£1 in 1912 is equivalent in purchasing power to about £0.99 in 1913.
The pound had an average **deflation** rate of -1.01% per year since 1912, producing a cumulative price change of -1.01%.
Purchasing power *increased* by 1.01% in 1913 compared to 1912. On average, you would have to spend 1.01% *less* money in 1913 than in 1912 for the same item.
This is an example of **deflation**.

This means that prices in 1913 are 1.01% lower than average prices since 1912, according to the Office for National Statistics composite price index.

The 1912 inflation rate was 3.13%. The inflation rate in 1913 was -1.01%. The 1913 inflation rate is lower compared to the average inflation rate of 4.52% per year between 1913 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1913 was 9.80. It was 9.90 in the previous year, 1912. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1913 CPI is less than 1912 CPI, negative inflation (also known as deflation) has occurred.

⌃

Average inflation rate | -1.01% |

Converted amount (£1 base) | £0.99 |

Price difference (£1 base) | £-0.01 |

CPI in 1912 | 9.900 |

CPI in 1913 | 9.800 |

Inflation in 1912 | 3.13% |

Inflation in 1913 | -1.01% |

£1 in 1912 | £0.99 in 1913 |

Our calculations use the following inflation rate formula to calculate the change in value between 1912 and 1913:

CPI in 1913
CPI in 1912

×

1912 GBP value

=

1913 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.9 in the year 1912 and 9.8 in 1913:

9.89.9

×

£1

=

£1 in 1912 has the same "purchasing power" or "buying power" as £0.99 in 1913.

To get the total inflation rate for the 1 years between 1912 and 1913, we use the following formula:

CPI in 1913 - CPI in 1912CPI in 1912

×

100

=

Plugging in the values to this equation, we get:

9.8 - 9.99.9

×

100

=

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.)

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: “Inflation Rate in 1913 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1913.

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.

Average inflation rate | -1.01% |

Converted amount (£1 base) | £0.99 |

Price difference (£1 base) | £-0.01 |

CPI in 1912 | 9.900 |

CPI in 1913 | 9.800 |

Inflation in 1912 | 3.13% |

Inflation in 1913 | -1.01% |

£1 in 1912 | £0.99 in 1913 |