UK inflation rate in 1776: -1.43%

UK Inflation Calculator


UK Inflation Rate, 1776-2017 (£1)

The composite price index (CPI) in 1776 was 6.9. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics, the pound experienced an average inflation rate of 2.11% per year. Prices in 2017 are 15339.8% higher than prices in 1776.

In other words, £1 in the year 1776 is equivalent to £154.40 in 2017, a difference of £153.40 over 241 years.

The current inflation rate in 2017 is 2.70%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1776 to 2017
Cumulative price change 15339.83%
Average inflation rate 2.11%
Price difference (£1 base) £153.40
CPI in 1776 6.9
CPI in 2017 1065.34818

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

How to calculate the inflation rate for £1 since 1776

Start with the inflation rate formula:

CPI in 2017 / CPI in 1776 * 1776 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 6.9 in the year 1776 and 1065.34818 in 2017:

1065.34818 / 6.9 * £1 = £154.40

£1 in 1776 has the same "purchasing power" as £154.40 in 2017.

News headlines from 1776

Politics and news often play an important role in economic performance.

  • Austria outlaws interrogation and torture.
  • Thomas Paine issues Common Sense, a pamphlet advocating American independence.
  • 56 people formally sign the U.S. Declaration of Independence
  • The United States Congress officially releases the Declaration of Independence.
  • United States of America gets its official name
  • British troops capture Fort Washington.

Inflation Data Source: This calculator uses 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.

» Read more about inflation.