£500 in 1845 → £57,775.81 in 2017

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UK Inflation Rate, £500 in 1845 to 2017

According to the Office for National Statistics composite price index, prices in 2017 are 11,455.16% higher than prices in 1845. The pound experienced an average inflation rate of 2.80% per year during this period.

In other words, £500 in 1845 is equivalent in purchasing power to £57,775.81 in 2017, a difference of £57,275.81 over 172 years.

The 1845 inflation rate was 4.49%. The inflation rate in 2017 was 3.59%. The 2017 inflation rate is higher compared to the average inflation rate of 2.20% per year between 2017 and 2018.


Inflation from 1845 to 2017
Cumulative price change 11,455.16%
Average inflation rate 2.80%
Converted amount (£500 base) £57,775.81
Price difference (£500 base) £57,275.81
CPI in 1845 9.300
CPI in 2017 1,074.630
Inflation in 1845 4.49%
Inflation in 2017 3.59%


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


Buying power of £500 since 1845

This chart shows calculations of buying power equivalence over time for £500 in 1845 (price index tracking began in 1750).

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:

Year GBP Value Inflation Rate
1845 £500.00 4.49%
1846 £521.51 4.30%
1847 £586.02 12.37%
1848 £510.75 -12.84%
1849 £478.49 -6.32%
1850 £451.61 -5.62%
1851 £435.48 -3.57%
1852 £435.48 0.00%
1853 £478.49 9.88%
1854 £548.39 14.61%
1855 £564.52 2.94%
1856 £564.52 0.00%
1857 £537.63 -4.76%
1858 £489.25 -9.00%
1859 £483.87 -1.10%
1860 £500.00 3.33%
1861 £510.75 2.15%
1862 £500.00 -2.11%
1863 £483.87 -3.23%
1864 £478.49 -1.11%
1865 £483.87 1.12%
1866 £510.75 5.56%
1867 £543.01 6.32%
1868 £537.63 -0.99%
1869 £510.75 -5.00%
1870 £510.75 0.00%
1871 £516.13 1.05%
1872 £537.63 4.17%
1873 £559.14 4.00%
1874 £537.63 -3.85%
1875 £526.88 -2.00%
1876 £526.88 0.00%
1877 £521.51 -1.02%
1878 £510.75 -2.06%
1879 £489.25 -4.21%
1880 £505.38 3.30%
1881 £500.00 -1.06%
1882 £505.38 1.08%
1883 £500.00 -1.06%
1884 £489.25 -2.15%
1885 £473.12 -3.30%
1886 £467.74 -1.14%
1887 £462.37 -1.15%
1888 £467.74 1.16%
1889 £473.12 1.15%
1890 £473.12 0.00%
1891 £478.49 1.14%
1892 £478.49 0.00%
1893 £473.12 -1.12%
1894 £467.74 -1.14%
1895 £462.37 -1.15%
1896 £456.99 -1.16%
1897 £467.74 2.35%
1898 £467.74 0.00%
1899 £473.12 1.15%
1900 £494.62 4.55%
1901 £494.62 0.00%
1902 £494.62 0.00%
1903 £500.00 1.09%
1904 £500.00 0.00%
1905 £500.00 0.00%
1906 £500.00 0.00%
1907 £505.38 1.08%
1908 £505.38 0.00%
1909 £510.75 1.06%
1910 £516.13 1.05%
1911 £516.13 0.00%
1912 £532.26 3.13%
1913 £526.88 -1.01%
1914 £526.88 0.00%
1915 £591.40 12.24%
1916 £698.92 18.18%
1917 £876.34 25.38%
1918 £1,069.89 22.09%
1919 £1,177.42 10.05%
1920 £1,360.22 15.53%
1921 £1,241.94 -8.70%
1922 £1,069.89 -13.85%
1923 £1,005.38 -6.03%
1924 £1,000.00 -0.53%
1925 £1,000.00 0.00%
1926 £994.62 -0.54%
1927 £967.74 -2.70%
1928 £967.74 0.00%
1929 £956.99 -1.11%
1930 £930.11 -2.81%
1931 £892.47 -4.05%
1932 £870.97 -2.41%
1933 £849.46 -2.47%
1934 £849.46 0.00%
1935 £854.84 0.63%
1936 £860.22 0.63%
1937 £892.47 3.75%
1938 £903.23 1.20%
1939 £930.11 2.98%
1940 £1,086.02 16.76%
1941 £1,204.30 10.89%
1942 £1,290.32 7.14%
1943 £1,333.33 3.33%
1944 £1,370.97 2.82%
1945 £1,408.60 2.75%
1946 £1,451.61 3.05%
1947 £1,553.76 7.04%
1948 £1,672.04 7.61%
1949 £1,720.43 2.89%
1950 £1,774.19 3.13%
1951 £1,935.48 9.09%
1952 £2,112.90 9.17%
1953 £2,177.42 3.05%
1954 £2,220.43 1.98%
1955 £2,317.20 4.36%
1956 £2,435.48 5.10%
1957 £2,521.51 3.53%
1958 £2,602.15 3.20%
1959 £2,612.90 0.41%
1960 £2,639.78 1.03%
1961 £2,731.18 3.46%
1962 £2,849.46 4.33%
1963 £2,903.23 1.89%
1964 £3,000.00 3.33%
1965 £3,139.78 4.66%
1966 £3,263.44 3.94%
1967 £3,349.46 2.64%
1968 £3,505.38 4.65%
1969 £3,693.55 5.37%
1970 £3,930.11 6.40%
1971 £4,301.08 9.44%
1972 £4,607.53 7.13%
1973 £5,026.88 9.10%
1974 £5,833.33 16.04%
1975 £7,247.31 24.24%
1976 £8,446.24 16.54%
1977 £9,784.95 15.85%
1978 £10,596.77 8.30%
1979 £12,016.13 13.39%
1980 £14,177.42 17.99%
1981 £15,860.22 11.87%
1982 £17,225.81 8.61%
1983 £18,016.13 4.59%
1984 £18,913.98 4.98%
1985 £20,064.52 6.08%
1986 £20,747.31 3.40%
1987 £21,612.90 4.17%
1988 £22,672.04 4.90%
1989 £24,435.48 7.78%
1990 £26,747.31 9.46%
1991 £28,317.20 5.87%
1992 £29,376.34 3.74%
1993 £29,844.09 1.59%
1994 £30,564.52 2.41%
1995 £31,623.66 3.47%
1996 £32,387.10 2.41%
1997 £33,403.23 3.14%
1998 £34,548.39 3.43%
1999 £35,080.65 1.54%
2000 £36,118.28 2.96%
2001 £36,758.06 1.77%
2002 £37,370.97 1.67%
2003 £38,451.61 2.89%
2004 £39,596.77 2.98%
2005 £40,715.05 2.82%
2006 £42,016.13 3.20%
2007 £43,817.20 4.29%
2008 £45,564.52 3.99%
2009 £45,322.58 -0.53%
2010 £47,413.98 4.61%
2011 £49,881.72 5.20%
2012 £51,483.87 3.21%
2013 £53,048.39 3.04%
2014 £54,301.08 2.36%
2015 £54,838.71 0.99%
2016 £55,770.97 1.70%
2017 £57,775.81 3.59%
2018 £59,046.87 2.20%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £500, 1845 to 2017

This inflation calculator uses the following inflation rate formula:

CPI in 2017CPI in 1845
×
1845 GBP value
=
2017 GBP value

Then plug in historical CPI values. The UK CPI was 9.3 in the year 1845 and 1074.63 in 2017:

1074.639.3
×
£500
=
£57,775.81

£500 in 1845 has the same "purchasing power" or "buying power" as £57,775.81 in 2017.

To get the total inflation rate for the 172 years between 1845 and 2017, we use the following formula:

CPI in 2017 - CPI in 1845CPI in 1845
×
100
=
Cumulative inflation rate (172 years)

Plugging in the values to this equation, we get:

1074.63 - 9.39.3
×
100
=
11,455%

News headlines from 1845

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: “£500 in 1845 → 2017 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2018, https://www.officialdata.org/1845-GBP-in-2017?amount=500.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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