# £1 in 2011 is worth £1.28 today

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## Value of £1 from 2011 to 2021

£1 in 2011 is equivalent in purchasing power to about £1.28 today, an increase of £0.28 over 10 years. The pound had an average inflation rate of 2.50% per year between 2011 and today, producing a cumulative price increase of 28.00%.

This means that today's prices are 1.28 times higher than average prices since 2011, according to the Office for National Statistics composite price index. A pound today only buys 78.13% of what it could buy back then.

The 2011 inflation rate was 5.20%. The current year-over-year inflation rate (2020 to 2021) is now 3.10%1. If this number holds, £1 today will be equivalent in buying power to £1.03 next year.

 Cumulative price change 28.00% Average inflation rate 2.50% Converted amount (£1 base) £1.28 Price difference (£1 base) £0.28 CPI in 2011 927.800 CPI in 2021 1,187.596 Inflation in 2011 5.20% Inflation in 2021 3.10% £1 in 2011 £1.28 in 2021

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

## Buying power of £1 in 2011

This chart shows a calculation of buying power equivalence for £1 in 2011 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.28 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.28 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 2011 dollars, the chart below shows how £1 is worth less over 10 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: 2011-2021
Year Pound Value Inflation Rate
2011 £1.00 5.20%
2012 £1.03 3.21%
2013 £1.06 3.04%
2014 £1.09 2.36%
2015 £1.10 0.99%
2016 £1.12 1.74%
2017 £1.16 3.58%
2018 £1.19 2.70%
2019 £1.22 2.50%
2020 £1.24 1.80%
2021 £1.28 3.10%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 4 more rows

This conversion table shows various other 2011 amounts in today's pounds, based on the 28.00% change in prices:

Conversion: 2011 pounds today
Initial value Equivalent value
£1 pound in 2011 £1.28 pounds today
£5 pounds in 2011 £6.40 pounds today
£10 pounds in 2011 £12.80 pounds today
£50 pounds in 2011 £64.00 pounds today
£100 pounds in 2011 £128.00 pounds today
£500 pounds in 2011 £640.01 pounds today
£1,000 pounds in 2011 £1,280.01 pounds today
£5,000 pounds in 2011 £6,400.07 pounds today
£10,000 pounds in 2011 £12,800.13 pounds today
£50,000 pounds in 2011 £64,000.66 pounds today
£100,000 pounds in 2011 £128,001.32 pounds today
£500,000 pounds in 2011 £640,006.60 pounds today
£1,000,000 pounds in 2011 £1,280,013.19 pounds today

## How to Calculate Inflation Rate for £1 since 2011

Our calculations use the following inflation rate formula to calculate the change in value between 2011 and today:

CPI today CPI in 2011
×
2011 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 927.8 in the year 2011 and 1187.59624 in 2021:

1187.59624927.8
×
£1
=
£1.28

£1 in 2011 has the same "purchasing power" or "buying power" as £1.28 in 2021.

To get the total inflation rate for the 10 years between 2011 and 2021, we use the following formula:

CPI in 2021 - CPI in 2011CPI in 2011
×
100
=
Cumulative inflation rate (10 years)

Plugging in the values to this equation, we get:

1187.59624 - 927.8927.8
×
100
=
28%

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

• Ben Ali, the president of Tunisia, flees to Saudi Arabia after protests known as the Jasmine Revolution.
• Fidel Castro resigns from the central committee of Cuban Communist Party after 45 years.
• Osama bin Laden is killed by US Special Forces in Abbottabad, Pakistan.
• Norway, is struck by twin terror attacks: a bomb blast targeting government buildings in Oslo, and a massacre at a youth camp on Utøya island

## 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 2011 → 2021 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Dec. 2021, https://www.officialdata.org/uk/inflation/2011?amount=1.

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.