# UK inflation rate in 1956: 5.10%

## UK Inflation Calculator

£

### Inflation since 1956 and its effect on pound value

The composite price index (CPI) in 1956 was 45.3. It was 43.1 in the previous year. This change in CPI is used by the Office for National Statistics to calculate inflation.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 5.28% per year. Prices in 2018 are 2324.4% higher than prices in 1956.

In other words, £100 in 1956 is equivalent in purchasing power to £2,424.44 in 2018, a difference of £2,324.44 over 62 years.

The current inflation rate is now 2.20%1. If this number holds, £100 today will be equivalent to £102.20 next year.

 Cumulative price change 2324.44% Average inflation rate 5.28% Converted amount (£100 base) £2,424.44 Price difference (£100 base) £2,324.44 CPI in 1956 45.3 CPI in 2018 1098.27186

### How to calculate the inflation rate for £100 since 1956

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1956 * 1956 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 45.3 in the year 1956 and 1098.27186 in 2018:

1098.27186 / 45.3 * £100 = £2,424.44

£100 in 1956 has the same "purchasing power" or "buying power" as £2,424.44 in 2018.

### Buying power of £100 since 1956

Below are calculations of buying power over time for £100 in 1956 (price index tracking began in 1750). Each of these GBP amounts below is equivalent in terms of what it could buy at the time:

Year GBP Value Inflation Rate
1956 £100.00 5.10%
1957 £103.53 3.53%
1958 £106.84 3.20%
1959 £107.28 0.41%
1960 £108.39 1.03%
1961 £112.14 3.46%
1962 £117.00 4.33%
1963 £119.21 1.89%
1964 £123.18 3.33%
1965 £128.92 4.66%
1966 £134.00 3.94%
1967 £137.53 2.64%
1968 £143.93 4.65%
1969 £151.66 5.37%
1970 £161.37 6.40%
1971 £176.60 9.44%
1972 £189.18 7.13%
1973 £206.40 9.10%
1974 £239.51 16.04%
1975 £297.57 24.24%
1976 £346.80 16.54%
1977 £401.77 15.85%
1978 £435.10 8.30%
1979 £493.38 13.39%
1980 £582.12 17.99%
1981 £651.21 11.87%
1982 £707.28 8.61%
1983 £739.74 4.59%
1984 £776.60 4.98%
1985 £823.84 6.08%
1986 £851.88 3.40%
1987 £887.42 4.17%
1988 £930.91 4.90%
1989 £1,003.31 7.78%
1990 £1,098.23 9.46%
1991 £1,162.69 5.87%
1992 £1,206.18 3.74%
1993 £1,225.39 1.59%
1994 £1,254.97 2.41%
1995 £1,298.45 3.47%
1996 £1,329.80 2.41%
1997 £1,371.52 3.14%
1998 £1,418.54 3.43%
1999 £1,440.40 1.54%
2000 £1,483.00 2.96%
2001 £1,509.27 1.77%
2002 £1,534.44 1.67%
2003 £1,578.81 2.89%
2004 £1,625.83 2.98%
2005 £1,671.74 2.82%
2006 £1,725.17 3.20%
2007 £1,799.12 4.29%
2008 £1,870.86 3.99%
2009 £1,860.93 -0.53%
2010 £1,946.80 4.61%
2011 £2,048.12 5.20%
2012 £2,113.91 3.21%
2013 £2,178.15 3.04%
2014 £2,229.58 2.36%
2015 £2,251.66 0.99%
2016 £2,289.93 1.70%
2017 £2,372.25 3.59%
2018 £2,424.44 2.20%*
* Not final. See inflation summary for latest details.

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

• Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
• Morocco declares independence from France, tearing up the Treaty of Fez.
• IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
• President Eisenhower orders the desegregation of Little Rock schools.
• Shippingport Atomic Power Station in Pennsylvania becomes the world's first nuclear power station to generate electricity.

### 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: “Inflation Rate in 1956 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/UK-inflation-rate-in-1956.