U.K. inflation rate in 1764: 8.77%

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Inflation in 1764 and its effect on pound value

£1 in 1763 is equivalent in purchasing power to about £1.09 in 1764. The pound had an average inflation rate of 8.77% per year between 1763 and 1764, producing a cumulative price increase of 8.77%. Purchasing power decreased by 8.77% in 1764 compared to 1763. On average, you would have to spend 8.77% more money in 1764 than in 1763 for the same item.

This means that prices in 1764 are 1.09 times as high as average prices since 1763, according to the Office for National Statistics composite price index.

The inflation rate in 1763 was 3.64%. The inflation rate in 1764 was 8.77%. The 1764 inflation rate is higher compared to the average inflation rate of 2.11% per year between 1764 and 2024.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1764 was 6.20. It was 5.70 in the previous year, 1763. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃
Inflation from 1763 to 1764
Average inflation rate8.77%
Converted amount
£1 base		£1.09
Price difference
£1 base		£0.09
CPI in 17635.700
CPI in 17646.200
Inflation in 17633.64%
Inflation in 17648.77%
£1 in 1763£1.09 in 1764
Recent GBP inflation
Annual Rate, the Office for National Statistics CPI
Download

How to calculate inflation rate for £1, 1763 to 1764

Our calculations use the following inflation rate formula to calculate the change in value between 1763 and 1764:

CPI in 1764 CPI in 1763
×
1763 GBP value
=
1764 GBP value

Then plug in historical CPI values. The U.K. CPI was 5.7 in the year 1763 and 6.2 in 1764:

6.25.7
×
£1
=
£1.09

£1 in 1763 has the same "purchasing power" or "buying power" as £1.09 in 1764.

To get the total inflation rate for the 1 years between 1763 and 1764, we use the following formula:

CPI in 1764 - CPI in 1763CPI in 1763
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

6.2 - 5.75.7
×
100
=
9%

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 the current year, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “Inflation Rate in 1764 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Apr. 2024, https://www.officialdata.org/UK-inflation-rate-in-1764.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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

Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1763 to 1764
Average inflation rate8.77%
Converted amount
£1 base		£1.09
Price difference
£1 base		£0.09
CPI in 17635.700
CPI in 17646.200
Inflation in 17633.64%
Inflation in 17648.77%
£1 in 1763£1.09 in 1764