UK inflation rate in 1950: 3.13%

UK Inflation Calculator


UK Inflation Rate, 1950-2018 (£1)

The composite price index (CPI) in 1950 was 33. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 5.29% per year. Prices in 2018 are 3223.0% higher than prices in 1950.

In other words, £1 in the year 1950 is equivalent in purchasing power to £33.23 in 2018, a difference of £32.23 over 68 years.

The current inflation rate in 2018 is 3.10%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1950 to 2018
Cumulative price change 3223.00%
Average inflation rate 5.29%
Price difference (£1 base) £32.23
CPI in 1950 33
CPI in 2018 1096.59148

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

How to calculate the inflation rate for £1 since 1950

Start with the inflation rate formula:

CPI in 2018 / CPI in 1950 * 1950 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 33 in the year 1950 and 1096.59148 in 2018:

1096.59148 / 33 * £1 = £33.23

£1 in 1950 has the same "purchasing power" as £33.23 in 2018.

News headlines from 1950

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

  • Jerusalem is proclaimed the capital of Israel by Knesset
  • North Korea invades South Korea.
  • Harry Truman announces that America will seek to develop a hydrogen bomb.
  • Chinese forces occupy Tibet.

Inflation Data Source

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 1950 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018,

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