# £1 in 1930 is worth £0.96 in 1931

£

## Value of £1 from 1930 to 1931

According to the Office for National Statistics composite price index, prices in 1931 are 4.05% lower than average prices since 1930. The British pound experienced an average deflation rate of -4.05% per year during this period, causing the real value of a pound to increase.

In other words, £1 in 1930 is equivalent in purchasing power to about £0.96 in 1931.

The 1930 inflation rate was -2.81%. The inflation rate in 1931 was -4.05%. The 1931 inflation rate is lower compared to the average inflation rate of 4.87% per year between 1931 and 2020.

 Average inflation rate -4.05% Converted amount (£1 base) £0.96 Price difference (£1 base) £-0.04 CPI in 1930 17.300 CPI in 1931 16.600 Inflation in 1930 -2.81% Inflation in 1931 -4.05%

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

## How to Calculate Inflation Rate for £1, 1930 to 1931

Our calculations use the following inflation rate formula to calculate the change in value between 1930 and 1931:

CPI in 1931 CPI in 1930
×
1930 GBP value
=
1931 GBP value

Then plug in historical CPI values. The U.K. CPI was 17.3 in the year 1930 and 16.6 in 1931:

16.617.3
×
£1
=
£0.96

£1 in 1930 has the same "purchasing power" or "buying power" as £0.96 in 1931.

To get the total inflation rate for the 1 years between 1930 and 1931, we use the following formula:

CPI in 1931 - CPI in 1930CPI in 1930
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

16.6 - 17.317.3
×
100
=
-4%

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

• Mohandas Gandhi protests British salt tax by a 200-mile-long walk.
• Clyde Tombaugh discovers Pluto.
• Lawrence Hyland discovers the first radar by accident.
• Roald Amundsen's leads the first expedition to reach the South Pole.
• American explorer Hiram Bingham discovers Machu Picchu.

## 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: “£1 in 1930 → 1931 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Jun. 2020, https://www.officialdata.org/1930-GBP-in-1931?amount=1.