You are watching: How much was 1 pound worth in 1920
Given inflation, 1 pound in 1918 is around 57.2 pounds in 2020, https://www.in2013dollars.com/uk/inflation/1918?amount=1
But it feels 1 pound could have actually bought you much a lot more than 57.2 pounds today, a straightforward instance will certainly be, a perkid can never survive with 57.2 pounds in London for a month in 2020.
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edited Mar 23 "20 at 15:46
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The finest means to show just how a lot it was worth, would certainly be mirroring the expense of points.
Tbelow are quite a few websites that show you approximate costs, i.e. "the cost of living" would tell you that you might gain an average house in London for 300 pounds.
If you want to look into smaller sized items, examine right here or here:Bcheck out would expense 12.5 pence (d) = 1 shilling and 2 farpoints. So for one pound, you could buy about 20 loaves of breview (unless my math is off)1 ton of coal was 1 pound 35 penceSugar was about 0.07 pound per kgMilk was around 0.07 pound per pintA weekly grocery was about 0.51 pound
So for instance, the 200 pounds in the original short article would be sufficient for a 2/3 of a residence in London, even if by the unstable inflation calculation it is bacount 11,440 existing pounds. Just to compare, the average price in London in the cheapest suburb was in 2019 around 290,000 pounds (over 690,000 if you look at the totality city, consisting of super expensive areas). On the various other hand, currently, breview in UK costs by average approximately 1 contemporary pound, so if we stick to the 57.2:1 convariation rate, you can buy nearly 3 times as much bread for the very same worth.
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BTW, let me quote Terry Prattchet right here, explaining the nuances of the old currency system:
Two farpoints = One Ha"penny. Two ha"pennies = One Penny. Three pennies = A Thrupenny Bit. Two Thrupences = A Sixpence. Two Sixpences = One Shilling, or Bob. Two Bob = A Florin. One Florin and also one Sixpence = Half a Crvery own. Four Half Crowns = Ten Bob Note. Two Ten Bob Notes = One Pound (or 240 pennies). One Pound and One Shilling = One Guinea.
The British withstood decimalized money for a long time bereason they assumed it was too facility."