£2,000 in 1945 → £84,091.10 in 2018

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£2,000 in 1945 → £84,091.10 in 2018

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UK Inflation Rate, £2,000 in 1945 to 2018

According to the Office for National Statistics composite price index, prices in 2018 are 4,104.55% higher than average prices throughout 1945. The pound experienced an average inflation rate of 5.26% per year during this period, meaning the real value of a dollar decreased.

In other words, £2,000 in 1945 is equivalent in purchasing power to about £84,091.10 in 2018, a difference of £82,091.10 over 73 years.

The 1945 inflation rate was 2.75%. The inflation rate in 2018 was 2.48%. The 2018 inflation rate is higher compared to the average inflation rate of 1.80% per year between 2018 and 2019.


Inflation from 1945 to 2018
Cumulative price change 4,104.55%
Average inflation rate 5.26%
Converted amount (£2,000 base) £84,091.10
Price difference (£2,000 base) £82,091.10
CPI in 1945 26.200
CPI in 2018 1,101.593
Inflation in 1945 2.75%
Inflation in 2018 2.48%

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


Buying power of £2,000 in 1945

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £2,000 in 1945 (price index tracking began in 1750).

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:

Year Pound Value Inflation Rate
1945 £2,000.00 2.75%
1946 £2,061.07 3.05%
1947 £2,206.11 7.04%
1948 £2,374.05 7.61%
1949 £2,442.75 2.89%
1950 £2,519.08 3.13%
1951 £2,748.09 9.09%
1952 £3,000.00 9.17%
1953 £3,091.60 3.05%
1954 £3,152.67 1.98%
1955 £3,290.08 4.36%
1956 £3,458.02 5.10%
1957 £3,580.15 3.53%
1958 £3,694.66 3.20%
1959 £3,709.92 0.41%
1960 £3,748.09 1.03%
1961 £3,877.86 3.46%
1962 £4,045.80 4.33%
1963 £4,122.14 1.89%
1964 £4,259.54 3.33%
1965 £4,458.02 4.66%
1966 £4,633.59 3.94%
1967 £4,755.73 2.64%
1968 £4,977.10 4.65%
1969 £5,244.27 5.37%
1970 £5,580.15 6.40%
1971 £6,106.87 9.44%
1972 £6,541.98 7.13%
1973 £7,137.40 9.10%
1974 £8,282.44 16.04%
1975 £10,290.08 24.24%
1976 £11,992.37 16.54%
1977 £13,893.13 15.85%
1978 £15,045.80 8.30%
1979 £17,061.07 13.39%
1980 £20,129.77 17.99%
1981 £22,519.08 11.87%
1982 £24,458.02 8.61%
1983 £25,580.15 4.59%
1984 £26,854.96 4.98%
1985 £28,488.55 6.08%
1986 £29,458.02 3.40%
1987 £30,687.02 4.17%
1988 £32,190.84 4.90%
1989 £34,694.66 7.78%
1990 £37,977.10 9.46%
1991 £40,206.11 5.87%
1992 £41,709.92 3.74%
1993 £42,374.05 1.59%
1994 £43,396.95 2.41%
1995 £44,900.76 3.47%
1996 £45,984.73 2.41%
1997 £47,427.48 3.14%
1998 £49,053.44 3.43%
1999 £49,809.16 1.54%
2000 £51,282.44 2.96%
2001 £52,190.84 1.77%
2002 £53,061.07 1.67%
2003 £54,595.42 2.89%
2004 £56,221.37 2.98%
2005 £57,809.16 2.82%
2006 £59,656.49 3.20%
2007 £62,213.74 4.29%
2008 £64,694.66 3.99%
2009 £64,351.15 -0.53%
2010 £67,320.61 4.61%
2011 £70,824.43 5.20%
2012 £73,099.24 3.21%
2013 £75,320.61 3.04%
2014 £77,099.24 2.36%
2015 £77,862.60 0.99%
2016 £79,213.74 1.74%
2017 £82,053.44 3.58%
2018 £84,091.10 2.48%
2019 £85,604.74 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
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How to Calculate Inflation Rate for £2,000, 1945 to 2018

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 1945
×
1945 GBP value
=
2018 GBP value

Then plug in historical CPI values. The UK CPI was 26.2 in the year 1945 and 1101.59335 in 2018:

1101.5933526.2
×
£2,000
=
£84,091.10

£2,000 in 1945 has the same "purchasing power" or "buying power" as £84,091.10 in 2018.

To get the total inflation rate for the 73 years between 1945 and 2018, we use the following formula:

CPI in 2018 - CPI in 1945CPI in 1945
×
100
=
Cumulative inflation rate (73 years)

Plugging in the values to this equation, we get:

1101.59335 - 26.226.2
×
100
=
4,105%

News headlines from 1945

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

  • The USSR captures Budapest from Germany in a battle that kills 159,000 people.
  • The US Fleet captures Iwo Jima.
  • 1,500 US Navy ships bomb Okinawa: the operation is believed to be the largest of World War II
  • Iwo Jima is occupied by America, costing 6,000 American lives and a further 18,000 Japanese lives.
  • Buchenwald, the first Nazi concentration camp, is liberated.

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: “£2,000 in 1945 → 2018 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Oct. 2019, https://www.officialdata.org/1945-GBP-in-2018?amount=2000.

Special thanks to QuickChart for providing downloadable chart images.

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


» Read more about inflation and investment.

Inflation from 1945 to 2018
Cumulative price change 4,104.55%
Average inflation rate 5.26%
Converted amount (£2,000 base) £84,091.10
Price difference (£2,000 base) £82,091.10
CPI in 1945 26.200
CPI in 2018 1,101.593
Inflation in 1945 2.75%
Inflation in 2018 2.48%
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