£1 in 1950 is worth £0.97 in 1949

Value of £1 from 1950 to 1949

£1 in 1950 is equivalent in purchasing power to about £0.97 in 1949. The pound had an average inflation rate of 3.13% per year between 1949 and 1950, producing a cumulative price increase of -3.03%.

This means that prices in 1949 are 3.03% lower than average prices since 1950, according to the Office for National Statistics composite price index.

The inflation rate in 1949 was 2.89%. The inflation rate in 1950 was 3.13%. The 1950 inflation rate is lower compared to the average inflation rate of 5.21% per year between 1950 and 2024.


Inflation from 1950 to 1949
Average inflation rate3.13%
Converted amount
£1 base
£0.97
Price difference
£1 base
£-0.03
CPI in 195033.000
CPI in 194932.000
Inflation in 19492.89%
Inflation in 19503.13%
£1 in 1950£0.97 in 1949

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

How to calculate inflation rate for £1, 1949 to 1950

Our calculations use the following inflation rate formula to calculate the change in value between 1949 and 1950:

CPI in 1949 CPI in 1950
×
1950 GBP value
=
1949 GBP value

Then plug in historical CPI values. The U.K. CPI was 33 in the year 1950 and 32 in 1949:

3233
×
£1
=
£0.97

£1 in 1950 has the same "purchasing power" or "buying power" as £0.97 in 1949.

To get the total inflation rate for the 1 years between 1949 and 1950, we use the following formula:

CPI in 1949 - CPI in 1950CPI in 1950
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

32 - 3333
×
100
=
-3%

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 1950 → 1949 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/1950-GBP-in-1949?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 1950 to 1949
Average inflation rate3.13%
Converted amount
£1 base
£0.97
Price difference
£1 base
£-0.03
CPI in 195033.000
CPI in 194932.000
Inflation in 19492.89%
Inflation in 19503.13%
£1 in 1950£0.97 in 1949