The Impact of Inflation on value of £100 from 1924 to 2024
In 1913 the price of £100 is approximately equal to £6613.00 in 2024. Prices changed by 4.30% (or £65.13) per year on average during that period. It means that every purchase will cost you 66.13 times as much.
Inflation is a powerful force that can erode the purchasing power of money over time. For anyone curious about the value of £100 in 1924 and what it would be worth in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.
How Much is £100 in 1924 Worth Today?
- Converted Amount: The £100 from 1924, adjusted for inflation, would be equivalent to £6613.00 in 2024.
- Cumulative Price Change: Over this period, the cumulative price change has been 6513.00%.
- Average Inflation Rate: The average annual inflation rate between 1924 and 2024 has been 4.30%.
| Cumulative price change | 6513.00% |
| Average inflation rate | 4.30% |
| Converted amount | 6613.00 |
| Price difference | 6513.00 |
| CPI in 1924 | 2 |
| CPI in 2024 | 132.26 |
| Inflation in 1924 | -5.66% |
| Inflation in 2024 | 1.35% |
| 100 in 1924 | 6613.00 in 2024 |
Key Financial Indicators:
Consumer Price Index (CPI) Comparison
- CPI in 1924: 2
- CPI in 2024: 132.26
Inflation Rate at 1924 and 2024
- Inflation in 1924: -5.66%
- Inflation in 2024: 1.35%
Price Difference
- The price difference between 1924 and 2024 is £6513.00.
1924 to 2024 Inflation Calculator
To understand the transformation of £100 from 1924 into 2024 British Pounds, consider the following table:
| Year | CPI | Inflation rate | Value in 2024 |
|---|---|---|---|
| 1924 | 2 | -5.66% | £100 |
| 2024 | 132.26 | 1.35% | £6613.00 |
This table highlights the key figures that affect how the value of money changes over time due to inflation.
Buying Power of £100 in 1924
£100 in the year 1924 is now worth £6613.00 in 2024, showing a substantial increase of £6513.00 over the years. This change underscores how the average inflation rate of 4.30% annually has eroded the purchasing power of the British Pound.