UK inflation rate in 1960: 1.03%

UK Inflation Calculator

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UK Inflation Rate, 1960-2017 (£1)

The composite price index (CPI) in 1960 was 49.1. 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 5.55% per year. Prices in 2017 are 2069.8% higher than prices in 1960.

In other words, £1 in the year 1960 is equivalent to £21.70 in 2017, a difference of £20.70 over 57 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 1960 to 2017
Cumulative price change 2069.75%
Average inflation rate 5.55%
Price difference (£1 base) £20.70
CPI in 1960 49.1
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 1960

Start with the inflation rate formula:

CPI in 2017 / CPI in 1960 * 1960 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 49.1 in the year 1960 and 1065.34818 in 2017:

1065.34818 / 49.1 * £1 = £21.70

£1 in 1960 has the same "purchasing power" as £21.70 in 2017.


News headlines from 1960

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

  • Johnny Cash plays his first concert in a prison.
  • The Bank of France issues new franc currency, worth 100 times the value of old francs.
  • France grants independence to Cameroon (previously French Cameroon) after years of fighting.
  • Guided missiles are launched for the first time from a nuclear powered submarine

Inflation Data Source

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 1960 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/UK-inflation-rate-in-1960.


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