# £100 in 2019 is worth £101.50 today

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## Why a pound today is worth only 99% of a pound in 2019

Updated: September 11, 2020

According to the Office for National Statistics composite price index, today's prices in 2020 are 1.50% higher than average prices since 2019. This means that a pound today only buys 98.52% of what it could buy in 2019. The British pound experienced an average inflation rate of 1.50% in the last 12 months. This means the real value of a pound has been decreasing recently.

In other words, £100 in 2019 is equivalent in purchasing power to about £101.50 in 2020.

The 2019 inflation rate was 1.80%. The current year-over-year inflation rate (2019 to 2020) is now 1.50%1. If this number holds, £100 today will be equivalent in buying power to £101.50 next year.

 Average inflation rate 1.50% Converted amount (£100 base) £101.50 Price difference (£100 base) £1.50 CPI in 2019 1,121.422 CPI in 2020 1,138.243 Inflation in 2019 1.80% Inflation in 2020 1.50%

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

## How to Calculate Inflation Rate for £100 since 2019

Our calculations use the following inflation rate formula to calculate the change in value between 2019 and today:

CPI today CPI in 2019
×
2019 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 1121.4220303 in the year 2019 and 1138.2433607545 in 2020:

1138.24336075451121.4220303
×
£100
=
£101.50

£100 in 2019 has the same "purchasing power" or "buying power" as £101.50 in 2020.

To get the total inflation rate for the 1 years between 2019 and 2020, we use the following formula:

CPI in 2020 - CPI in 2019CPI in 2019
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

1138.2433607545 - 1121.42203031121.4220303
×
100
=
1%

## 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: “Value of 2019 pounds today | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Oct. 2020, https://www.officialdata.org/uk/inflation/2019?amount=&startYear=&future_pct=.

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.

#### 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.

 Average inflation rate 1.50% Converted amount (£100 base) £101.50 Price difference (£100 base) £1.50 CPI in 2019 1,121.422 CPI in 2020 1,138.243 Inflation in 2019 1.80% Inflation in 2020 1.50%