£1 in 1915 is worth £1.99 in 1919

Value of £1 from 1915 to 1919

£1 in 1915 is equivalent in purchasing power to about £1.99 in 1919, an increase of £0.99 over 4 years. The pound had an average inflation rate of 18.79% per year between 1915 and 1919, producing a cumulative price increase of 99.09%.

This means that prices in 1919 are 1.99 times higher than average prices since 1915, according to the Office for National Statistics composite price index.

The 1915 inflation rate was 12.24%. The inflation rate in 1919 was 10.05%. The 1919 inflation rate is higher compared to the average inflation rate of 3.97% per year between 1919 and 2021.


Inflation from 1915 to 1919
Cumulative price change 99.09%
Average inflation rate 18.79%
Converted amount (£1 base) £1.99
Price difference (£1 base) £0.99
CPI in 1915 11.000
CPI in 1919 21.900
Inflation in 1915 12.24%
Inflation in 1919 10.05%
£1 in 1915 £1.99 in 1919

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

Buying power of £1 in 1915

This chart shows a calculation of buying power equivalence for £1 in 1915 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.99 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.99 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 1915 dollars, the chart below shows how £1 is worth less over 4 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: 1915-1919
Year Pound Value Inflation Rate
1915 £1.00 12.24%
1916 £1.18 18.18%
1917 £1.48 25.38%
1918 £1.81 22.09%
1919 £1.99 10.05%
1920 £2.30 15.53%
1921 £2.10 -8.70%
1922 £1.81 -13.85%
1923 £1.70 -6.03%
1924 £1.69 -0.53%
1925 £1.69 0.00%
1926 £1.68 -0.54%
1927 £1.64 -2.70%
1928 £1.64 0.00%
1929 £1.62 -1.11%
1930 £1.57 -2.81%
1931 £1.51 -4.05%
1932 £1.47 -2.41%
1933 £1.44 -2.47%
1934 £1.44 0.00%
1935 £1.45 0.63%
1936 £1.45 0.63%
1937 £1.51 3.75%
1938 £1.53 1.20%
1939 £1.57 2.98%
1940 £1.84 16.76%
1941 £2.04 10.89%
1942 £2.18 7.14%
1943 £2.25 3.33%
1944 £2.32 2.82%
1945 £2.38 2.75%
1946 £2.45 3.05%
1947 £2.63 7.04%
1948 £2.83 7.61%
1949 £2.91 2.89%
1950 £3.00 3.13%
1951 £3.27 9.09%
1952 £3.57 9.17%
1953 £3.68 3.05%
1954 £3.75 1.98%
1955 £3.92 4.36%
1956 £4.12 5.10%
1957 £4.26 3.53%
1958 £4.40 3.20%
1959 £4.42 0.41%
1960 £4.46 1.03%
1961 £4.62 3.46%
1962 £4.82 4.33%
1963 £4.91 1.89%
1964 £5.07 3.33%
1965 £5.31 4.66%
1966 £5.52 3.94%
1967 £5.66 2.64%
1968 £5.93 4.65%
1969 £6.25 5.37%
1970 £6.65 6.40%
1971 £7.27 9.44%
1972 £7.79 7.13%
1973 £8.50 9.10%
1974 £9.86 16.04%
1975 £12.25 24.24%
1976 £14.28 16.54%
1977 £16.55 15.85%
1978 £17.92 8.30%
1979 £20.32 13.39%
1980 £23.97 17.99%
1981 £26.82 11.87%
1982 £29.13 8.61%
1983 £30.46 4.59%
1984 £31.98 4.98%
1985 £33.93 6.08%
1986 £35.08 3.40%
1987 £36.55 4.17%
1988 £38.34 4.90%
1989 £41.32 7.78%
1990 £45.23 9.46%
1991 £47.88 5.87%
1992 £49.67 3.74%
1993 £50.46 1.59%
1994 £51.68 2.41%
1995 £53.47 3.47%
1996 £54.76 2.41%
1997 £56.48 3.14%
1998 £58.42 3.43%
1999 £59.32 1.54%
2000 £61.07 2.96%
2001 £62.15 1.77%
2002 £63.19 1.67%
2003 £65.02 2.89%
2004 £66.95 2.98%
2005 £68.85 2.82%
2006 £71.05 3.20%
2007 £74.09 4.29%
2008 £77.05 3.99%
2009 £76.64 -0.53%
2010 £80.17 4.61%
2011 £84.35 5.20%
2012 £87.05 3.21%
2013 £89.70 3.04%
2014 £91.82 2.36%
2015 £92.73 0.99%
2016 £94.34 1.74%
2017 £97.72 3.58%
2018 £100.36 2.70%
2019 £102.87 2.50%
2020 £104.72 1.80%
2021 £105.45 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1915 amounts in 1919 pounds, based on the 99.09% change in prices:

Conversion: 1915 pounds in 1919
Initial value Equivalent value
£1 pound in 1915 £1.99 pounds in 1919
£5 pounds in 1915 £9.95 pounds in 1919
£10 pounds in 1915 £19.91 pounds in 1919
£50 pounds in 1915 £99.55 pounds in 1919
£100 pounds in 1915 £199.09 pounds in 1919
£500 pounds in 1915 £995.45 pounds in 1919
£1,000 pounds in 1915 £1,990.91 pounds in 1919
£5,000 pounds in 1915 £9,954.55 pounds in 1919
£10,000 pounds in 1915 £19,909.09 pounds in 1919
£50,000 pounds in 1915 £99,545.45 pounds in 1919
£100,000 pounds in 1915 £199,090.91 pounds in 1919
£500,000 pounds in 1915 £995,454.55 pounds in 1919
£1,000,000 pounds in 1915 £1,990,909.09 pounds in 1919

How to Calculate Inflation Rate for £1, 1915 to 1919

Our calculations use the following inflation rate formula to calculate the change in value between 1915 and 1919:

CPI in 1919 CPI in 1915
×
1915 GBP value
=
1919 GBP value

Then plug in historical CPI values. The U.K. CPI was 11 in the year 1915 and 21.9 in 1919:

21.911
×
£1
=
£1.99

£1 in 1915 has the same "purchasing power" or "buying power" as £1.99 in 1919.

To get the total inflation rate for the 4 years between 1915 and 1919, we use the following formula:

CPI in 1919 - CPI in 1915CPI in 1915
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

21.9 - 1111
×
100
=
99%

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 → 1919 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2021, https://www.officialdata.org/uk/inflation/1915?amount=1&endYear=1919.

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 1919
Cumulative price change 99.09%
Average inflation rate 18.79%
Converted amount (£1 base) £1.99
Price difference (£1 base) £0.99
CPI in 1915 11.000
CPI in 1919 21.900
Inflation in 1915 12.24%
Inflation in 1919 10.05%
£1 in 1915 £1.99 in 1919