# £4,949 in 1947 is worth £198,636.58 today

£

## Value of £4,949 from 1947 to 2021

£4,949 in 1947 is equivalent in purchasing power to about £198,636.58 today, an increase of £193,687.58 over 74 years. The pound had an average inflation rate of 5.12% per year between 1947 and today, producing a cumulative price increase of 3,913.67%.

This means that today's prices are 40.14 times higher than average prices since 1947, according to the Office for National Statistics composite price index. A pound today only buys 2.49% of what it could buy back then.

The 1947 inflation rate was 7.04%. The current year-over-year inflation rate (2020 to 2021) is now 0.70%1. If this number holds, £4,949 today will be equivalent in buying power to £4,983.64 next year.

 Cumulative price change 3,913.67% Average inflation rate 5.12% Converted amount (£4,949 base) £198,636.58 Price difference (£4,949 base) £193,687.58 CPI in 1947 28.900 CPI in 2021 1,159.951 Inflation in 1947 7.04% Inflation in 2021 0.70% £4,949 in 1947 £198,636.58 in 2021

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

## Buying power of £4,949 in 1947

This chart shows a calculation of buying power equivalence for £4,949 in 1947 (price index tracking began in 1750).

For example, if you started with £4,949, you would need to end with £198,636.58 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £4,949 is equivalent to £198,636.58 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 1947 dollars, the chart below shows how £4,949 is worth less over 74 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: 1947-2021
Year Pound Value Inflation Rate
1947 £4,949.00 7.04%
1948 £5,325.74 7.61%
1949 £5,479.86 2.89%
1950 £5,651.11 3.13%
1951 £6,164.84 9.09%
1952 £6,729.96 9.17%
1953 £6,935.45 3.05%
1954 £7,072.45 1.98%
1955 £7,380.69 4.36%
1956 £7,757.43 5.10%
1957 £8,031.42 3.53%
1958 £8,288.29 3.20%
1959 £8,322.54 0.41%
1960 £8,408.16 1.03%
1961 £8,699.28 3.46%
1962 £9,076.02 4.33%
1963 £9,247.27 1.89%
1964 £9,555.51 3.33%
1965 £10,000.75 4.66%
1966 £10,394.61 3.94%
1967 £10,668.61 2.64%
1968 £11,165.22 4.65%
1969 £11,764.58 5.37%
1970 £12,518.06 6.40%
1971 £13,699.65 9.44%
1972 £14,675.75 7.13%
1973 £16,011.47 9.10%
1974 £18,580.16 16.04%
1975 £23,083.92 24.24%
1976 £26,902.70 16.54%
1977 £31,166.71 15.85%
1978 £33,752.52 8.30%
1979 £38,273.41 13.39%
1980 £45,157.48 17.99%
1981 £50,517.47 11.87%
1982 £54,867.11 8.61%
1983 £57,384.43 4.59%
1984 £60,244.23 4.98%
1985 £63,908.89 6.08%
1986 £66,083.71 3.40%
1987 £68,840.76 4.17%
1988 £72,214.30 4.90%
1989 £77,831.16 7.78%
1990 £85,194.72 9.46%
1991 £90,195.10 5.87%
1992 £93,568.64 3.74%
1993 £95,058.47 1.59%
1994 £97,353.17 2.41%
1995 £100,726.71 3.47%
1996 £103,158.39 2.41%
1997 £106,394.94 3.14%
1998 £110,042.47 3.43%
1999 £111,737.80 1.54%
2000 £115,042.84 2.96%
2001 £117,080.67 1.77%
2002 £119,032.87 1.67%
2003 £122,474.91 2.89%
2004 £126,122.44 2.98%
2005 £129,684.35 2.82%
2006 £133,828.49 3.20%
2007 £139,565.22 4.29%
2008 £145,130.71 3.99%
2009 £144,360.10 -0.53%
2010 £151,021.56 4.61%
2011 £158,881.74 5.20%
2012 £163,984.86 3.21%
2013 £168,968.11 3.04%
2014 £172,958.13 2.36%
2015 £174,670.59 0.99%
2016 £177,701.64 1.74%
2017 £184,071.98 3.58%
2018 £189,041.92 2.70%
2019 £193,767.97 2.50%
2020 £197,255.79 1.80%
2021 £198,636.58 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 68 more rows

This conversion table shows various other 1947 amounts in today's pounds, based on the 3,913.67% change in prices:

Conversion: 1947 pounds today
Initial value Equivalent value
£1 pound in 1947 £40.14 pounds today
£5 pounds in 1947 £200.68 pounds today
£10 pounds in 1947 £401.37 pounds today
£50 pounds in 1947 £2,006.84 pounds today
£100 pounds in 1947 £4,013.67 pounds today
£500 pounds in 1947 £20,068.36 pounds today
£1,000 pounds in 1947 £40,136.71 pounds today
£5,000 pounds in 1947 £200,683.55 pounds today
£10,000 pounds in 1947 £401,367.11 pounds today
£50,000 pounds in 1947 £2,006,835.53 pounds today
£100,000 pounds in 1947 £4,013,671.07 pounds today
£500,000 pounds in 1947 £20,068,355.33 pounds today
£1,000,000 pounds in 1947 £40,136,710.66 pounds today

## How to Calculate Inflation Rate for £4,949 since 1947

Our calculations use the following inflation rate formula to calculate the change in value between 1947 and today:

CPI today CPI in 1947
×
1947 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 28.9 in the year 1947 and 1159.950938 in 2021:

1159.95093828.9
×
£4,949
=
£198,636.58

£4,949 in 1947 has the same "purchasing power" or "buying power" as £198,636.58 in 2021.

To get the total inflation rate for the 74 years between 1947 and 2021, we use the following formula:

CPI in 2021 - CPI in 1947CPI in 1947
×
100
=
Cumulative inflation rate (74 years)

Plugging in the values to this equation, we get:

1159.950938 - 28.928.9
×
100
=
3,914%

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

• Civil disorder in Taiwan is put down resulting in the loss of 30,000 civilian lives.
• The new Japanese constitution comes into effect.
• The alleged Roswell UFO incident happens.

## 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: “£4,949 in 1947 → 2021 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Aug. 2021, https://www.officialdata.org/uk/inflation/1947?amount=4949.

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.