£1 in 1915 is equivalent in purchasing power to about £1.18 in 1916. The pound had an average inflation rate of 18.18% per year between 1915 and 1916, producing a cumulative price increase of 18.18%. Purchasing power decreased by 18.18% in 1916 compared to 1915. On average, you would have to spend 18.18% more money in 1916 than in 1915 for the same item.

This means that prices in 1916 are 1.18 times higher than average prices since 1915, according to the Office for National Statistics composite price index.

The 1915 inflation rate was 12.24%. The inflation rate in 1916 was 18.18%. The 1916 inflation rate is higher compared to the average inflation rate of 4.37% per year between 1916 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1916 was 13.00. It was 11.00 in the previous year, 1915. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 18.18% |

Converted amount (£1 base) | £1.18 |

Price difference (£1 base) | £0.18 |

CPI in 1915 | 11.000 |

CPI in 1916 | 13.000 |

Inflation in 1915 | 12.24% |

Inflation in 1916 | 18.18% |

£1 in 1915 | £1.18 in 1916 |

Our calculations use the following inflation rate formula to calculate the change in value between 1915 and 1916:

CPI in 1916
CPI in 1915

×

1915 GBP value

=

1916 GBP value

Then plug in historical CPI values. The U.K. CPI was 11 in the year 1915 and 13 in 1916:

1311

×

£1

=

£1 in 1915 has the same "purchasing power" or "buying power" as £1.18 in 1916.

To get the total inflation rate for the 1 years between 1915 and 1916, we use the following formula:

CPI in 1916 - CPI in 1915CPI in 1915

×

100

=

Plugging in the values to this equation, we get:

13 - 1111

×

100

=

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

- French troops force Germans back into the Champagne region, suffering losses of 50,000 men and gaining several hundred yards.
- Germany uses poison gas for the first time in World War I.
- Almost 430,000 French, British, and Germans are killed in the Battle of Loos.
- The one-millionth Model T is produced by Ford Motor Company.

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 1916 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1916.

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 | 18.18% |

Converted amount (£1 base) | £1.18 |

Price difference (£1 base) | £0.18 |

CPI in 1915 | 11.000 |

CPI in 1916 | 13.000 |

Inflation in 1915 | 12.24% |

Inflation in 1916 | 18.18% |

£1 in 1915 | £1.18 in 1916 |