# £8 in 1912 is worth £892.06 in 2018

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## Value of £8 from 1912 to 2018

£8 in 1912 is equivalent in purchasing power to about £892.06 in 2018, an increase of £884.06 over 106 years. The pound had an average inflation rate of 4.55% per year between 1912 and 2018, producing a cumulative price increase of 11,050.73%.

This means that prices in 2018 are 111.51 times higher than average prices since 1912, according to the Office for National Statistics composite price index.

The inflation rate in 1912 was 3.13%. The inflation rate in 2018 was 2.70%. The 2018 inflation rate is higher compared to the average inflation rate of 2.21% per year between 2018 and 2022.

 Cumulative price change 11,050.73% Average inflation rate 4.55% Converted amount (£8 base) £892.06 Price difference (£8 base) £884.06 CPI in 1912 9.900 CPI in 2018 1,103.922 Inflation in 1912 3.13% Inflation in 2018 2.70% £8 in 1912 £892.06 in 2018

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI

## Buying power of £8 in 1912

This chart shows a calculation of buying power equivalence for £8 in 1912 (price index tracking began in 1750).

For example, if you started with £8, you would need to end with £892.06 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £8 is equivalent to £892.06 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1912 dollars, the chart below shows how £8 is worth less over 106 years.

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Pound inflation: 1912-2018
Year Pound Value Inflation Rate
1912 £8.00 3.13%
1913 £7.92 -1.01%
1914 £7.92 0.00%
1915 £8.89 12.24%
1916 £10.51 18.18%
1917 £13.17 25.38%
1918 £16.08 22.09%
1919 £17.70 10.05%
1920 £20.44 15.53%
1921 £18.67 -8.70%
1922 £16.08 -13.85%
1923 £15.11 -6.03%
1924 £15.03 -0.53%
1925 £15.03 0.00%
1926 £14.95 -0.54%
1927 £14.55 -2.70%
1928 £14.55 0.00%
1929 £14.38 -1.11%
1930 £13.98 -2.81%
1931 £13.41 -4.05%
1932 £13.09 -2.41%
1933 £12.77 -2.47%
1934 £12.77 0.00%
1935 £12.85 0.63%
1936 £12.93 0.63%
1937 £13.41 3.75%
1938 £13.58 1.20%
1939 £13.98 2.98%
1940 £16.32 16.76%
1941 £18.10 10.89%
1942 £19.39 7.14%
1943 £20.04 3.33%
1944 £20.61 2.82%
1945 £21.17 2.75%
1946 £21.82 3.05%
1947 £23.35 7.04%
1948 £25.13 7.61%
1949 £25.86 2.89%
1950 £26.67 3.13%
1951 £29.09 9.09%
1952 £31.76 9.17%
1953 £32.73 3.05%
1954 £33.37 1.98%
1955 £34.83 4.36%
1956 £36.61 5.10%
1957 £37.90 3.53%
1958 £39.11 3.20%
1959 £39.27 0.41%
1960 £39.68 1.03%
1961 £41.05 3.46%
1962 £42.83 4.33%
1963 £43.64 1.89%
1964 £45.09 3.33%
1965 £47.19 4.66%
1966 £49.05 3.94%
1967 £50.34 2.64%
1968 £52.69 4.65%
1969 £55.52 5.37%
1970 £59.07 6.40%
1971 £64.65 9.44%
1972 £69.25 7.13%
1973 £75.56 9.10%
1974 £87.68 16.04%
1975 £108.93 24.24%
1976 £126.95 16.54%
1977 £147.07 15.85%
1978 £159.27 8.30%
1979 £180.61 13.39%
1980 £213.09 17.99%
1981 £238.38 11.87%
1982 £258.91 8.61%
1983 £270.79 4.59%
1984 £284.28 4.98%
1985 £301.58 6.08%
1986 £311.84 3.40%
1987 £324.85 4.17%
1988 £340.77 4.90%
1989 £367.27 7.78%
1990 £402.02 9.46%
1991 £425.62 5.87%
1992 £441.54 3.74%
1993 £448.57 1.59%
1994 £459.39 2.41%
1995 £475.31 3.47%
1996 £486.79 2.41%
1997 £502.06 3.14%
1998 £519.27 3.43%
1999 £527.27 1.54%
2000 £542.87 2.96%
2001 £552.48 1.77%
2002 £561.70 1.67%
2003 £577.94 2.89%
2004 £595.15 2.98%
2005 £611.96 2.82%
2006 £631.52 3.20%
2007 £658.59 4.29%
2008 £684.85 3.99%
2009 £681.21 -0.53%
2010 £712.65 4.61%
2011 £749.74 5.20%
2012 £773.82 3.21%
2013 £797.33 3.04%
2014 £816.16 2.36%
2015 £824.24 0.99%
2016 £838.55 1.74%
2017 £868.61 3.58%
2018 £892.06 2.70%
2019 £914.36 2.50%
2020 £930.82 1.80%
2021 £952.06 2.28%
2022 £973.64 2.27%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 100 more rows

This conversion table shows various other 1912 amounts in 2018 pounds, based on the 11,050.73% change in prices:

Conversion: 1912 pounds in 2018
Initial value Equivalent value
£1 pound in 1912 £111.51 pounds in 2018
£5 pounds in 1912 £557.54 pounds in 2018
£10 pounds in 1912 £1,115.07 pounds in 2018
£50 pounds in 1912 £5,575.37 pounds in 2018
£100 pounds in 1912 £11,150.73 pounds in 2018
£500 pounds in 1912 £55,753.65 pounds in 2018
£1,000 pounds in 1912 £111,507.30 pounds in 2018
£5,000 pounds in 1912 £557,536.52 pounds in 2018
£10,000 pounds in 1912 £1,115,073.03 pounds in 2018
£50,000 pounds in 1912 £5,575,365.15 pounds in 2018
£100,000 pounds in 1912 £11,150,730.30 pounds in 2018
£500,000 pounds in 1912 £55,753,651.52 pounds in 2018
£1,000,000 pounds in 1912 £111,507,303.03 pounds in 2018

## How to Calculate Inflation Rate for £8, 1912 to 2018

Our calculations use the following inflation rate formula to calculate the change in value between 1912 and 2018:

CPI in 2018 CPI in 1912
×
1912 GBP value
=
2018 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.9 in the year 1912 and 1103.9223 in 2018:

1103.92239.9
×
£8
=
£892.06

£8 in 1912 has the same "purchasing power" or "buying power" as £892.06 in 2018.

To get the total inflation rate for the 106 years between 1912 and 2018, we use the following formula:

CPI in 2018 - CPI in 1912CPI in 1912
×
100
=
Cumulative inflation rate (106 years)

Plugging in the values to this equation, we get:

1103.9223 - 9.99.9
×
100
=
11,051%

## News headlines from 1912

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

• Geophysicist and meteorologist Alfred Wegener presents the theory of continental drift to the Geological Association of Frankfurt.
• Roald Amundsen explores the South Pole.
• The first and last voyage of RMS Titanic takes place.
• Columbia University approves plans for awarding the Pulitzer Prize in several categories. (The prize was established by Joseph Pulitzer.)

## 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: “£8 in 1912 → 2018 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Jan. 2022, https://www.officialdata.org/1912-GBP-in-2018?amount=8.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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

#### About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Cumulative price change 11,050.73% Average inflation rate 4.55% Converted amount (£8 base) £892.06 Price difference (£8 base) £884.06 CPI in 1912 9.900 CPI in 2018 1,103.922 Inflation in 1912 3.13% Inflation in 2018 2.70% £8 in 1912 £892.06 in 2018