UK inflation rate in 1798: -2.22%

UK Inflation Calculator

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UK Inflation Rate, 1798-2018 (£1)

The composite price index (CPI) in 1798 was 8.8. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 2.22% per year. Prices in 2018 are 12361.3% higher than prices in 1798.

In other words, £1 in the year 1798 is equivalent in purchasing power to £124.61 in 2018, a difference of £123.61 over 220 years.

The current inflation rate in 2018 is 3.10%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1798 to 2018
Cumulative price change 12361.27%
Average inflation rate 2.22%
Price difference (£1 base) £123.61
CPI in 1798 8.8
CPI in 2018 1096.59148


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


How to calculate the inflation rate for £1 since 1798

Start with the inflation rate formula:

CPI in 2018 / CPI in 1798 * 1798 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 8.8 in the year 1798 and 1096.59148 in 2018:

1096.59148 / 8.8 * £1 = £124.61

£1 in 1798 has the same "purchasing power" as £124.61 in 2018.


News headlines from 1798

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

  • Congress passes the Prohibition of "false, scandalous and malicious" writing against government in the US Sedition Act.
  • Rome is invaded, and subsequently proclaimed a Roman Republic by Louis Alexande Berthier. Pope Pius VI was taken prisoner during the invasion.
  • The Republic of Switzerland is formed.

Inflation Data Source

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 1798 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018, http://www.in2013dollars.com/UK-inflation-rate-in-1798.


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