The composite price index (CPI) in 1917 was 16.3. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.
According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 4.26% per year. Prices in 2018 are 6627.6% higher than prices in 1917.
In other words, £100 in the year 1917 is equivalent in purchasing power to £6,727.56 in 2018, a difference of £6,627.56 over 101 years.
Compared to last year's annual rate, the inflation rate in 2018 is now 3.10%1. If this number holds, £100 today would be equivalent to £103.10 next year.
|Cumulative price change||6627.56%|
|Average inflation rate||4.26%|
|Price difference (£100 base)||£6,627.56|
|CPI in 1917||16.3|
|CPI in 2018||1096.59148|
Politics and news often influence economic performance. Here's what was happening at the time:
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: “Inflation Rate in 1917 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 25 May. 2018, https://www.officialdata.org/UK-inflation-rate-in-1917.