Purchasing power increased by 10.56% in 1815 compared to the previous year, 1814. On average, you would have to spend 10.56% less money in 1815 than in 1814 for the same item. This is an example of deflation.
In other words, £1 in 1814 is equivalent in purchasing power to £0.89 in 1815.
The 1814 inflation rate was -12.88%. The inflation rate in 1815 was -10.56%. The 1815 inflation rate is lower compared to the average inflation rate of 2.22% per year between 1815 and 2018.
Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1815 was 12.7. It was 14.2 in the previous year, 1814. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1815 CPI is less than 1814 CPI, negative inflation (also known as deflation) has occurred.
|Average inflation rate||-10.56%|
|Converted amount (£1 base)||£0.89|
|Price difference (£1 base)||£-0.11|
|CPI in 1814||14.200|
|CPI in 1815||12.700|
|Inflation in 1814||-12.88%|
|Inflation in 1815||-10.56%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The UK CPI was 14.2 in the year 1814 and 12.7 in 1815:
£1 in 1814 has the same "purchasing power" or "buying power" as £0.89 in 1815.
To get the total inflation rate for the 1 years between 1814 and 1815, we use the following formula:
Plugging in the values to this equation, we get:
Politics and news often influence economic performance. Here's what was happening at the time:
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 1815 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Dec. 2018, https://www.officialdata.org/UK-inflation-rate-in-1815.
in2013dollars.com is a reference website maintained by the Official Data Foundation.