UK inflation rate in 1857: -4.76%

UK Inflation Calculator

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Inflation in 1857 and Its Effect on Pound Value

Purchasing power increased by 4.76% in 1857 compared to the previous year, 1856. On average, you would have to spend 4.76% less money in 1857 than in 1856 for the same item. This is an example of deflation.

In other words, £1 in 1856 is equivalent in purchasing power to £0.95 in 1857.

The 1856 inflation rate was 0.00%. The inflation rate in 1857 was -4.76%. The 1857 inflation rate is lower compared to the average inflation rate of 2.96% per year between 1857 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1857 was 10. It was 10.5 in the previous year, 1856. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1857 CPI is less than 1856 CPI, negative inflation (also known as deflation) has occurred.


Inflation from 1856 to 1857
Average inflation rate -4.76%
Converted amount (£1 base) £0.95
Price difference (£1 base) £-0.05
CPI in 1856 10.500
CPI in 1857 10.000
Inflation in 1856 0.00%
Inflation in 1857 -4.76%


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


How to Calculate Inflation Rate for £1, 1856 to 1857

This inflation calculator uses the following inflation rate formula:

CPI in 1857CPI in 1856
×
1856 GBP value
=
1857 GBP value

Then plug in historical CPI values. The UK CPI was 10.5 in the year 1856 and 10 in 1857:

1010.5
×
£1
=
£0.95

£1 in 1856 has the same "purchasing power" or "buying power" as £0.95 in 1857.

To get the total inflation rate for the 1 years between 1856 and 1857, we use the following formula:

CPI in 1857 - CPI in 1856CPI in 1856
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10 - 10.510.5
×
100
=
-5%

News headlines from 1856

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

  • First piece of legislation providing for elections by a secret ballot, the Electoral Act, is passed by the colonial Tasmanian Parliament
  • The Crimean War ends after Russia signs a Peace treaty in Paris.
  • Opening of the first National Convention of the Republican Party in Philadelphia.
  • The Second Opium War, is triggered by the Arrow Incident on the Pearl River.

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 1857 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2018, https://www.officialdata.org/UK-inflation-rate-in-1857.

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


» Read more about inflation and investment.