UK inflation rate in 1764: 8.77%

UK Inflation Calculator

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Inflation in 1764 and Its Effect on Pound Value

Purchasing power decreased by 8.77% in 1764 compared to the previous year, 1763. On average, you would have to spend 8.77% more money in 1764 than in 1763 for the same item.

In other words, £1 in 1763 is equivalent in purchasing power to £1.09 in 1764.

The 1763 inflation rate was 3.64%. The inflation rate in 1764 was 8.77%. The 1764 inflation rate is higher compared to the average inflation rate of 2.06% per year between 1764 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1764 was 6.2. It was 5.7 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 rate 8.77%
Converted amount (£1 base) £1.09
Price difference (£1 base) £0.09
CPI in 1763 5.700
CPI in 1764 6.200
Inflation in 1763 3.64%
Inflation in 1764 8.77%


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


How to Calculate Inflation Rate for £1, 1763 to 1764

This inflation calculator uses the following inflation rate formula:

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

Then plug in historical CPI values. The UK 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 2017, 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.” U.S. Official Inflation Data, Alioth Finance, 15 Dec. 2018, https://www.officialdata.org/UK-inflation-rate-in-1764.

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


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