Year by year, in 2025 prices
| Year | £1 | 1 shilling | 1 penny | £100 |
|---|---|---|---|---|
| 1940 | £78.64 | £3.93 | £0.33 | £7,864 |
| 1941 | £70.92 | £3.55 | £0.30 | £7,092 |
| 1942 | £66.19 | £3.31 | £0.28 | £6,619 |
| 1943 | £64.06 | £3.20 | £0.27 | £6,406 |
| 1944 | £62.30 | £3.11 | £0.26 | £6,230 |
| 1945 | £60.63 | £3.03 | £0.25 | £6,063 |
| 1946 | £58.84 | £2.94 | £0.25 | £5,884 |
| 1947 | £54.97 | £2.75 | £0.23 | £5,497 |
| 1948 | £51.08 | £2.55 | £0.21 | £5,108 |
| 1949 | £49.64 | £2.48 | £0.21 | £4,964 |
Money in the 1940s
The Second World War brought rationing from 1940 and steadily rising prices. In 1949 the pound was devalued from $4.03 to $2.80.
Prices rose about 58% between 1940 and 1949. These figures compare the cost of everyday goods and services. Wages, house prices and the size of the economy all grew at different rates, so a 1940s salary or fortune would look bigger still if compared with what people earn or own today.
Source: Office for National Statistics composite price index (CDKO), Open Government Licence v3.0. Figures are rounded.
Other decades: 1800s · 1810s · 1820s · 1830s · 1840s · 1850s · 1860s · 1870s · 1880s · 1890s · 1900s · 1910s · 1920s · 1930s · 1940s · 1950s · 1960s · 1970s
Common questions
How much was £1 in 1940 worth today?
About £78.64 in 2025 prices, based on the ONS composite price index.
How much was £1 in 1945 worth today?
About £60.63 in 2025 prices.
How much was a shilling in 1945 worth today?
About £3.03. A shilling was 1/20 of a pound, or 5p in decimal money.