£1 in 1934 is equivalent in purchasing power to about £1.01 in 1935. The pound had an average inflation rate of 0.63% per year between 1934 and 1935, producing a cumulative price increase of 0.63%. Purchasing power decreased by 0.63% in 1935 compared to 1934. On average, you would have to spend 0.63% more money in 1935 than in 1934 for the same item.

This means that prices in 1935 are 1.01 times higher than average prices since 1934, according to the Office for National Statistics composite price index.

The inflation rate in 1934 was 0.00%. The inflation rate in 1935 was 0.63%. The 1935 inflation rate is lower compared to the average inflation rate of 5.10% per year between 1935 and 2022.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1935 was 15.90. It was 15.80 in the previous year, 1934. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 0.63% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1934 | 15.800 |

CPI in 1935 | 15.900 |

Inflation in 1934 | 0.00% |

Inflation in 1935 | 0.63% |

£1 in 1934 | £1.01 in 1935 |

Our calculations use the following inflation rate formula to calculate the change in value between 1934 and 1935:

CPI in 1935
CPI in 1934

×

1934 GBP value

=

1935 GBP value

Then plug in historical CPI values. The U.K. CPI was 15.8 in the year 1934 and 15.9 in 1935:

15.915.8

×

£1

=

£1 in 1934 has the same "purchasing power" or "buying power" as £1.01 in 1935.

To get the total inflation rate for the 1 years between 1934 and 1935, we use the following formula:

CPI in 1935 - CPI in 1934CPI in 1934

×

100

=

Plugging in the values to this equation, we get:

15.9 - 15.815.8

×

100

=

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

- American and Canadian prairies suffer during "The Great Dustbowl", a period of drought and severe dust storms.
- John Dillinger becomes commonly known as America's first Public Enemy Number One.
- Hitler brutally purges the leadership of the Nazi party in an event known as "Night of Long Knives".
- Stalin begins the Great Purge of the Communist party.

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 1935 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Jan. 2022, https://www.officialdata.org/UK-inflation-rate-in-1935.

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 | 0.63% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1934 | 15.800 |

CPI in 1935 | 15.900 |

Inflation in 1934 | 0.00% |

Inflation in 1935 | 0.63% |

£1 in 1934 | £1.01 in 1935 |