UK inflation rate in 1957: 3.53%

UK Inflation Calculator

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Inflation in 1957 and Its Effect on Pound Value

Purchasing power decreased by 3.53% in 1957 compared to the previous year, 1956. On average, you would have to spend 3.53% more money in 1957 than in 1956 for the same item.

In other words, £100 in 1956 is equivalent in purchasing power to £103.53 in 1957.

The 1956 inflation rate was 5.10%. The inflation rate in 1957 was 3.53%. The 1957 inflation rate is lower compared to the average inflation rate of 5.31% per year between 1957 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1957 was 46.9. It was 45.3 in the previous year, 1956. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1956 to 1957
Average inflation rate 3.53%
Converted amount (£100 base) £103.53
Price difference (£100 base) £3.53
CPI in 1956 45.3
CPI in 1957 46.9
Inflation in 1956 5.10%
Inflation in 1957 3.53%


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


How to Calculate Inflation Rate for £100, 1956 to 1957

This inflation calculator uses the following inflation rate formula:

CPI in 1957CPI in 1956
×
1956 GBP value
=
1957 GBP value

Then plug in historical CPI values. The UK CPI was 45.3 in the year 1956 and 46.9 in 1957:

46.945.3
×
£100
=
£103.53

£100 in 1956 has the same "purchasing power" or "buying power" as £103.53 in 1957.

To get the total inflation rate for the 1 years between 1956 and 1957, we use the following formula:

CPI in 1957 - CPI in 1956CPI in 1956
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

46.9 - 45.345.3
×
100
=
4%

News headlines from 1956

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

  • 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.
  • 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.

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 1957 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Sep. 2018, https://www.officialdata.org/UK-inflation-rate-in-1957.

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


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