headlines from 1943

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

  • German general Friedrich von Paul surrenders to the Russians in Stalingrad.
  • The Japanese evacuate Guadalcanal, leading to one of the great WWII battles on the Solomon Islands
  • The Krakow Ghetto is liquidated by the Nazis.
  • The RAF bomb the Möhne and Eder dams in the Ruhr valley, in an operation known as Chastise.
  • Himmler orders the extermination of all the Nazi ghettos in Poland.

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 1944 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Oct. 2018, https://www.officialdata.org/UK-inflation-rate-in-1944.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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