# £1 in 1955 is worth £26.91 today

£

## Value of £1 from 1955 to 2021

£1 in 1955 is equivalent in purchasing power to about £26.91 today, an increase of £25.91 over 66 years. The pound had an average inflation rate of 5.12% per year between 1955 and today, producing a cumulative price increase of 2,591.30%.

This means that today's prices are 26.91 times higher than average prices since 1955, according to the Office for National Statistics composite price index. A pound today only buys 3.72% of what it could buy back then.

The 1955 inflation rate was 4.36%. The current year-over-year inflation rate (2020 to 2021) is now 0.70%1. If this number holds, £1 today will be equivalent in buying power to £1.01 next year.

 Cumulative price change 2,591.30% Average inflation rate 5.12% Converted amount (£1 base) £26.91 Price difference (£1 base) £25.91 CPI in 1955 43.100 CPI in 2021 1,159.951 Inflation in 1955 4.36% Inflation in 2021 0.70% £1 in 1955 £26.91 in 2021

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

## Buying power of £1 in 1955

This chart shows a calculation of buying power equivalence for £1 in 1955 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £26.91 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £26.91 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 1955 dollars, the chart below shows how £1 is worth less over 66 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: 1955-2021
Year Pound Value Inflation Rate
1955 £1.00 4.36%
1956 £1.05 5.10%
1957 £1.09 3.53%
1958 £1.12 3.20%
1959 £1.13 0.41%
1960 £1.14 1.03%
1961 £1.18 3.46%
1962 £1.23 4.33%
1963 £1.25 1.89%
1964 £1.29 3.33%
1965 £1.35 4.66%
1966 £1.41 3.94%
1967 £1.45 2.64%
1968 £1.51 4.65%
1969 £1.59 5.37%
1970 £1.70 6.40%
1971 £1.86 9.44%
1972 £1.99 7.13%
1973 £2.17 9.10%
1974 £2.52 16.04%
1975 £3.13 24.24%
1976 £3.65 16.54%
1977 £4.22 15.85%
1978 £4.57 8.30%
1979 £5.19 13.39%
1980 £6.12 17.99%
1981 £6.84 11.87%
1982 £7.43 8.61%
1983 £7.77 4.59%
1984 £8.16 4.98%
1985 £8.66 6.08%
1986 £8.95 3.40%
1987 £9.33 4.17%
1988 £9.78 4.90%
1989 £10.55 7.78%
1990 £11.54 9.46%
1991 £12.22 5.87%
1992 £12.68 3.74%
1993 £12.88 1.59%
1994 £13.19 2.41%
1995 £13.65 3.47%
1996 £13.98 2.41%
1997 £14.42 3.14%
1998 £14.91 3.43%
1999 £15.14 1.54%
2000 £15.59 2.96%
2001 £15.86 1.77%
2002 £16.13 1.67%
2003 £16.59 2.89%
2004 £17.09 2.98%
2005 £17.57 2.82%
2006 £18.13 3.20%
2007 £18.91 4.29%
2008 £19.66 3.99%
2009 £19.56 -0.53%
2010 £20.46 4.61%
2011 £21.53 5.20%
2012 £22.22 3.21%
2013 £22.89 3.04%
2014 £23.43 2.36%
2015 £23.67 0.99%
2016 £24.08 1.74%
2017 £24.94 3.58%
2018 £25.61 2.70%
2019 £26.25 2.50%
2020 £26.73 1.80%
2021 £26.91 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 60 more rows

This conversion table shows various other 1955 amounts in today's pounds, based on the 2,591.30% change in prices:

Conversion: 1955 pounds today
Initial value Equivalent value
£1 pound in 1955 £26.91 pounds today
£5 pounds in 1955 £134.57 pounds today
£10 pounds in 1955 £269.13 pounds today
£50 pounds in 1955 £1,345.65 pounds today
£100 pounds in 1955 £2,691.30 pounds today
£500 pounds in 1955 £13,456.51 pounds today
£1,000 pounds in 1955 £26,913.01 pounds today
£5,000 pounds in 1955 £134,565.07 pounds today
£10,000 pounds in 1955 £269,130.15 pounds today
£50,000 pounds in 1955 £1,345,650.74 pounds today
£100,000 pounds in 1955 £2,691,301.48 pounds today
£500,000 pounds in 1955 £13,456,507.40 pounds today
£1,000,000 pounds in 1955 £26,913,014.80 pounds today

## How to Calculate Inflation Rate for £1 since 1955

Our calculations use the following inflation rate formula to calculate the change in value between 1955 and today:

CPI today CPI in 1955
×
1955 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 43.1 in the year 1955 and 1159.950938 in 2021:

1159.95093843.1
×
£1
=
£26.91

£1 in 1955 has the same "purchasing power" or "buying power" as £26.91 in 2021.

To get the total inflation rate for the 66 years between 1955 and 2021, we use the following formula:

CPI in 2021 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (66 years)

Plugging in the values to this equation, we get:

1159.950938 - 43.143.1
×
100
=
2,591%

## News headlines from 1955

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

• The occupying powers grant full Sovereignty to West Germany.
• The Mainau Declaration against nuclear weapons is signed by 18 Nobel laureates.
• Rosa Parks is arrested in Montgomery, Alabama for refusing to give her seat to a white person and move to the back of the bus.

## 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 1955 → 2021 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Sep. 2021, https://www.officialdata.org/uk/inflation/1955?amount=1&endYear=2021.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

#### 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.

 Cumulative price change 2,591.30% Average inflation rate 5.12% Converted amount (£1 base) £26.91 Price difference (£1 base) £25.91 CPI in 1955 43.100 CPI in 2021 1,159.951 Inflation in 1955 4.36% Inflation in 2021 0.70% £1 in 1955 £26.91 in 2021