U.K. inflation rate in 1930: -2.81%

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Inflation in 1930 and its effect on pound value

£1 in 1929 is equivalent in purchasing power to about £0.97 in 1930. The pound had an average deflation rate of -2.81% per year since 1929, producing a cumulative price change of -2.81%. Purchasing power increased by 2.81% in 1930 compared to 1929. On average, you would have to spend 2.81% less money in 1930 than in 1929 for the same item. This is an example of deflation.

This means that prices in 1930 are 2.81% lower than average prices since 1929, according to the Office for National Statistics composite price index.

The inflation rate in 1929 was -1.11%. The inflation rate in 1930 was -2.81%. The 1930 inflation rate is lower compared to the average inflation rate of 4.80% per year between 1930 and 2024.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1930 was 17.30. It was 17.80 in the previous year, 1929. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1930 CPI is less than 1929 CPI, negative inflation (also known as deflation) has occurred.

⌃
Inflation from 1929 to 1930
Average inflation rate-2.81%
Converted amount
£1 base		£0.97
Price difference
£1 base		£-0.03
CPI in 192917.800
CPI in 193017.300
Inflation in 1929-1.11%
Inflation in 1930-2.81%
£1 in 1929£0.97 in 1930
Recent GBP inflation
Annual Rate, the Office for National Statistics CPI
Download

How to calculate inflation rate for £1, 1929 to 1930

Our calculations use the following inflation rate formula to calculate the change in value between 1929 and 1930:

CPI in 1930 CPI in 1929
×
1929 GBP value
=
1930 GBP value

Then plug in historical CPI values. The U.K. CPI was 17.8 in the year 1929 and 17.3 in 1930:

17.317.8
×
£1
=
£0.97

£1 in 1929 has the same "purchasing power" or "buying power" as £0.97 in 1930.

To get the total inflation rate for the 1 years between 1929 and 1930, we use the following formula:

CPI in 1930 - CPI in 1929CPI in 1929
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

17.3 - 17.817.8
×
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: “Inflation Rate in 1930 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Nov. 2024, https://www.officialdata.org/UK-inflation-rate-in-1930.

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 1929 to 1930
Average inflation rate-2.81%
Converted amount
£1 base		£0.97
Price difference
£1 base		£-0.03
CPI in 192917.800
CPI in 193017.300
Inflation in 1929-1.11%
Inflation in 1930-2.81%
£1 in 1929£0.97 in 1930