Value of £1 from 1840 to 1854
£1 in 1840 is equivalent in purchasing power to about £0.92 in 1854, a difference of £-0.08 over 14 years. The pound had an average deflation rate of -0.60% per year since 1840, producing a cumulative price change of -8.11%.
This means that prices in 1854 are 8.11% lower than average prices since 1840, according to the Office for National Statistics composite price index.
The inflation rate in 1840 was 1.83%. The inflation rate in 1854 was 14.61%. The 1854 inflation rate is higher compared to the average inflation rate of 2.94% per year between 1854 and 2024.
⌃
| Cumulative price change | -8.11% |
| Average inflation rate | -0.60% |
| Converted amount £1 base | £0.92 |
| Price difference £1 base | £-0.08 |
| CPI in 1840 | 11.100 |
| CPI in 1854 | 10.200 |
| Inflation in 1840 | 1.83% |
| Inflation in 1854 | 14.61% |
| £1 in 1840 | £0.92 in 1854 |
Buying power of £1 in 1840
This chart shows a calculation of buying power equivalence for £1 in 1840 (price index tracking began in 1750).
For example, if you started with £1, you would need to end with £0.92 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
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 conversion table shows various other 1840 amounts in 1854 pounds, based on the -8.11% change in prices:
| Initial value | Equivalent value |
|---|---|
| £1 pound in 1840 | £0.92 pounds in 1854 |
| £5 pounds in 1840 | £4.59 pounds in 1854 |
| £10 pounds in 1840 | £9.19 pounds in 1854 |
| £50 pounds in 1840 | £45.95 pounds in 1854 |
| £100 pounds in 1840 | £91.89 pounds in 1854 |
| £500 pounds in 1840 | £459.46 pounds in 1854 |
| £1,000 pounds in 1840 | £918.92 pounds in 1854 |
| £5,000 pounds in 1840 | £4,594.59 pounds in 1854 |
| £10,000 pounds in 1840 | £9,189.19 pounds in 1854 |
| £50,000 pounds in 1840 | £45,945.95 pounds in 1854 |
| £100,000 pounds in 1840 | £91,891.89 pounds in 1854 |
| £500,000 pounds in 1840 | £459,459.46 pounds in 1854 |
| £1,000,000 pounds in 1840 | £918,918.92 pounds in 1854 |
How to calculate inflation rate for £1, 1840 to 1854
Our calculations use the following inflation rate formula to calculate the change in value between 1840 and 1854:
CPI in 1854 CPI in 1840
×
1840 GBP value
=
1854 GBP value
Then plug in historical CPI values. The U.K. CPI was 11.1 in the year 1840 and 10.2 in 1854:
10.211.1
×
£1
=
£0.92
£1 in 1840 has the same "purchasing power" or "buying power" as £0.92 in 1854.
To get the total inflation rate for the 14 years between 1840 and 1854, we use the following formula:
CPI in 1854 - CPI in 1840CPI in 1840
×
100
=
Cumulative inflation rate (14 years)
Plugging in the values to this equation, we get:
10.2 - 11.111.1
×
100
=
-8%
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 the current year, which is based on The Bank of England's forecast.
You may use the following MLA citation for this page: “£1 in 1840 → 1854 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Apr. 2024, https://www.officialdata.org/1840-GBP-in-1854?amount=1.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | -8.11% |
| Average inflation rate | -0.60% |
| Converted amount £1 base | £0.92 |
| Price difference £1 base | £-0.08 |
| CPI in 1840 | 11.100 |
| CPI in 1854 | 10.200 |
| Inflation in 1840 | 1.83% |
| Inflation in 1854 | 14.61% |
| £1 in 1840 | £0.92 in 1854 |