£

# UK inflation rate in 1964: 3.33%

### Inflation in 1964 and Its Effect on Pound Value

Purchasing power decreased by 3.33% in 1964 compared to 1963. On average, you would have to spend 3.33% more money in 1964 than in 1963 for the same item.

In other words, £1 in 1963 is equivalent in purchasing power to about £1.03 in 1964.

The 1963 inflation rate was 1.89%. The inflation rate in 1964 was 3.33%. The 1964 inflation rate is lower compared to the average inflation rate of 5.61% per year between 1964 and 2019.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1964 was 55.80. It was 54.00 in the previous year, 1963. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 3.33% Converted amount (£1 base) £1.03 Price difference (£1 base) £0.03 CPI in 1963 54.000 CPI in 1964 55.800 Inflation in 1963 1.89% Inflation in 1964 3.33%

### How to Calculate Inflation Rate for £1, 1963 to 1964

This inflation calculator uses the following inflation rate formula:

CPI in 1964CPI in 1963
×
1963 GBP value
=
1964 GBP value

Then plug in historical CPI values. The UK CPI was 54 in the year 1963 and 55.8 in 1964:

55.854
×
£1
=
£1.03

£1 in 1963 has the same "purchasing power" or "buying power" as £1.03 in 1964.

To get the total inflation rate for the 1 years between 1963 and 1964, we use the following formula:

CPI in 1964 - CPI in 1963CPI in 1963
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

55.8 - 5454
×
100
=
3%

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

• Iran is besieged and Ayatollah Khomeini is arrested.
• President John F. Kennedy says segregation is morally wrong and appeals for action.
• Sarawak is granted independence from British colonial rule.
• The "I have a dream" speech is delivered by Martin Luther King Jr addressing civil rights march in Washington.
• John F. Kennedy is assassinated by Lee Harvey Oswald in Dallas.

### 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 1964 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Jul. 2019, https://www.officialdata.org/UK-inflation-rate-in-1964.

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

 Average inflation rate 3.33% Converted amount (£1 base) £1.03 Price difference (£1 base) £0.03 CPI in 1963 54.000 CPI in 1964 55.800 Inflation in 1963 1.89% Inflation in 1964 3.33%