UK inflation rate in 1838: 0.99%

UK Inflation Calculator

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Inflation in 1838 and Its Effect on Pound Value

Purchasing power decreased by 0.99% in 1838 compared to the previous year, 1837. On average, you would have to spend 0.99% more money in 1838 than in 1837 for the same item.

In other words, £1 in 1837 is equivalent in purchasing power to £1.01 in 1838.

The 1837 inflation rate was 2.02%. The inflation rate in 1838 was 0.99%. The 1838 inflation rate is lower compared to the average inflation rate of 2.63% per year between 1838 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1838 was 10.2. It was 10.1 in the previous year, 1837. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1837 to 1838
Average inflation rate 0.99%
Converted amount (£1 base) £1.01
Price difference (£1 base) £0.01
CPI in 1837 10.100
CPI in 1838 10.200
Inflation in 1837 2.02%
Inflation in 1838 0.99%


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


How to Calculate Inflation Rate for £1, 1837 to 1838

This inflation calculator uses the following inflation rate formula:

CPI in 1838CPI in 1837
×
1837 GBP value
=
1838 GBP value

Then plug in historical CPI values. The UK CPI was 10.1 in the year 1837 and 10.2 in 1838:

10.210.1
×
£1
=
£1.01

£1 in 1837 has the same "purchasing power" or "buying power" as £1.01 in 1838.

To get the total inflation rate for the 1 years between 1837 and 1838, we use the following formula:

CPI in 1838 - CPI in 1837CPI in 1837
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.2 - 10.110.1
×
100
=
1%

News headlines from 1837

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

  • Black citizens of Canada gain the right to vote.
  • Thomas Davenport patents the first electric printing press in the United States.

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 1838 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Dec. 2018, https://www.officialdata.org/UK-inflation-rate-in-1838.

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


» Read more about inflation and investment.