£1 in 1780 → £169.10 in 2017

UK Inflation Calculator


UK Inflation Rate, 1780-2017 (£1)

According to the Office for National Statistics, the pound experienced an average inflation rate of 2.19% per year. Prices in 2017 are 16810.3% higher than prices in 1780.

In other words, £1 in the year 1780 is equivalent to £169.10 in 2017, a difference of £168.10 over 237 years.

The current inflation rate in 2017 is 2.70%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1780 to 2017
Cumulative price change 16810.29%
Average inflation rate 2.19%
Price difference (£1 base) £168.10
CPI in 1780 6.3
CPI in 2017 1065.34818

UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.

How to calculate the inflation rate for £1 since 1780

Start with the inflation rate formula:

CPI in 2017 / CPI in 1780 * 1780 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 6.3 in the year 1780 and 1065.34818 in 2017:

1065.34818 / 6.3 * £1 = £169.10

£1 in 1780 has the same "purchasing power" as £169.10 in 2017.

News headlines from 1780

Politics and news often influence economic performance. Here's what was happening at the time:

  • The Danish national anthem, Kong Christian, is sung for the first time.
  • Pennsylvania abolishes slavery, for new born children.
  • British Gazette and Sunday Monitor become the first British Sunday newspaper
  • 1781 William Hershel, discovers Uranus, he originally thought it was a comet.
  • Forty-four Spanish speaking mestizos found the city of Los Angeles in the Bay of Smokes (Bahia de las Fumas)
  • General Cornwallis surrenders at Yorktown,,ending the United States Revolutionary War.

Inflation Data Source

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: “£1 in 1780 → 2017 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 14 Dec. 2017, http://www.in2013dollars.com/1780-GBP-in-2017?amount=1.

» Read more about inflation.