Value of £2,000 from 1940 to 2019
£2,000 in 1940 is equivalent in purchasing power to about £112,031.72 in 2019, an increase of £110,031.72 over 79 years. The pound had an average inflation rate of 5.23% per year between 1940 and 2019, producing a cumulative price increase of 5,501.59%.
This means that prices in 2019 are 56.02 times as high as average prices since 1940, according to the Office for National Statistics composite price index.
The inflation rate in 1940 was 16.76%. The inflation rate in 2019 was 2.50%. The 2019 inflation rate is lower compared to the average inflation rate of 4.16% per year between 2019 and 2025.
⌃
| Cumulative price change | 5,501.59% |
| Average inflation rate | 5.23% |
| Converted amount £2,000 base | £112,031.72 |
| Price difference £2,000 base | £110,031.72 |
| CPI in 1940 | 20.200 |
| CPI in 2019 | 1,131.520 |
| Inflation in 1940 | 16.76% |
| Inflation in 2019 | 2.50% |
| £2,000 in 1940 | £112,031.72 in 2019 |
Buying power of £2,000 in 1940
This chart shows a calculation of buying power equivalence for £2,000 in 1940 (price index tracking began in 1750).
For example, if you started with £2,000, you would need to end with £112,031.72 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When £2,000 is equivalent to £112,031.72 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.
This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1940 dollars, the chart below shows how £2,000 is worth less over 79 years.
According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1940 amounts in 2019 pounds, based on the 5,501.59% change in prices:
| Initial value | Equivalent value |
|---|---|
| £1 pound in 1940 | £56.02 pounds in 2019 |
| £5 pounds in 1940 | £280.08 pounds in 2019 |
| £10 pounds in 1940 | £560.16 pounds in 2019 |
| £50 pounds in 1940 | £2,800.79 pounds in 2019 |
| £100 pounds in 1940 | £5,601.59 pounds in 2019 |
| £500 pounds in 1940 | £28,007.93 pounds in 2019 |
| £1,000 pounds in 1940 | £56,015.86 pounds in 2019 |
| £5,000 pounds in 1940 | £280,079.30 pounds in 2019 |
| £10,000 pounds in 1940 | £560,158.59 pounds in 2019 |
| £50,000 pounds in 1940 | £2,800,792.96 pounds in 2019 |
| £100,000 pounds in 1940 | £5,601,585.93 pounds in 2019 |
| £500,000 pounds in 1940 | £28,007,929.64 pounds in 2019 |
| £1,000,000 pounds in 1940 | £56,015,859.28 pounds in 2019 |
How to calculate inflation rate for £2,000, 1940 to 2019
Our calculations use the following inflation rate formula to calculate the change in value between 1940 and 2019:
CPI in 2019 CPI in 1940
×
1940 GBP value
=
2019 GBP value
Then plug in historical CPI values. The U.K. CPI was 20.2 in the year 1940 and 1131.5203575 in 2019:
1131.520357520.2
×
£2,000
=
£112,031.72
£2,000 in 1940 has the same "purchasing power" or "buying power" as £112,031.72 in 2019.
To get the total inflation rate for the 79 years between 1940 and 2019, we use the following formula:
CPI in 2019 - CPI in 1940CPI in 1940
×
100
=
Cumulative inflation rate (79 years)
Plugging in the values to this equation, we get:
1131.5203575 - 20.220.2
×
100
=
5,502%
Data source & citation
Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for the current year, which is based on The Bank of England's forecast.
You may use the following MLA citation for this page: “£2,000 in 1940 → 2019 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Dec. 2024, https://www.officialdata.org/1940-GBP-in-2019?amount=2000.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 5,501.59% |
| Average inflation rate | 5.23% |
| Converted amount £2,000 base | £112,031.72 |
| Price difference £2,000 base | £110,031.72 |
| CPI in 1940 | 20.200 |
| CPI in 2019 | 1,131.520 |
| Inflation in 1940 | 16.76% |
| Inflation in 2019 | 2.50% |
| £2,000 in 1940 | £112,031.72 in 2019 |