# £1 in 1954 is worth £0.96 in 1954

£

## Value of £1 from 1955 to 1954

According to the Office for National Statistics composite price index, prices in 1954 are 4.18% lower than average prices since 1955. The British pound experienced an average inflation rate of 4.36% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1955 is equivalent in purchasing power to about £0.96 in 1954.

The 1954 inflation rate was 1.98%. The inflation rate in 1955 was 4.36%. The 1955 inflation rate is lower compared to the average inflation rate of 5.17% per year between 1955 and 2020.

 Average inflation rate 4.36% Converted amount (£1 base) £0.96 Price difference (£1 base) £-0.04 CPI in 1955 43.100 CPI in 1954 41.300 Inflation in 1954 1.98% Inflation in 1955 4.36%

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

## How to Calculate Inflation Rate for £1, 1954 to 1955

Our calculations use the following inflation rate formula to calculate the change in value between 1954 and 1955:

CPI in 1954 CPI in 1955
×
1955 GBP value
=
1954 GBP value

Then plug in historical CPI values. The U.K. CPI was 43.1 in the year 1955 and 41.3 in 1954:

41.343.1
×
£1
=
£0.96

£1 in 1955 has the same "purchasing power" or "buying power" as £0.96 in 1954.

To get the total inflation rate for the 1 years between 1954 and 1955, we use the following formula:

CPI in 1954 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

41.3 - 43.143.1
×
100
=
-4%

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

• The occupying powers grant full Sovereignty to West Germany.
• The Mainau Declaration against nuclear weapons is signed by 18 Nobel laureates.
• Rosa Parks is arrested in Montgomery, Alabama for refusing to give her seat to a white person and move to the back of the bus.

## 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 1955 → 1954 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Jun. 2020, https://www.officialdata.org/uk/inflation/1955?amount=1&endYear=1954.