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# £1 in 1844 → £1.04 in 1845

### UK Inflation Rate, £1 in 1844 to 1845

According to the Office for National Statistics composite price index, prices in 1845 are 4.49% higher than average prices throughout 1844. The pound experienced an average inflation rate of 4.49% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1844 is equivalent in purchasing power to about £1.04 in 1845.

The 1844 inflation rate was 0.00%. The inflation rate in 1845 was 4.49%. The 1845 inflation rate is higher compared to the average inflation rate of 2.79% per year between 1845 and 2019.

 Average inflation rate 4.49% Converted amount (£1 base) £1.04 Price difference (£1 base) £0.04 CPI in 1844 8.900 CPI in 1845 9.300 Inflation in 1844 0.00% Inflation in 1845 4.49%

### How to Calculate Inflation Rate for £1, 1844 to 1845

This inflation calculator uses the following inflation rate formula:

CPI in 1845CPI in 1844
×
1844 GBP value
=
1845 GBP value

Then plug in historical CPI values. The UK CPI was 8.9 in the year 1844 and 9.3 in 1845:

9.38.9
×
£1
=
£1.04

£1 in 1844 has the same "purchasing power" or "buying power" as £1.04 in 1845.

To get the total inflation rate for the 1 years between 1844 and 1845, we use the following formula:

CPI in 1845 - CPI in 1844CPI in 1844
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.3 - 8.98.9
×
100
=
4%

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

• The World's first telegraph message containing "What hath God wrought", is sent by Samuel Morse.
• Discovery of Lake Tahoe in the US by a European, called John C. Fremont.
• Haiti gains its Independence from the Dominican Republic, now celebrated as their National Day.

### 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 1844 → 1845 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Sep. 2019, https://www.officialdata.org/1844-GBP-in-1845?amount=1.