UK inflation rate in 1956: 5.10%

UK Inflation Calculator

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UK Inflation Rate, 1956-2017 (£1)

The composite price index (CPI) in 1956 was 45.3. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics, the pound experienced an average inflation rate of 5.31% per year. Prices in 2017 are 2251.8% higher than prices in 1956.

In other words, £1 in the year 1956 is equivalent to £23.52 in 2017, a difference of £22.52 over 61 years.

The current inflation rate in 2017 is 2.70%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1956 to 2017
Cumulative price change 2251.76%
Average inflation rate 5.31%
Price difference (£1 base) £22.52
CPI in 1956 45.3
CPI in 2017 1065.34818


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


How to calculate the inflation rate for £1 since 1956

Start with the inflation rate formula:

CPI in 2017 / CPI in 1956 * 1956 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 45.3 in the year 1956 and 1065.34818 in 2017:

1065.34818 / 45.3 * £1 = £23.52

£1 in 1956 has the same "purchasing power" as £23.52 in 2017.


News headlines from 1956

Politics and news often play an important role in economic performance.

  • Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
  • Morocco declares independence from France, tearing up the Treaty of Fez.
  • IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
  • 1957 Great Britain grants the Federation of Malaya independence
  • President Eisenhower orders the desegregation of Little Rock schools
  • Shippingport Atomic Power Station in Pennsylvania, becomes the world's first nuclear power station to generate electricity.

Inflation Data Source: This calculator uses 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.


» Read more about inflation.