According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 2.01% per year. Prices in 2004 are 11779.0% higher than prices in 1764.
In other words, £100 in the year 1764 is equivalent in purchasing power to £11,879.03 in 2004, a difference of £11,779.03 over 240 years.
The inflation rate in 2004 was 2.98%.
|Cumulative price change||11779.03%|
|Average inflation rate||2.01%|
|Price difference (£100 base)||£11,779.03|
|CPI in 1764||6.2|
|CPI in 2004||736.5|
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: “1764 pounds in 2004 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Feb. 2018, http://www.in2013dollars.com/1764-GBP-in-2004.