£1 in 1958 is equivalent in purchasing power to about £1.00 in 1959. The pound had an average inflation rate of 0.41% per year between 1958 and 1959, producing a cumulative price increase of 0.41%. Purchasing power decreased by 0.41% in 1959 compared to 1958. On average, you would have to spend 0.41% more money in 1959 than in 1958 for the same item.

This means that prices in 1959 are 1.00 times higher than average prices since 1958, according to the Office for National Statistics composite price index.

The 1958 inflation rate was 3.20%. The inflation rate in 1959 was 0.41%. The 1959 inflation rate is lower compared to the average inflation rate of 5.25% per year between 1959 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1959 was 48.60. It was 48.40 in the previous year, 1958. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 0.41% |

Converted amount (£1 base) | £1.00 |

Price difference (£1 base) | £0.00 |

CPI in 1958 | 48.400 |

CPI in 1959 | 48.600 |

Inflation in 1958 | 3.20% |

Inflation in 1959 | 0.41% |

£1 in 1958 | £1.00 in 1959 |

Our calculations use the following inflation rate formula to calculate the change in value between 1958 and 1959:

CPI in 1959
CPI in 1958

×

1958 GBP value

=

1959 GBP value

Then plug in historical CPI values. The U.K. CPI was 48.4 in the year 1958 and 48.6 in 1959:

48.648.4

×

£1

=

£1 in 1958 has the same "purchasing power" or "buying power" as £1.00 in 1959.

To get the total inflation rate for the 1 years between 1958 and 1959, we use the following formula:

CPI in 1959 - CPI in 1958CPI in 1958

×

100

=

Plugging in the values to this equation, we get:

48.6 - 48.448.4

×

100

=

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

- The European Economic Community is founded.
- Nikita Khrushchev is named First Secretary of the Communist Party and Soviet Premier.
- The "Great leap forward" movement in China is started by Mao Zedong.
- Fulgencio Batista, the Cuban dictator, announces to his Cabinet that he is fleeing the country.

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 1959 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 22 Oct. 2021, https://www.officialdata.org/UK-inflation-rate-in-1959.

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 | 0.41% |

Converted amount (£1 base) | £1.00 |

Price difference (£1 base) | £0.00 |

CPI in 1958 | 48.400 |

CPI in 1959 | 48.600 |

Inflation in 1958 | 3.20% |

Inflation in 1959 | 0.41% |

£1 in 1958 | £1.00 in 1959 |