According to the Office for National Statistics composite price index, today's prices in 2020 are 13,291.10% higher than average prices since 1896. This means that a pound today only buys 0.75% of what it could buy in 1896. The British pound experienced an average inflation rate of 4.03% per year during this period, causing the real value of a pound to decrease.

In other words, £100 in 1896 is equivalent in purchasing power to about £13,391.10 in 2020, a difference of £13,291.10 over 124 years.

The 1896 inflation rate was -1.16%. The current year-over-year inflation rate (2019 to 2020) is now 1.50%^{1}.
If this number holds, £100 today will be equivalent in buying power to £101.50 next year.

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Cumulative price change | 13,291.10% |

Average inflation rate | 4.03% |

Converted amount (£100 base) | £13,391.10 |

Price difference (£100 base) | £13,291.10 |

CPI in 1896 | 8.500 |

CPI in 2020 | 1,138.243 |

Inflation in 1896 | -1.16% |

Inflation in 2020 | 1.50% |

This chart shows a calculation of buying power equivalence for £100 in 1896 (price index tracking began in 1750).

For example, if you started with £100, you would need to end with £13,391.10 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £100 is equivalent to £13,391.10 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 1896 dollars, the chart below shows how £100 is worth less over 124 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:

This conversion table shows various other 1896 amounts in today's pounds, based on the 13,291.10% change in prices:

Initial value | Equivalent value |
---|---|

£1 pound in 1896 | £133.91 pounds today |

£5 pounds in 1896 | £669.55 pounds today |

£10 pounds in 1896 | £1,339.11 pounds today |

£50 pounds in 1896 | £6,695.55 pounds today |

£100 pounds in 1896 | £13,391.10 pounds today |

£500 pounds in 1896 | £66,955.49 pounds today |

£1,000 pounds in 1896 | £133,910.98 pounds today |

£5,000 pounds in 1896 | £669,554.92 pounds today |

£10,000 pounds in 1896 | £1,339,109.84 pounds today |

£50,000 pounds in 1896 | £6,695,549.18 pounds today |

£100,000 pounds in 1896 | £13,391,098.36 pounds today |

£500,000 pounds in 1896 | £66,955,491.81 pounds today |

£1,000,000 pounds in 1896 | £133,910,983.62 pounds today |

Our calculations use the following inflation rate formula to calculate the change in value between 1896 and today:

CPI today
CPI in 1896

×

1896 GBP value

=

Today's value

Then plug in historical CPI values. The U.K. CPI was 8.5 in the year 1896 and 1138.2433607545 in 2020:

1138.24336075458.5

×

£100

=

£100 in 1896 has the same "purchasing power" or "buying power" as £13,391.10 in 2020.

To get the total inflation rate for the 124 years between 1896 and 2020, we use the following formula:

CPI in 2020 - CPI in 1896CPI in 1896

×

100

=

Plugging in the values to this equation, we get:

1138.2433607545 - 8.58.5

×

100

=

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

- First use of radiation treatment for breast cancer by Doctor Emile Grubbe.
- The first Modern Olympic Games take place in Athens. American James Connolly wins the first Olympic gold medal in modern history.
- The world experiences its first car accident when Henry Wells hit a cyclist.

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: “Value of 1896 pounds today | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 12 Sep. 2020, https://www.officialdata.org/uk/inflation/1896.

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 | 13,291.10% |

Average inflation rate | 4.03% |

Converted amount (£100 base) | £13,391.10 |

Price difference (£100 base) | £13,291.10 |

CPI in 1896 | 8.500 |

CPI in 2020 | 1,138.243 |

Inflation in 1896 | -1.16% |

Inflation in 2020 | 1.50% |