UK inflation rate in 1959: 0.41%

UK Inflation Calculator

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Inflation in 1959 and Its Effect on Pound Value

Purchasing power decreased by 0.41% in 1959 compared to the previous year, 1958. On average, you would have to spend 0.41% more money in 1959 than in 1958 for the same item.

In other words, £100 in 1958 is equivalent in purchasing power to £100.41 in 1959.

The 1958 inflation rate was 3.20%. The inflation rate in 1959 was 0.41%. The 1959 inflation rate is lower compared to the average inflation rate of 5.43% per year between 1959 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1959 was 48.6. It was 48.4 in the previous year, 1958. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1958 to 1959
Average inflation rate 0.41%
Converted amount (£100 base) £100.41
Price difference (£100 base) £0.41
CPI in 1958 48.4
CPI in 1959 48.6
Inflation in 1958 3.20%
Inflation in 1959 0.41%


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


How to Calculate Inflation Rate for £100, 1958 to 1959

This inflation calculator uses the following inflation rate formula:

CPI in 1959CPI in 1958
×
1958 GBP value
=
1959 GBP value

Then plug in historical CPI values. The UK CPI was 48.4 in the year 1958 and 48.6 in 1959:

48.648.4
×
£100
=
£100.41

£100 in 1958 has the same "purchasing power" or "buying power" as £100.41 in 1959.

To get the total inflation rate for the 1 years between 1958 and 1959, we use the following formula:

CPI in 1959 - CPI in 1958CPI in 1958
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

48.6 - 48.448.4
×
100
=
0%

News headlines from 1958

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

  • The European Economic Community is founded.
  • Nikita Khrushchev is named First Secretary of the Communist Party and Soviet Premier.
  • The "Great leap forward" movement in China is started by Mao Zedong.
  • Fulgencio Batista, the Cuban dictator, announces to his Cabinet that he is fleeing the country.

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 1959 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 25 Sep. 2018, https://www.officialdata.org/UK-inflation-rate-in-1959.

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


» Read more about inflation.