UK inflation rate in 1803: -5.17%

UK Inflation Calculator

£

UK Inflation Rate, 1803-2018 (£1)

The composite price index (CPI) in 1803 was 11. 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 2.16% per year. Prices in 2018 are 9869.0% higher than prices in 1803.

In other words, £1 in the year 1803 is equivalent in purchasing power to £99.69 in 2018, a difference of £98.69 over 215 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 1803 to 2018
Cumulative price change 9869.01%
Average inflation rate 2.16%
Price difference (£1 base) £98.69
CPI in 1803 11
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 1803

Start with the inflation rate formula:

CPI in 2018 / CPI in 1803 * 1803 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 11 in the year 1803 and 1096.59148 in 2018:

1096.59148 / 11 * £1 = £99.69

£1 in 1803 has the same "purchasing power" as £99.69 in 2018.


News headlines from 1803

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

  • John Hawkins and Richard French, patent the reaping machine
  • America makes the Louisiana Purchase.
  • The Surrey Iron Railway opens in London
  • The Louisiana Purchase is formally marked by the lowering of the French flag in New Orleans
  • 1978 Sweden introduces a ban on aerosols.
  • Over 30 countries ratify the Environmental Modification Convention, prohibiting weather warefare
  • Karol Wojtyla, Polish Cardinal, is elected as the new pope, taking the name Pope John Paul II
  • Iranian General Gholam Reza Azhari forms a military government placing Iran under military rule.
  • 918 members of Peoples Temple cult, led by Jim Jones, were murdered or committed suicide in Jonestown Guyana.

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 1803 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Apr. 2018, http://www.in2013dollars.com/UK-inflation-rate-in-1803.


» Read more about inflation.