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# £1 in 1789 → £1.01 in 1790

### UK Inflation Rate, £1 in 1789 to 1790

According to the Office for National Statistics composite price index, prices in 1790 are 1.35% higher than average prices throughout 1789. The pound experienced an average inflation rate of 1.35% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1789 is equivalent in purchasing power to about £1.01 in 1790.

The 1789 inflation rate was -1.33%. The inflation rate in 1790 was 1.35%. The 1790 inflation rate is lower compared to the average inflation rate of 2.21% per year between 1790 and 2019.

 Average inflation rate 1.35% Converted amount (£1 base) £1.01 Price difference (£1 base) £0.01 CPI in 1789 7.400 CPI in 1790 7.500 Inflation in 1789 -1.33% Inflation in 1790 1.35%

### How to Calculate Inflation Rate for £1, 1789 to 1790

This inflation calculator uses the following inflation rate formula:

CPI in 1790CPI in 1789
×
1789 GBP value
=
1790 GBP value

Then plug in historical CPI values. The UK CPI was 7.4 in the year 1789 and 7.5 in 1790:

7.57.4
×
£1
=
£1.01

£1 in 1789 has the same "purchasing power" or "buying power" as £1.01 in 1790.

To get the total inflation rate for the 1 years between 1789 and 1790, we use the following formula:

CPI in 1790 - CPI in 1789CPI in 1789
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.5 - 7.47.4
×
100
=
1%

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

• George Washington is elected President and John Adams is elected Vice-President by the first US Electoral College.
• William Wilberforce proposes the abolition of slavery in the United Kingdom House of Commons.
• The fall of the Bastille Prison marks the beginning of the French Revolution

### Data Source & Citation

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 1789 → 1790 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Oct. 2019, https://www.officialdata.org/1789-GBP-in-1790?amount=1.