Value of £1 from 1920 to 1922
£1 in 1920 is equivalent in purchasing power to about £0.79 in 1922, a difference of £-0.21 over 2 years. The pound had an average deflation rate of -11.31% per year since 1920, producing a cumulative price change of -21.34%.
This means that prices in 1922 are 21.34% lower than average prices since 1920, according to the Office for National Statistics composite price index.
The inflation rate in 1920 was 15.53%. The inflation rate in 1922 was -13.85%. The 1922 inflation rate is lower compared to the average inflation rate of 4.25% per year between 1922 and 2025.
⌃
| Cumulative price change | -21.34% |
| Average inflation rate | -11.31% |
| Converted amount £1 base | £0.79 |
| Price difference £1 base | £-0.21 |
| CPI in 1920 | 25.300 |
| CPI in 1922 | 19.900 |
| Inflation in 1920 | 15.53% |
| Inflation in 1922 | -13.85% |
| £1 in 1920 | £0.79 in 1922 |
Buying power of £1 in 1920
This chart shows a calculation of buying power equivalence for £1 in 1920 (price index tracking began in 1750).
For example, if you started with £1, you would need to end with £0.79 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
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:
This conversion table shows various other 1920 amounts in 1922 pounds, based on the -21.34% change in prices:
| Initial value | Equivalent value |
|---|---|
| £1 pound in 1920 | £0.79 pounds in 1922 |
| £5 pounds in 1920 | £3.93 pounds in 1922 |
| £10 pounds in 1920 | £7.87 pounds in 1922 |
| £50 pounds in 1920 | £39.33 pounds in 1922 |
| £100 pounds in 1920 | £78.66 pounds in 1922 |
| £500 pounds in 1920 | £393.28 pounds in 1922 |
| £1,000 pounds in 1920 | £786.56 pounds in 1922 |
| £5,000 pounds in 1920 | £3,932.81 pounds in 1922 |
| £10,000 pounds in 1920 | £7,865.61 pounds in 1922 |
| £50,000 pounds in 1920 | £39,328.06 pounds in 1922 |
| £100,000 pounds in 1920 | £78,656.13 pounds in 1922 |
| £500,000 pounds in 1920 | £393,280.63 pounds in 1922 |
| £1,000,000 pounds in 1920 | £786,561.26 pounds in 1922 |
How to calculate inflation rate for £1, 1920 to 1922
Our calculations use the following inflation rate formula to calculate the change in value between 1920 and 1922:
CPI in 1922 CPI in 1920
×
1920 GBP value
=
1922 GBP value
Then plug in historical CPI values. The U.K. CPI was 25.3 in the year 1920 and 19.9 in 1922:
19.925.3
×
£1
=
£0.79
£1 in 1920 has the same "purchasing power" or "buying power" as £0.79 in 1922.
To get the total inflation rate for the 2 years between 1920 and 1922, we use the following formula:
CPI in 1922 - CPI in 1920CPI in 1920
×
100
=
Cumulative inflation rate (2 years)
Plugging in the values to this equation, we get:
19.9 - 25.325.3
×
100
=
-21%
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 the current year, which is based on The Bank of England's forecast.
You may use the following MLA citation for this page: “£1 in 1920 → 1922 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Apr. 2025, https://www.officialdata.org/uk/inflation/1920?amount=1&endYear=1922.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | -21.34% |
| Average inflation rate | -11.31% |
| Converted amount £1 base | £0.79 |
| Price difference £1 base | £-0.21 |
| CPI in 1920 | 25.300 |
| CPI in 1922 | 19.900 |
| Inflation in 1920 | 15.53% |
| Inflation in 1922 | -13.85% |
| £1 in 1920 | £0.79 in 1922 |
