£5,000 in 1880 → £571,611.70 in 2017

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UK Inflation Rate, £5,000 in 1880 to 2017

According to the Office for National Statistics composite price index, prices in 2017 are 11,332.23% higher than prices in 1880. The pound experienced an average inflation rate of 3.52% per year during this period.

In other words, £5,000 in 1880 is equivalent in purchasing power to £571,611.70 in 2017, a difference of £566,611.70 over 137 years.

The 1880 inflation rate was 3.30%. 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 1880 to 2017
Cumulative price change 11,332.23%
Average inflation rate 3.52%
Converted amount (£5,000 base) £571,611.70
Price difference (£5,000 base) £566,611.70
CPI in 1880 9.400
CPI in 2017 1,074.630
Inflation in 1880 3.30%
Inflation in 2017 3.59%


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


Buying power of £5,000 since 1880

This chart shows calculations of buying power equivalence over time for £5,000 in 1880 (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
1880 £5,000.00 3.30%
1881 £4,946.81 -1.06%
1882 £5,000.00 1.08%
1883 £4,946.81 -1.06%
1884 £4,840.43 -2.15%
1885 £4,680.85 -3.30%
1886 £4,627.66 -1.14%
1887 £4,574.47 -1.15%
1888 £4,627.66 1.16%
1889 £4,680.85 1.15%
1890 £4,680.85 0.00%
1891 £4,734.04 1.14%
1892 £4,734.04 0.00%
1893 £4,680.85 -1.12%
1894 £4,627.66 -1.14%
1895 £4,574.47 -1.15%
1896 £4,521.28 -1.16%
1897 £4,627.66 2.35%
1898 £4,627.66 0.00%
1899 £4,680.85 1.15%
1900 £4,893.62 4.55%
1901 £4,893.62 0.00%
1902 £4,893.62 0.00%
1903 £4,946.81 1.09%
1904 £4,946.81 0.00%
1905 £4,946.81 0.00%
1906 £4,946.81 0.00%
1907 £5,000.00 1.08%
1908 £5,000.00 0.00%
1909 £5,053.19 1.06%
1910 £5,106.38 1.05%
1911 £5,106.38 0.00%
1912 £5,265.96 3.13%
1913 £5,212.77 -1.01%
1914 £5,212.77 0.00%
1915 £5,851.06 12.24%
1916 £6,914.89 18.18%
1917 £8,670.21 25.38%
1918 £10,585.11 22.09%
1919 £11,648.94 10.05%
1920 £13,457.45 15.53%
1921 £12,287.23 -8.70%
1922 £10,585.11 -13.85%
1923 £9,946.81 -6.03%
1924 £9,893.62 -0.53%
1925 £9,893.62 0.00%
1926 £9,840.43 -0.54%
1927 £9,574.47 -2.70%
1928 £9,574.47 0.00%
1929 £9,468.09 -1.11%
1930 £9,202.13 -2.81%
1931 £8,829.79 -4.05%
1932 £8,617.02 -2.41%
1933 £8,404.26 -2.47%
1934 £8,404.26 0.00%
1935 £8,457.45 0.63%
1936 £8,510.64 0.63%
1937 £8,829.79 3.75%
1938 £8,936.17 1.20%
1939 £9,202.13 2.98%
1940 £10,744.68 16.76%
1941 £11,914.89 10.89%
1942 £12,765.96 7.14%
1943 £13,191.49 3.33%
1944 £13,563.83 2.82%
1945 £13,936.17 2.75%
1946 £14,361.70 3.05%
1947 £15,372.34 7.04%
1948 £16,542.55 7.61%
1949 £17,021.28 2.89%
1950 £17,553.19 3.13%
1951 £19,148.94 9.09%
1952 £20,904.26 9.17%
1953 £21,542.55 3.05%
1954 £21,968.09 1.98%
1955 £22,925.53 4.36%
1956 £24,095.74 5.10%
1957 £24,946.81 3.53%
1958 £25,744.68 3.20%
1959 £25,851.06 0.41%
1960 £26,117.02 1.03%
1961 £27,021.28 3.46%
1962 £28,191.49 4.33%
1963 £28,723.40 1.89%
1964 £29,680.85 3.33%
1965 £31,063.83 4.66%
1966 £32,287.23 3.94%
1967 £33,138.30 2.64%
1968 £34,680.85 4.65%
1969 £36,542.55 5.37%
1970 £38,882.98 6.40%
1971 £42,553.19 9.44%
1972 £45,585.11 7.13%
1973 £49,734.04 9.10%
1974 £57,712.77 16.04%
1975 £71,702.13 24.24%
1976 £83,563.83 16.54%
1977 £96,808.51 15.85%
1978 £104,840.43 8.30%
1979 £118,882.98 13.39%
1980 £140,265.96 17.99%
1981 £156,914.89 11.87%
1982 £170,425.53 8.61%
1983 £178,244.68 4.59%
1984 £187,127.66 4.98%
1985 £198,510.64 6.08%
1986 £205,265.96 3.40%
1987 £213,829.79 4.17%
1988 £224,308.51 4.90%
1989 £241,755.32 7.78%
1990 £264,627.66 9.46%
1991 £280,159.57 5.87%
1992 £290,638.30 3.74%
1993 £295,265.96 1.59%
1994 £302,393.62 2.41%
1995 £312,872.34 3.47%
1996 £320,425.53 2.41%
1997 £330,478.72 3.14%
1998 £341,808.51 3.43%
1999 £347,074.47 1.54%
2000 £357,340.43 2.96%
2001 £363,670.21 1.77%
2002 £369,734.04 1.67%
2003 £380,425.53 2.89%
2004 £391,755.32 2.98%
2005 £402,819.15 2.82%
2006 £415,691.49 3.20%
2007 £433,510.64 4.29%
2008 £450,797.87 3.99%
2009 £448,404.26 -0.53%
2010 £469,095.74 4.61%
2011 £493,510.64 5.20%
2012 £509,361.70 3.21%
2013 £524,840.43 3.04%
2014 £537,234.04 2.36%
2015 £542,553.19 0.99%
2016 £551,776.60 1.70%
2017 £571,611.70 3.59%
2018 £584,187.16 2.20%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £5,000, 1880 to 2017

This inflation calculator uses the following inflation rate formula:

CPI in 2017CPI in 1880
×
1880 GBP value
=
2017 GBP value

Then plug in historical CPI values. The UK CPI was 9.4 in the year 1880 and 1074.63 in 2017:

1074.639.4
×
£5,000
=
£571,611.70

£5,000 in 1880 has the same "purchasing power" or "buying power" as £571,611.70 in 2017.

To get the total inflation rate for the 137 years between 1880 and 2017, we use the following formula:

CPI in 2017 - CPI in 1880CPI in 1880
×
100
=
Cumulative inflation rate (137 years)

Plugging in the values to this equation, we get:

1074.63 - 9.49.4
×
100
=
11,332%

News headlines from 1880

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

  • Construction begins on the Panama Canal.
  • The United States constructs its first dedicated sewage system in Memphis, Tennessee.
  • The Salvation Army is formed in London.

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: “£5,000 in 1880 → 2017 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Nov. 2018, https://www.officialdata.org/1880-GBP-in-2017?amount=5000.

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


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