£1 in 1916 is equivalent in purchasing power to about £1.25 in 1917. The pound had an average inflation rate of 25.38% per year between 1916 and 1917, producing a cumulative price increase of 25.38%. Purchasing power decreased by 25.38% in 1917 compared to 1916. On average, you would have to spend 25.38% more money in 1917 than in 1916 for the same item.

This means that prices in 1917 are 1.25 times higher than average prices since 1916, according to the Office for National Statistics composite price index.

The 1916 inflation rate was 18.18%. The inflation rate in 1917 was 25.38%. The 1917 inflation rate is higher compared to the average inflation rate of 4.19% per year between 1917 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1917 was 16.30. It was 13.00 in the previous year, 1916. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 25.38% |

Converted amount (£1 base) | £1.25 |

Price difference (£1 base) | £0.25 |

CPI in 1916 | 13.000 |

CPI in 1917 | 16.300 |

Inflation in 1916 | 18.18% |

Inflation in 1917 | 25.38% |

£1 in 1916 | £1.25 in 1917 |

Our calculations use the following inflation rate formula to calculate the change in value between 1916 and 1917:

CPI in 1917
CPI in 1916

×

1916 GBP value

=

1917 GBP value

Then plug in historical CPI values. The U.K. CPI was 13 in the year 1916 and 16.3 in 1917:

16.313

×

£1

=

£1 in 1916 has the same "purchasing power" or "buying power" as £1.25 in 1917.

To get the total inflation rate for the 1 years between 1916 and 1917, we use the following formula:

CPI in 1917 - CPI in 1916CPI in 1916

×

100

=

Plugging in the values to this equation, we get:

16.3 - 1313

×

100

=

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

- Ottoman forces successfully defend access to Constantinople, leading to ANZAC forces withdrawal from the Gallipoli Peninsula.
- An estimated 1 million men are killed during the Battle of Verdun.
- The Easter Rising ends after Irish republicans abandon the post office in Dublin and surrenders.
- Tanks known as 'Little Willies' are used for the first time at the Battle of the Somme.
- The first aerial combat in France is won by Manfred von Richthofen, known as The Red Baron, German Luftstreitkrafte flying ace.

You may use the following MLA citation for this page: “Inflation Rate in 1917 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1917.

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 | 25.38% |

Converted amount (£1 base) | £1.25 |

Price difference (£1 base) | £0.25 |

CPI in 1916 | 13.000 |

CPI in 1917 | 16.300 |

Inflation in 1916 | 18.18% |

Inflation in 1917 | 25.38% |

£1 in 1916 | £1.25 in 1917 |