£1 in 1920 is worth £0.87 in 1919

Value of £1 from 1920 to 1919

£1 in 1920 is equivalent in purchasing power to about £0.87 in 1919. The pound had an average inflation rate of 15.53% per year between 1919 and 1920, producing a cumulative price increase of -13.44%.

This means that prices in 1919 are 13.44% lower than average prices since 1920, according to the Office for National Statistics composite price index.

The 1919 inflation rate was 10.05%. The inflation rate in 1920 was 15.53%. The 1920 inflation rate is higher compared to the average inflation rate of 3.86% per year between 1920 and 2021.


Inflation from 1920 to 1919
Average inflation rate 15.53%
Converted amount (£1 base) £0.87
Price difference (£1 base) £-0.13
CPI in 1920 25.300
CPI in 1919 21.900
Inflation in 1919 10.05%
Inflation in 1920 15.53%
£1 in 1920 £0.87 in 1919

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI
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How to Calculate Inflation Rate for £1, 1919 to 1920

Our calculations use the following inflation rate formula to calculate the change in value between 1919 and 1920:

CPI in 1919 CPI in 1920
×
1920 GBP value
=
1919 GBP value

Then plug in historical CPI values. The U.K. CPI was 25.3 in the year 1920 and 21.9 in 1919:

21.925.3
×
£1
=
£0.87

£1 in 1920 has the same "purchasing power" or "buying power" as £0.87 in 1919.

To get the total inflation rate for the 1 years between 1919 and 1920, we use the following formula:

CPI in 1919 - CPI in 1920CPI in 1920
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

21.9 - 25.325.3
×
100
=
-13%

News headlines from 1919

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

  • The League of Nations' first assembly takes place in Paris.
  • The British Parliament passes the Fourth Home Rule Act, dividing Ireland into two parts and leading to a yearlong Anglo-Irish war in the southern counties.
  • The Catholic Church canonizes Joan of Arc, formally making her a saint.
  • The 19th Amendment to the constitution is ratified, granting U.S. woman suffrage for the first time.

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 1920 → 1919 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2021, https://www.officialdata.org/uk/inflation/1920?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 1920 to 1919
Average inflation rate 15.53%
Converted amount (£1 base) £0.87
Price difference (£1 base) £-0.13
CPI in 1920 25.300
CPI in 1919 21.900
Inflation in 1919 10.05%
Inflation in 1920 15.53%
£1 in 1920 £0.87 in 1919