£1 in 2004 is worth £1.73 today

£
£ 1.73

The Impact of Inflation on value of £1 from 2004 to 2024

In 1913 the price of £1 is approximately equal to £1.73 in 2024. Prices changed by 2.73% (or £0.04) per year on average during that period. It means that every purchase will cost you 1.73 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 £1 in 2004 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 £1 in 2004 Worth Today?

  • Converted Amount: The £1 from 2004, adjusted for inflation, would be equivalent to £1.73 in 2024.
  • Cumulative Price Change: Over this period, the cumulative price change has been 72.89%.
  • Average Inflation Rate: The average annual inflation rate between 2004 and 2024 has been 2.73%.
Inflation from 2004 to 2024
Cumulative price change 72.89%
Average inflation rate 2.73%
Converted amount 1.73
Price difference 0.73
CPI in 2004 76.5
CPI in 2024132.26
Inflation in 20041.32%
Inflation in 20241.35%
1 in 20041.73 in 2024

Key Financial Indicators:

Consumer Price Index (CPI) Comparison

  • CPI in 2004: 76.5
  • CPI in 2024: 132.26

Inflation Rate at 2004 and 2024

  • Inflation in 2004: 1.32%
  • Inflation in 2024: 1.35%

Price Difference

  • The price difference between 2004 and 2024 is £0.73.

2004 to 2024 Inflation Calculator

To understand the transformation of £1 from 2004 into 2024 British Pounds, consider the following table:

YearCPIInflation rateValue in 2024
200476.51.32%£1
2024132.261.35%£1.73

This table highlights the key figures that affect how the value of money changes over time due to inflation.

Buying Power of £1 in 2004

£1 in the year 2004 is now worth £1.73 in 2024, showing a substantial increase of £0.73 over the years. This change underscores how the average inflation rate of 2.73% annually has eroded the purchasing power of the British Pound.

Inflation from 2004 to 2024
Cumulative price change 72.89%
Average inflation rate 2.73%
Converted amount 1.73
Price difference 0.73
CPI in 2004 76.5
CPI in 2024132.26
Inflation in 20041.32%
Inflation in 20241.35%
1 in 20041.73 in 2024