UK inflation rate in 1953: 3.05%

UK Inflation Calculator

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Inflation in 1953 and Its Effect on Pound Value

Purchasing power decreased by 3.05% in 1953 compared to the previous year, 1952. On average, you would have to spend 3.05% more money in 1953 than in 1952 for the same item.

In other words, £1 in 1952 is equivalent in purchasing power to £1.03 in 1953.

The 1952 inflation rate was 9.17%. The inflation rate in 1953 was 3.05%. The 1953 inflation rate is lower compared to the average inflation rate of 5.21% per year between 1953 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1953 was 40.5. It was 39.3 in the previous year, 1952. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1952 to 1953
Average inflation rate 3.05%
Converted amount (£1 base) £1.03
Price difference (£1 base) £0.03
CPI in 1952 39.300
CPI in 1953 40.500
Inflation in 1952 9.17%
Inflation in 1953 3.05%


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


How to Calculate Inflation Rate for £1, 1952 to 1953

This inflation calculator uses the following inflation rate formula:

CPI in 1953CPI in 1952
×
1952 GBP value
=
1953 GBP value

Then plug in historical CPI values. The UK CPI was 39.3 in the year 1952 and 40.5 in 1953:

40.539.3
×
£1
=
£1.03

£1 in 1952 has the same "purchasing power" or "buying power" as £1.03 in 1953.

To get the total inflation rate for the 1 years between 1952 and 1953, we use the following formula:

CPI in 1953 - CPI in 1952CPI in 1952
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

40.5 - 39.339.3
×
100
=
3%

News headlines from 1952

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

  • Queen Elizabeth II's succeeds King George VI to the British throne.
  • The concept of the integrated circuit, the basis of modern computers, is published for the first time by Geoffrey Dummer.

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 1953 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 14 Nov. 2018, https://www.officialdata.org/UK-inflation-rate-in-1953.

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


» Read more about inflation and investment.