# £1 in 1915 is worth £2.10 in 1921

£

## Value of £1 from 1915 to 1921

£1 in 1915 is equivalent in purchasing power to about £2.10 in 1921, an increase of £1.10 over 6 years. The pound had an average inflation rate of 13.16% per year between 1915 and 1921, producing a cumulative price increase of 110.00%.

This means that prices in 1921 are 2.10 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 1921 was -8.70%. The 1921 inflation rate is lower compared to the average inflation rate of 3.99% per year between 1921 and 2021.

 Cumulative price change 110.00% Average inflation rate 13.16% Converted amount (£1 base) £2.10 Price difference (£1 base) £1.10 CPI in 1915 11.000 CPI in 1921 23.100 Inflation in 1915 12.24% Inflation in 1921 -8.70% £1 in 1915 £2.10 in 1921

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

## 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 £2.10 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £2.10 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 1915 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: 1915-1921
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 1921 pounds, based on the 110.00% change in prices:

Conversion: 1915 pounds in 1921
Initial value Equivalent value
£1 pound in 1915 £2.10 pounds in 1921
£5 pounds in 1915 £10.50 pounds in 1921
£10 pounds in 1915 £21.00 pounds in 1921
£50 pounds in 1915 £105.00 pounds in 1921
£100 pounds in 1915 £210.00 pounds in 1921
£500 pounds in 1915 £1,050.00 pounds in 1921
£1,000 pounds in 1915 £2,100.00 pounds in 1921
£5,000 pounds in 1915 £10,500.00 pounds in 1921
£10,000 pounds in 1915 £21,000.00 pounds in 1921
£50,000 pounds in 1915 £105,000.00 pounds in 1921
£100,000 pounds in 1915 £210,000.00 pounds in 1921
£500,000 pounds in 1915 £1,050,000.00 pounds in 1921
£1,000,000 pounds in 1915 £2,100,000.00 pounds in 1921

## How to Calculate Inflation Rate for £1, 1915 to 1921

Our calculations use the following inflation rate formula to calculate the change in value between 1915 and 1921:

CPI in 1921 CPI in 1915
×
1915 GBP value
=
1921 GBP value

Then plug in historical CPI values. The U.K. CPI was 11 in the year 1915 and 23.1 in 1921:

23.111
×
£1
=
£2.10

£1 in 1915 has the same "purchasing power" or "buying power" as £2.10 in 1921.

To get the total inflation rate for the 6 years between 1915 and 1921, we use the following formula:

CPI in 1921 - CPI in 1915CPI in 1915
×
100
=
Cumulative inflation rate (6 years)

Plugging in the values to this equation, we get:

23.1 - 1111
×
100
=
110%

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 → 1921 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Jun. 2021, https://www.officialdata.org/uk/inflation/1915?amount=1&endYear=1921.

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.