£1 in 1930 is worth £0.91 in 1934

Value of £1 from 1930 to 1934

£1 in 1930 is equivalent in purchasing power to about £0.91 in 1934, a difference of £-0.09 over 4 years. The pound had an average deflation rate of -2.24% per year since 1930, producing a cumulative price change of -8.67%.

This means that prices in 1934 are 8.67% lower than average prices since 1930, according to the Office for National Statistics composite price index.

The inflation rate in 1930 was -2.81%. The inflation rate in 1934 was 0.00%. The 1934 inflation rate is lower compared to the average inflation rate of 5.12% per year between 1934 and 2024.


Inflation from 1930 to 1934
Cumulative price change-8.67%
Average inflation rate-2.24%
Converted amount
£1 base
£0.91
Price difference
£1 base
£-0.09
CPI in 193017.300
CPI in 193415.800
Inflation in 1930-2.81%
Inflation in 19340.00%
£1 in 1930£0.91 in 1934

GBP inflation since 1930
Annual Rate, the Office for National Statistics CPI
Download

Buying power of £1 in 1930

This chart shows a calculation of buying power equivalence for £1 in 1930 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £0.91 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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: 1930-1934
YearPound ValueInflation Rate
1930£1.00-2.81%
1931£0.96-4.05%
1932£0.94-2.41%
1933£0.91-2.47%
1934£0.910.00%
1935£0.920.63%
1936£0.920.63%
1937£0.963.75%
1938£0.971.20%
1939£1.002.98%
1940£1.1716.76%
1941£1.2910.89%
1942£1.397.14%
1943£1.433.33%
1944£1.472.82%
1945£1.512.75%
1946£1.563.05%
1947£1.677.04%
1948£1.807.61%
1949£1.852.89%
1950£1.913.13%
1951£2.089.09%
1952£2.279.17%
1953£2.343.05%
1954£2.391.98%
1955£2.494.36%
1956£2.625.10%
1957£2.713.53%
1958£2.803.20%
1959£2.810.41%
1960£2.841.03%
1961£2.943.46%
1962£3.064.33%
1963£3.121.89%
1964£3.233.33%
1965£3.384.66%
1966£3.513.94%
1967£3.602.64%
1968£3.774.65%
1969£3.975.37%
1970£4.236.40%
1971£4.629.44%
1972£4.957.13%
1973£5.409.10%
1974£6.2716.04%
1975£7.7924.24%
1976£9.0816.54%
1977£10.5215.85%
1978£11.398.30%
1979£12.9213.39%
1980£15.2417.99%
1981£17.0511.87%
1982£18.528.61%
1983£19.374.59%
1984£20.344.98%
1985£21.576.08%
1986£22.313.40%
1987£23.244.17%
1988£24.384.90%
1989£26.277.78%
1990£28.769.46%
1991£30.455.87%
1992£31.583.74%
1993£32.091.59%
1994£32.862.41%
1995£34.003.47%
1996£34.822.41%
1997£35.913.14%
1998£37.143.43%
1999£37.721.54%
2000£38.832.96%
2001£39.521.77%
2002£40.181.67%
2003£41.342.89%
2004£42.572.98%
2005£43.772.82%
2006£45.173.20%
2007£47.114.29%
2008£48.993.99%
2009£48.73-0.53%
2010£50.984.61%
2011£53.635.20%
2012£55.353.21%
2013£57.033.04%
2014£58.382.36%
2015£58.960.99%
2016£59.981.74%
2017£62.133.58%
2018£63.812.70%
2019£65.412.50%
2020£66.581.80%
2021£68.242.49%
2022£73.637.90%
2023£78.847.07%
2024£81.923.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1930 amounts in 1934 pounds, based on the -8.67% change in prices:

Conversion: 1930 pounds in 1934
Initial valueEquivalent value
£1 pound in 1930£0.91 pounds in 1934
£5 pounds in 1930£4.57 pounds in 1934
£10 pounds in 1930£9.13 pounds in 1934
£50 pounds in 1930£45.66 pounds in 1934
£100 pounds in 1930£91.33 pounds in 1934
£500 pounds in 1930£456.65 pounds in 1934
£1,000 pounds in 1930£913.29 pounds in 1934
£5,000 pounds in 1930£4,566.47 pounds in 1934
£10,000 pounds in 1930£9,132.95 pounds in 1934
£50,000 pounds in 1930£45,664.74 pounds in 1934
£100,000 pounds in 1930£91,329.48 pounds in 1934
£500,000 pounds in 1930£456,647.40 pounds in 1934
£1,000,000 pounds in 1930£913,294.80 pounds in 1934

How to calculate inflation rate for £1, 1930 to 1934

Our calculations use the following inflation rate formula to calculate the change in value between 1930 and 1934:

CPI in 1934 CPI in 1930
×
1930 GBP value
=
1934 GBP value

Then plug in historical CPI values. The U.K. CPI was 17.3 in the year 1930 and 15.8 in 1934:

15.817.3
×
£1
=
£0.91

£1 in 1930 has the same "purchasing power" or "buying power" as £0.91 in 1934.

To get the total inflation rate for the 4 years between 1930 and 1934, we use the following formula:

CPI in 1934 - CPI in 1930CPI in 1930
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

15.8 - 17.317.3
×
100
=
-9%

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 the current year, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£1 in 1930 → 1934 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/1930-GBP-in-1934?amount=1.

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.


Ian Webster

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.

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Inflation from 1930 to 1934
Cumulative price change-8.67%
Average inflation rate-2.24%
Converted amount
£1 base
£0.91
Price difference
£1 base
£-0.09
CPI in 193017.300
CPI in 193415.800
Inflation in 1930-2.81%
Inflation in 19340.00%
£1 in 1930£0.91 in 1934