Value of £1 from 1870 to 1908
£1 in 1870 is equivalent in purchasing power to about £0.99 in 1908, a difference of £-0.01 over 38 years. The pound had an average deflation rate of -0.03% per year since 1870, producing a cumulative price change of -1.05%.
This means that prices in 1908 are 1.05% lower than average prices since 1870, according to the Office for National Statistics composite price index.
The inflation rate in 1870 was 0.00%. The inflation rate in 1908 was 0.00%. The 1908 inflation rate is lower compared to the average inflation rate of 4.40% per year between 1908 and 2025.
⌃
| Cumulative price change | -1.05% |
| Average inflation rate | -0.03% |
| Converted amount £1 base | £0.99 |
| Price difference £1 base | £-0.01 |
| CPI in 1870 | 9.500 |
| CPI in 1908 | 9.400 |
| Inflation in 1870 | 0.00% |
| Inflation in 1908 | 0.00% |
| £1 in 1870 | £0.99 in 1908 |
Buying power of £1 in 1870
This chart shows a calculation of buying power equivalence for £1 in 1870 (price index tracking began in 1750).
For example, if you started with £1, you would need to end with £0.99 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1870 amounts in 1908 pounds, based on the -1.05% change in prices:
| Initial value | Equivalent value |
|---|---|
| £1 pound in 1870 | £0.99 pounds in 1908 |
| £5 pounds in 1870 | £4.95 pounds in 1908 |
| £10 pounds in 1870 | £9.89 pounds in 1908 |
| £50 pounds in 1870 | £49.47 pounds in 1908 |
| £100 pounds in 1870 | £98.95 pounds in 1908 |
| £500 pounds in 1870 | £494.74 pounds in 1908 |
| £1,000 pounds in 1870 | £989.47 pounds in 1908 |
| £5,000 pounds in 1870 | £4,947.37 pounds in 1908 |
| £10,000 pounds in 1870 | £9,894.74 pounds in 1908 |
| £50,000 pounds in 1870 | £49,473.68 pounds in 1908 |
| £100,000 pounds in 1870 | £98,947.37 pounds in 1908 |
| £500,000 pounds in 1870 | £494,736.84 pounds in 1908 |
| £1,000,000 pounds in 1870 | £989,473.68 pounds in 1908 |
How to calculate inflation rate for £1, 1870 to 1908
Our calculations use the following inflation rate formula to calculate the change in value between 1870 and 1908:
CPI in 1908 CPI in 1870
×
1870 GBP value
=
1908 GBP value
Then plug in historical CPI values. The U.K. CPI was 9.5 in the year 1870 and 9.4 in 1908:
9.49.5
×
£1
=
£0.99
£1 in 1870 has the same "purchasing power" or "buying power" as £0.99 in 1908.
To get the total inflation rate for the 38 years between 1870 and 1908, we use the following formula:
CPI in 1908 - CPI in 1870CPI in 1870
×
100
=
Cumulative inflation rate (38 years)
Plugging in the values to this equation, we get:
9.4 - 9.59.5
×
100
=
-1%
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: “£1 in 1870 → 1908 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Dec. 2025, https://www.officialdata.org/uk/inflation/1870?amount=1&endYear=1908.
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.
| Cumulative price change | -1.05% |
| Average inflation rate | -0.03% |
| Converted amount £1 base | £0.99 |
| Price difference £1 base | £-0.01 |
| CPI in 1870 | 9.500 |
| CPI in 1908 | 9.400 |
| Inflation in 1870 | 0.00% |
| Inflation in 1908 | 0.00% |
| £1 in 1870 | £0.99 in 1908 |