What was 1920 English pound worth in 1920?

Answer 1

In 1920, the British pound was worth approximately 20 shillings, as the pound was still divided into shillings and pence at that time. The purchasing power of the pound in 1920 was significantly different from today, with estimates indicating that £1 then is equivalent to around £40 to £50 in today's money, depending on the specific measure of inflation used. This means that the pound had a considerable value, allowing for a range of goods and services that would cost much more today.