£1 in 1960 is worth £0.99 in 1959

Value of £1 from 1960 to 1959

£1 in 1960 is equivalent in purchasing power to about £0.99 in 1959. The pound had an average inflation rate of 1.03% per year between 1959 and 1960, producing a cumulative price increase of -1.02%.

This means that prices in 1959 are 1.02% lower than average prices since 1960, according to the Office for National Statistics composite price index.

The 1959 inflation rate was 0.41%. The inflation rate in 1960 was 1.03%. The 1960 inflation rate is lower compared to the average inflation rate of 5.36% per year between 1960 and 2021.


Inflation from 1960 to 1959
Average inflation rate 1.03%
Converted amount (£1 base) £0.99
Price difference (£1 base) £-0.01
CPI in 1960 49.100
CPI in 1959 48.600
Inflation in 1959 0.41%
Inflation in 1960 1.03%
£1 in 1960 £0.99 in 1959

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI
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How to Calculate Inflation Rate for £1, 1959 to 1960

Our calculations use the following inflation rate formula to calculate the change in value between 1959 and 1960:

CPI in 1959 CPI in 1960
×
1960 GBP value
=
1959 GBP value

Then plug in historical CPI values. The U.K. CPI was 49.1 in the year 1960 and 48.6 in 1959:

48.649.1
×
£1
=
£0.99

£1 in 1960 has the same "purchasing power" or "buying power" as £0.99 in 1959.

To get the total inflation rate for the 1 years between 1959 and 1960, we use the following formula:

CPI in 1959 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

48.6 - 49.149.1
×
100
=
-1%

News headlines from 1959

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

  • Johnny Cash plays his first concert in a prison.
  • The Bank of France issues new franc currency, worth 100 times the value of old francs.
  • France grants independence to Cameroon (previously French Cameroon) after years of fighting.
  • Guided missiles are launched for the first time from a nuclear powered submarine

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 1960 → 1959 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Dec. 2021, https://www.officialdata.org/uk/inflation/1960?amount=1&endYear=1959.

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 1960 to 1959
Average inflation rate 1.03%
Converted amount (£1 base) £0.99
Price difference (£1 base) £-0.01
CPI in 1960 49.100
CPI in 1959 48.600
Inflation in 1959 0.41%
Inflation in 1960 1.03%
£1 in 1960 £0.99 in 1959