£1 in 1895 is worth £1.07 in 1901

£

Value of £1 from 1895 to 1901

According to the Office for National Statistics composite price index, prices in 1901 are 6.98% higher than average prices since 1895. The British pound experienced an average inflation rate of 1.13% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1895 is equivalent in purchasing power to about £1.07 in 1901, a difference of £0.07 over 6 years.

The 1895 inflation rate was -1.15%. The inflation rate in 1901 was 0.00%. The 1901 inflation rate is lower compared to the average inflation rate of 4.13% per year between 1901 and 2020.

 Cumulative price change 6.98% Average inflation rate 1.13% Converted amount (£1 base) £1.07 Price difference (£1 base) £0.07 CPI in 1895 8.600 CPI in 1901 9.200 Inflation in 1895 -1.15% Inflation in 1901 0.00%

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI

Buying power of £1 in 1895

This chart shows a calculation of buying power equivalence for £1 in 1895 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.07 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.07 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1895 dollars, the chart below shows how £1 is worth less over 6 years.

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:

Pound inflation: 1895-1901
Year Pound Value Inflation Rate
1895 £1.00 -1.15%
1896 £0.99 -1.16%
1897 £1.01 2.35%
1898 £1.01 0.00%
1899 £1.02 1.15%
1900 £1.07 4.55%
1901 £1.07 0.00%
1902 £1.07 0.00%
1903 £1.08 1.09%
1904 £1.08 0.00%
1905 £1.08 0.00%
1906 £1.08 0.00%
1907 £1.09 1.08%
1908 £1.09 0.00%
1909 £1.10 1.06%
1910 £1.12 1.05%
1911 £1.12 0.00%
1912 £1.15 3.13%
1913 £1.14 -1.01%
1914 £1.14 0.00%
1915 £1.28 12.24%
1916 £1.51 18.18%
1917 £1.90 25.38%
1918 £2.31 22.09%
1919 £2.55 10.05%
1920 £2.94 15.53%
1921 £2.69 -8.70%
1922 £2.31 -13.85%
1923 £2.17 -6.03%
1924 £2.16 -0.53%
1925 £2.16 0.00%
1926 £2.15 -0.54%
1927 £2.09 -2.70%
1928 £2.09 0.00%
1929 £2.07 -1.11%
1930 £2.01 -2.81%
1931 £1.93 -4.05%
1932 £1.88 -2.41%
1933 £1.84 -2.47%
1934 £1.84 0.00%
1935 £1.85 0.63%
1936 £1.86 0.63%
1937 £1.93 3.75%
1938 £1.95 1.20%
1939 £2.01 2.98%
1940 £2.35 16.76%
1941 £2.60 10.89%
1942 £2.79 7.14%
1943 £2.88 3.33%
1944 £2.97 2.82%
1945 £3.05 2.75%
1946 £3.14 3.05%
1947 £3.36 7.04%
1948 £3.62 7.61%
1949 £3.72 2.89%
1950 £3.84 3.13%
1951 £4.19 9.09%
1952 £4.57 9.17%
1953 £4.71 3.05%
1954 £4.80 1.98%
1955 £5.01 4.36%
1956 £5.27 5.10%
1957 £5.45 3.53%
1958 £5.63 3.20%
1959 £5.65 0.41%
1960 £5.71 1.03%
1961 £5.91 3.46%
1962 £6.16 4.33%
1963 £6.28 1.89%
1964 £6.49 3.33%
1965 £6.79 4.66%
1966 £7.06 3.94%
1967 £7.24 2.64%
1968 £7.58 4.65%
1969 £7.99 5.37%
1970 £8.50 6.40%
1971 £9.30 9.44%
1972 £9.97 7.13%
1973 £10.87 9.10%
1974 £12.62 16.04%
1975 £15.67 24.24%
1976 £18.27 16.54%
1977 £21.16 15.85%
1978 £22.92 8.30%
1979 £25.99 13.39%
1980 £30.66 17.99%
1981 £34.30 11.87%
1982 £37.26 8.61%
1983 £38.97 4.59%
1984 £40.91 4.98%
1985 £43.40 6.08%
1986 £44.87 3.40%
1987 £46.74 4.17%
1988 £49.03 4.90%
1989 £52.85 7.78%
1990 £57.85 9.46%
1991 £61.24 5.87%
1992 £63.53 3.74%
1993 £64.55 1.59%
1994 £66.10 2.41%
1995 £68.40 3.47%
1996 £70.05 2.41%
1997 £72.24 3.14%
1998 £74.72 3.43%
1999 £75.87 1.54%
2000 £78.12 2.96%
2001 £79.50 1.77%
2002 £80.83 1.67%
2003 £83.16 2.89%
2004 £85.64 2.98%
2005 £88.06 2.82%
2006 £90.87 3.20%
2007 £94.77 4.29%
2008 £98.55 3.99%
2009 £98.02 -0.53%
2010 £102.55 4.61%
2011 £107.88 5.20%
2012 £111.35 3.21%
2013 £114.73 3.04%
2014 £117.44 2.36%
2015 £118.60 0.99%
2016 £120.66 1.74%
2017 £124.99 3.58%
2018 £128.09 2.48%
2019 £130.40 1.80%
2020 £132.35 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1895 amounts in 1901 pounds, based on the 6.98% change in prices:

Conversion Table: Value of a pound in 1901
Initial value Equivalent value
£1 pound in 1895 £1.07 pounds in 1901
£5 pounds in 1895 £5.35 pounds in 1901
£10 pounds in 1895 £10.70 pounds in 1901
£50 pounds in 1895 £53.49 pounds in 1901
£100 pounds in 1895 £106.98 pounds in 1901
£500 pounds in 1895 £534.88 pounds in 1901
£1,000 pounds in 1895 £1,069.77 pounds in 1901
£5,000 pounds in 1895 £5,348.84 pounds in 1901
£10,000 pounds in 1895 £10,697.67 pounds in 1901
£50,000 pounds in 1895 £53,488.37 pounds in 1901
£100,000 pounds in 1895 £106,976.74 pounds in 1901
£500,000 pounds in 1895 £534,883.72 pounds in 1901
£1,000,000 pounds in 1895 £1,069,767.44 pounds in 1901

How to Calculate Inflation Rate for £1, 1895 to 1901

Our calculations use the following inflation rate formula to calculate the change in value between 1895 and 1901:

CPI in 1901 CPI in 1895
×
1895 GBP value
=
1901 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.6 in the year 1895 and 9.2 in 1901:

9.28.6
×
£1
=
£1.07

£1 in 1895 has the same "purchasing power" or "buying power" as £1.07 in 1901.

To get the total inflation rate for the 6 years between 1895 and 1901, we use the following formula:

CPI in 1901 - CPI in 1895CPI in 1895
×
100
=
Cumulative inflation rate (6 years)

Plugging in the values to this equation, we get:

9.2 - 8.68.6
×
100
=
7%

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

• Italy invades Abyssinia (Ethiopia today).
• First Sino-Japanese war finishes after signing the Treaty of Shimonoseki.
• Electromagnetic radiation in a wavelength range today known as X-rays were produced by Wilhelm Rontgen, a German physicist.
• The Nobel Prize is established in the will of Swedish chemist Alfred Nobel.

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 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£1 in 1895 → 1901 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 31 May. 2020, https://www.officialdata.org/uk/inflation/1895?amount=1&endYear=1901.