£1 in 1915 is worth £1.18 in 1916

Value of £1 from 1915 to 1916

According to the Office for National Statistics composite price index, prices in 1916 are 18.18% higher than average prices since 1915. The British pound experienced an average inflation rate of 18.18% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1915 is equivalent in purchasing power to about £1.18 in 1916.

The 1915 inflation rate was 12.24%. The inflation rate in 1916 was 18.18%. The 1916 inflation rate is higher compared to the average inflation rate of 4.39% per year between 1916 and 2020.


Inflation from 1915 to 1916
Average inflation rate 18.18%
Converted amount (£1 base) £1.18
Price difference (£1 base) £0.18
CPI in 1915 11.000
CPI in 1916 13.000
Inflation in 1915 12.24%
Inflation in 1916 18.18%

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

How to Calculate Inflation Rate for £1, 1915 to 1916

Our calculations use the following inflation rate formula to calculate the change in value between 1915 and 1916:

CPI in 1916 CPI in 1915
×
1915 GBP value
=
1916 GBP value

Then plug in historical CPI values. The U.K. CPI was 11 in the year 1915 and 13 in 1916:

1311
×
£1
=
£1.18

£1 in 1915 has the same "purchasing power" or "buying power" as £1.18 in 1916.

To get the total inflation rate for the 1 years between 1915 and 1916, we use the following formula:

CPI in 1916 - CPI in 1915CPI in 1915
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

13 - 1111
×
100
=
18%

News headlines from 1915

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

  • French troops force Germans back into the Champagne region, suffering losses of 50,000 men and gaining several hundred yards.
  • Germany uses poison gas for the first time in World War I.
  • Almost 430,000 French, British, and Germans are killed in the Battle of Loos.
  • The one-millionth Model T is produced by Ford Motor Company.

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 1915 → 1916 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Jul. 2020, https://www.officialdata.org/uk/inflation/1915?amount=1&endYear=1916.

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 1915 to 1916
Average inflation rate 18.18%
Converted amount (£1 base) £1.18
Price difference (£1 base) £0.18
CPI in 1915 11.000
CPI in 1916 13.000
Inflation in 1915 12.24%
Inflation in 1916 18.18%