UK inflation rate in 1964: 3.33%

UK Inflation Calculator


UK Inflation Rate, 1964-2018 (£1)

The composite price index (CPI) in 1964 was 55.8. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 5.67% per year. Prices in 2018 are 1865.2% higher than prices in 1964.

In other words, £1 in the year 1964 is equivalent in purchasing power to £19.65 in 2018, a difference of £18.65 over 54 years.

The current inflation rate in 2018 is 3.10%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1964 to 2018
Cumulative price change 1865.22%
Average inflation rate 5.67%
Price difference (£1 base) £18.65
CPI in 1964 55.8
CPI in 2018 1096.59148

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

How to calculate the inflation rate for £1 since 1964

Start with the inflation rate formula:

CPI in 2018 / CPI in 1964 * 1964 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 55.8 in the year 1964 and 1096.59148 in 2018:

1096.59148 / 55.8 * £1 = £19.65

£1 in 1964 has the same "purchasing power" as £19.65 in 2018.

News headlines from 1964

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

  • Jomo Kenyatta becomes first President of Kenya after it becomes a republic.
  • Nelson Mandela is sentenced to life-long imprisonment in South Africa.
  • President Lyndon B. Johnson signs the Civil Rights Act and Voting Rights Act into law.

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 1964 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 22 Apr. 2018,

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