UK inflation rate in 1856: 0.00%

UK Inflation Calculator

£

Inflation in 1856 and Its Effect on Pound Value

Purchasing power decreased by 0.00% in 1856 compared to the previous year, 1855. On average, you would have to spend 0.00% more money in 1856 than in 1855 for the same item.

In other words, £1 in 1855 is equivalent in purchasing power to £1 in 1856.

The 1855 inflation rate was 2.94%. The inflation rate in 1856 was 0.00%. The 1856 inflation rate is lower compared to the average inflation rate of 2.91% per year between 1856 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1856 was 10.5. It was 10.5 in the previous year, 1855. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1855 to 1856
Average inflation rate 0.00%
Converted amount (£1 base) £1
Price difference (£1 base) £0.00
CPI in 1855 10.500
CPI in 1856 10.500
Inflation in 1855 2.94%
Inflation in 1856 0.00%


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


How to Calculate Inflation Rate for £1, 1855 to 1856

This inflation calculator uses the following inflation rate formula:

CPI in 1856CPI in 1855
×
1855 GBP value
=
1856 GBP value

Then plug in historical CPI values. The UK CPI was 10.5 in the year 1855 and 10.5 in 1856:

10.510.5
×
£1
=
£1

£1 in 1855 has the same "purchasing power" or "buying power" as £1 in 1856.

To get the total inflation rate for the 1 years between 1855 and 1856, we use the following formula:

CPI in 1856 - CPI in 1855CPI in 1855
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.5 - 10.510.5
×
100
=
0%

News headlines from 1855

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

  • David Livingstone visits the Victoria Falls, becoming the first European to see it.
  • Henry John Temple, Third Viscount Palmerston, forms a British government.
  • A train passes a railway suspension bridge at the Niagara Falls, US for the first time.
  • Kerosene is patented by Abraham Gesner.

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 1856 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 14 Nov. 2018, https://www.officialdata.org/UK-inflation-rate-in-1856.

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


» Read more about inflation and investment.