How much was one pound worth in 1920?
Since 1920 the total inflation has been 4,401.62% (as of 2013), that's an enormous amount!
Needless to say what is £1 now would have been worth very very...very little back then... but how much exactly?
2000
Well going back just 14 years to 2000 a pound then would have been worth around £1.50 now! A huge difference in our life times when you think about it on a grander scale!
1980
In 1980 which many of our parents will remember as the good old days, one pound then would be worth £4.44 in modern times!
1960
Back again 20 years to 1960 and we'll see a pound then is around £20.31 of today's money! You'd be rich to drop a pound in a buskers hat!
Here's an image showing the prices of things in the 1960's compared to now!
1940
Back to 1940 and their pound would be worth around £56.94 today!
1920
But strangely enough in 1920, 1 pound would been equivalent to around 45 pounds of today's money! - why less? After a bout of inflation following the end of world war one, deflation began to occur, lots of it, and when it wasn't deflating inflation was non existent or very low all the way up to 1939 when the second world war started and inflation kick started again!
If you'd like to work out the difference in the value of money from any given year to another this site is very useful:
http://www.thisismoney.co.uk/money/bills/article-1633409/Historic-inflation-calculator-value-money-changed-1900.html
It can also work out total inflation from any given year to another, as well as showing you the rate of inflation at any given year. (from 1901 onward)
To learn more about the history of inflation effecting not only the UK but Europe also check out this video!
