Inflation in 1928 and its effect on pound value
£1 in 1927 is equivalent in purchasing power to about £1 in 1928. The pound had an average inflation rate of 0.00% per year between 1927 and 1928, producing a cumulative price increase of 0.00%. Purchasing power decreased by 0.00% in 1928 compared to 1927. On average, you would have to spend 0.00% more money in 1928 than in 1927 for the same item.
The inflation rate in 1927 was -2.70%. The inflation rate in 1928 was 0.00%. The 1928 inflation rate is lower compared to the average inflation rate of 4.65% per year between 1928 and 2024.
Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1928 was 18.00. It was 18.00 in the previous year, 1927. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.
⌃
| Average inflation rate | 0.00% |
| Converted amount £1 base | £1 |
| Price difference £1 base | £0.00 |
| CPI in 1927 | 18.000 |
| CPI in 1928 | 18.000 |
| Inflation in 1927 | -2.70% |
| Inflation in 1928 | 0.00% |
| £1 in 1927 | £1 in 1928 |
How to calculate inflation rate for £1, 1927 to 1928
Our calculations use the following inflation rate formula to calculate the change in value between 1927 and 1928:
CPI in 1928 CPI in 1927
×
1927 GBP value
=
1928 GBP value
Then plug in historical CPI values. The U.K. CPI was 18 in the year 1927 and 18 in 1928:
1818
×
£1
=
£1
£1 in 1927 has the same "purchasing power" or "buying power" as £1 in 1928.
To get the total inflation rate for the 1 years between 1927 and 1928, we use the following formula:
CPI in 1928 - CPI in 1927CPI in 1927
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
18 - 1818
×
100
=
0%
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: “Inflation Rate in 1928 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 Oct. 2024, https://www.officialdata.org/UK-inflation-rate-in-1928.
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.
| Average inflation rate | 0.00% |
| Converted amount £1 base | £1 |
| Price difference £1 base | £0.00 |
| CPI in 1927 | 18.000 |
| CPI in 1928 | 18.000 |
| Inflation in 1927 | -2.70% |
| Inflation in 1928 | 0.00% |
| £1 in 1927 | £1 in 1928 |