UK inflation rate in 1963: 1.89%

UK Inflation Calculator


Inflation in 1963 and Its Effect on Pound Value

Purchasing power decreased by 1.89% in 1963 compared to 1962. On average, you would have to spend 1.89% more money in 1963 than in 1962 for the same item.

In other words, £1 in 1962 is equivalent in purchasing power to about £1.02 in 1963.

The 1962 inflation rate was 4.33%. The inflation rate in 1963 was 1.89%. The 1963 inflation rate is lower compared to the average inflation rate of 5.57% per year between 1963 and 2019.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1963 was 54.00. It was 53.00 in the previous year, 1962. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

Inflation from 1962 to 1963
Average inflation rate 1.89%
Converted amount (£1 base) £1.02
Price difference (£1 base) £0.02
CPI in 1962 53.000
CPI in 1963 54.000
Inflation in 1962 4.33%
Inflation in 1963 1.89%

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

How to Calculate Inflation Rate for £1, 1962 to 1963

This inflation calculator uses the following inflation rate formula:

CPI in 1963CPI in 1962
1962 GBP value
1963 GBP value

Then plug in historical CPI values. The UK CPI was 53 in the year 1962 and 54 in 1963:


£1 in 1962 has the same "purchasing power" or "buying power" as £1.02 in 1963.

To get the total inflation rate for the 1 years between 1962 and 1963, we use the following formula:

CPI in 1963 - CPI in 1962CPI in 1962
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

54 - 5353

News headlines from 1962

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

  • The second Vatican Council is convened by Pope John XXIII.
  • The American President, Kennedy, orders the naval blockade of Cuba marking the beginning of the missile crisis.
  • The Cuban missile crisis also known as Black Saturday begins.

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 1963 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Apr. 2019,

Special thanks to QuickChart for providing downloadable chart images. is a reference website maintained by the Official Data Foundation.

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