According to the Office for National Statistics composite price index, prices in 2004 are 14,063.46% higher than average prices throughout 1756. The pound experienced an average inflation rate of 2.02% per year during this period, meaning the real value of a dollar decreased.

In other words, £100 in 1756 is equivalent in purchasing power to about £14,163.46 in 2004, a difference of £14,063.46 over 248 years.

The 1756 inflation rate was 4.00%. The inflation rate in 2004 was 2.98%. The 2004 inflation rate is higher compared to the average inflation rate of 2.84% per year between 2004 and 2019.

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Cumulative price change | 14,063.46% |

Average inflation rate | 2.02% |

Converted amount (£100 base) | £14,163.46 |

Price difference (£100 base) | £14,063.46 |

CPI in 1756 | 5.200 |

CPI in 2004 | 736.500 |

Inflation in 1756 | 4.00% |

Inflation in 2004 | 2.98% |

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £100 in 1756 (price index tracking began in 1750).

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 inflation calculator uses the following inflation rate formula:

CPI in 2004CPI in 1756

×

1756 GBP value

=

2004 GBP value

Then plug in historical CPI values. The UK CPI was 5.2 in the year 1756 and 736.5 in 2004:

736.55.2

×

£100

=

£100 in 1756 has the same "purchasing power" or "buying power" as £14,163.46 in 2004.

To get the total inflation rate for the 248 years between 1756 and 2004, we use the following formula:

CPI in 2004 - CPI in 1756CPI in 1756

×

100

=

Plugging in the values to this equation, we get:

736.5 - 5.25.2

×

100

=

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 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “1756 pounds in 2004 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Sep. 2019, https://www.officialdata.org/1756-GBP-in-2004.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Cumulative price change | 14,063.46% |

Average inflation rate | 2.02% |

Converted amount (£100 base) | £14,163.46 |

Price difference (£100 base) | £14,063.46 |

CPI in 1756 | 5.200 |

CPI in 2004 | 736.500 |

Inflation in 1756 | 4.00% |

Inflation in 2004 | 2.98% |