UK inflation rate in 1951: 9.09%

UK Inflation Calculator

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Inflation in 1951 and Its Effect on Pound Value

Purchasing power decreased by 9.09% in 1951 compared to the previous year, 1950. On average, you would have to spend 9.09% more money in 1951 than in 1950 for the same item.

In other words, £100 in 1950 is equivalent in purchasing power to £109.09 in 1951.

The 1950 inflation rate was 3.13%. The inflation rate in 1951 was 9.09%. The 1951 inflation rate is higher compared to the average inflation rate of 5.23% per year between 1951 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1951 was 36. It was 33 in the previous year, 1950. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1950 to 1951
Average inflation rate 9.09%
Converted amount (£100 base) £109.09
Price difference (£100 base) £9.09
CPI in 1950 33
CPI in 1951 36
Inflation in 1950 3.13%
Inflation in 1951 9.09%


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


How to Calculate Inflation Rate for £100, 1950 to 1951

This inflation calculator uses the following inflation rate formula:

CPI in 1951CPI in 1950
×
1950 GBP value
=
1951 GBP value

Then plug in historical CPI values. The UK CPI was 33 in the year 1950 and 36 in 1951:

3633
×
£100
=
£109.09

£100 in 1950 has the same "purchasing power" or "buying power" as £109.09 in 1951.

To get the total inflation rate for the 1 years between 1950 and 1951, we use the following formula:

CPI in 1951 - CPI in 1950CPI in 1950
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

36 - 3333
×
100
=
9%

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.

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 1951 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Oct. 2018, https://www.officialdata.org/UK-inflation-rate-in-1951.

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


» Read more about inflation.