View £640 in 1929 → **2021**

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£640 in 1929 is equivalent in purchasing power to about £39,691.59 in 2018, an increase of £39,051.59 over 89 years. The pound had an average inflation rate of 4.75% per year between 1929 and 2018, producing a cumulative price increase of 6,101.81%.

This means that prices in 2018 are 62.02 times higher than average prices since 1929, according to the Office for National Statistics composite price index.

The 1929 inflation rate was -1.11%. The inflation rate in 2018 was 2.70%. The 2018 inflation rate is higher compared to the average inflation rate of 1.66% per year between 2018 and 2021.

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Cumulative price change | 6,101.81% |

Average inflation rate | 4.75% |

Converted amount (£640 base) | £39,691.59 |

Price difference (£640 base) | £39,051.59 |

CPI in 1929 | 17.800 |

CPI in 2018 | 1,103.922 |

Inflation in 1929 | -1.11% |

Inflation in 2018 | 2.70% |

£640 in 1929 | £39,691.59 in 2018 |

This chart shows a calculation of buying power equivalence for £640 in 1929 (price index tracking began in 1750).

For example, if you started with £640, you would need to end with £39,691.59 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £640 is equivalent to £39,691.59 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 1929 dollars, the chart below shows how £640 is worth less over 89 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:

This conversion table shows various other 1929 amounts in 2018 pounds, based on the 6,101.81% change in prices:

Initial value | Equivalent value |
---|---|

£1 pound in 1929 | £62.02 pounds in 2018 |

£5 pounds in 1929 | £310.09 pounds in 2018 |

£10 pounds in 1929 | £620.18 pounds in 2018 |

£50 pounds in 1929 | £3,100.91 pounds in 2018 |

£100 pounds in 1929 | £6,201.81 pounds in 2018 |

£500 pounds in 1929 | £31,009.05 pounds in 2018 |

£1,000 pounds in 1929 | £62,018.11 pounds in 2018 |

£5,000 pounds in 1929 | £310,090.53 pounds in 2018 |

£10,000 pounds in 1929 | £620,181.07 pounds in 2018 |

£50,000 pounds in 1929 | £3,100,905.34 pounds in 2018 |

£100,000 pounds in 1929 | £6,201,810.67 pounds in 2018 |

£500,000 pounds in 1929 | £31,009,053.37 pounds in 2018 |

£1,000,000 pounds in 1929 | £62,018,106.74 pounds in 2018 |

Our calculations use the following inflation rate formula to calculate the change in value between 1929 and 2018:

CPI in 2018
CPI in 1929

×

1929 GBP value

=

2018 GBP value

Then plug in historical CPI values. The U.K. CPI was 17.8 in the year 1929 and 1103.9223 in 2018:

1103.922317.8

×

£640

=

£640 in 1929 has the same "purchasing power" or "buying power" as £39,691.59 in 2018.

To get the total inflation rate for the 89 years between 1929 and 2018, we use the following formula:

CPI in 2018 - CPI in 1929CPI in 1929

×

100

=

Plugging in the values to this equation, we get:

1103.9223 - 17.817.8

×

100

=

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

- The world's smallest country, the Vatican City, is created as an enclave of Rome.
- Seven gangsters are killed in Chicago on Al Capone's orders in an event now known as St. Valentine's Day Massacre.
- A final solution of a border dispute between Chile and Peru is reached after the signing of the Treaty of Lima.
- Beginning of the Great Depression with stock market crash known as "Black Thursday".
- ‘Black Thursday’, leads to a Wall Street crash and the biggest depression in the history of the world.

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: “£640 in 1929 → 2018 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Oct. 2021, https://www.officialdata.org/1929-GBP-in-2018?amount=640.

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.

Cumulative price change | 6,101.81% |

Average inflation rate | 4.75% |

Converted amount (£640 base) | £39,691.59 |

Price difference (£640 base) | £39,051.59 |

CPI in 1929 | 17.800 |

CPI in 2018 | 1,103.922 |

Inflation in 1929 | -1.11% |

Inflation in 2018 | 2.70% |

£640 in 1929 | £39,691.59 in 2018 |