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# £1 in 1860 → £0.97 in 1859

### UK Inflation Rate, £1 in 1860 to 1859

According to the Office for National Statistics composite price index, prices in 1859 are 3.23% lower than average prices throughout 1860. The pound experienced an average inflation rate of 3.33% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1860 is equivalent in purchasing power to about £0.97 in 1859.

The 1859 inflation rate was -1.10%. The inflation rate in 1860 was 3.33%. The 1860 inflation rate is higher compared to the average inflation rate of 3.06% per year between 1860 and 2019.

 Average inflation rate 3.33% Converted amount (£1 base) £0.97 Price difference (£1 base) £-0.03 CPI in 1860 9.300 CPI in 1859 9.000 Inflation in 1859 -1.10% Inflation in 1860 3.33%

### How to Calculate Inflation Rate for £1, 1859 to 1860

This inflation calculator uses the following inflation rate formula:

CPI in 1859CPI in 1860
×
1860 GBP value
=
1859 GBP value

Then plug in historical CPI values. The UK CPI was 9.3 in the year 1860 and 9 in 1859:

99.3
×
£1
=
£0.97

£1 in 1860 has the same "purchasing power" or "buying power" as £0.97 in 1859.

To get the total inflation rate for the 1 years between 1859 and 1860, we use the following formula:

CPI in 1859 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9 - 9.39.3
×
100
=
-3%

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

• Abraham Lincoln becomes the 16th President of the U.S.
• Slavery ends in the Dutch East Indies.

### 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 1860 → 1859 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Oct. 2019, https://www.officialdata.org/1860-GBP-in-1859?amount=1.