Queen's 90th birthday: Price of a pint of beer rises 15,600 per cent in Monarch's lifetime

The average price of a pint of beer has surged from around 2p 90 years ago to £2.57 today

Queen Elizabeth II watches a pint of Guinness being poured as they visit the Guinness Storehouse in 2011 (Getty Images)

As the UK’s longest reigning monarch, Queen Elizabeth II has seen dramatic changes in Britain over the years. She has lived through a World War, been Monarch to twelve UK Prime Ministers and seen seven archbishops and seven Popes during her reign.

Throughout her lifetime the Queen has also witnessed the falling value of money and as the Monarch prepares for her 90^th birthday, those wishing to raise a pint in celebration can expect to pay 15,633 per cent more for their tipple than in 1926, the year she was born.

According to an analysis by Lloyds Bank Private Banking, the average price of a pint of beer has surged from around 2p 90 years ago to £2.57 today. The average price of a loaf of bread, now £1.02, would have been under 2p in 1926.

Sarah Deaves, private banking director at Lloyds Bank, said: "The value of money has fallen substantially since the birth of Queen Elizabeth in 1926 as retail prices and the cost of many everyday items have soared.

"Such has been the rise in inflation that £1.80 in 1926 would have provided the same spending power as £100 today."

Lloyds said the purchasing power of the pound has eroded at an average rate of 4.6 per cent per year over the past 90 years.

The impact of inflation, with a 56-fold increase in retail prices, means in 2016 someone would need £55.7 million to have the equivalent purchasing power of £1 million in 1926, the analysis said, citing data from the ONS.

Rationing introduced during World War II combined with a general shortage of many goods and essentials, helped drive retail price inflation, which grew by 69 per cent in the decade to 1946 and by a similar amount over the following 10 years.

The data comes as the Queen prepares to mark her official 90^th birthday on Saturday. The Queen has two birthdays – her real birthday on 21 April and her official birthday held in June – a tradition dating back 250 years.

On Friday, three days of events to mark the celebrations began with a national service of thanksgiving at St Paul’s Cathedral in London.

The service was attended by many Royal Family members, including the Duke of Edinburgh on his own 95^th birthday. Guests also included senior politicians, faith leaders and hundreds of members of the public nominated by government departments to recognise their services.

Archbishop Welby, who led the service, said over the Queen’s lifetime there had been “much to fear at times of personal challenge and national crisis.”

“Through war and hardship, through turmoil and change, we have been fearfully and wonderfully sustained," he said.

Additional reporting by Press Association