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# £1 in 1845 → £0.96 in 1844

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

According to the Office for National Statistics composite price index, prices in 1844 are 4.3% lower than average prices throughout 1845. 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 1845 is equivalent in purchasing power to about £0.96 in 1844.

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) £0.96 Price difference (£1 base) £-0.04 CPI in 1845 9.300 CPI in 1844 8.900 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 1844CPI in 1845
×
1845 GBP value
=
1844 GBP value

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

8.99.3
×
£1
=
£0.96

£1 in 1845 has the same "purchasing power" or "buying power" as £0.96 in 1844.

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

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

Plugging in the values to this equation, we get:

8.9 - 9.39.3
×
100
=
-4%

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

• Suggestion of aggressive expansion of the United States made by President James K. Polk to Congress, appeal known as Manifest Destiny
• The Union admits Texas as 28th state.
• James K. Polk,becomes the United States' 11th President,

### 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 1845 → 1844 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Aug. 2019, https://www.officialdata.org/1845-GBP-in-1844?amount=1.