£1 in 2005 is worth £1.69 today

£
£ 1.69

The Impact of Inflation on value of £1 from 2005 to 2024

In 1913 the price of £1 is approximately equal to £1.69 in 2024. Prices changed by 2.80% (or £0.04) per year on average during that period. It means that every purchase will cost you 1.69 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 2005 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 2005 Worth Today?

  • Converted Amount: The £1 from 2005, adjusted for inflation, would be equivalent to £1.69 in 2024.
  • Cumulative Price Change: Over this period, the cumulative price change has been 69.35%.
  • Average Inflation Rate: The average annual inflation rate between 2005 and 2024 has been 2.80%.
Inflation from 2005 to 2024
Cumulative price change 69.35%
Average inflation rate 2.80%
Converted amount 1.69
Price difference 0.69
CPI in 2005 78.1
CPI in 2024132.26
Inflation in 20052.09%
Inflation in 20241.35%
1 in 20051.69 in 2024

Key Financial Indicators:

Consumer Price Index (CPI) Comparison

  • CPI in 2005: 78.1
  • CPI in 2024: 132.26

Inflation Rate at 2005 and 2024

  • Inflation in 2005: 2.09%
  • Inflation in 2024: 1.35%

Price Difference

  • The price difference between 2005 and 2024 is £0.69.

2005 to 2024 Inflation Calculator

To understand the transformation of £1 from 2005 into 2024 British Pounds, consider the following table:

YearCPIInflation rateValue in 2024
200578.12.09%£1
2024132.261.35%£1.69

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

Buying Power of £1 in 2005

£1 in the year 2005 is now worth £1.69 in 2024, showing a substantial increase of £0.69 over the years. This change underscores how the average inflation rate of 2.80% annually has eroded the purchasing power of the British Pound.

Inflation from 2005 to 2024
Cumulative price change 69.35%
Average inflation rate 2.80%
Converted amount 1.69
Price difference 0.69
CPI in 2005 78.1
CPI in 2024132.26
Inflation in 20052.09%
Inflation in 20241.35%
1 in 20051.69 in 2024