UK inflation rate in 1860: 3.33%

UK Inflation Calculator

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Inflation in 1860 and Its Effect on Pound Value

Purchasing power decreased by 3.33% in 1860 compared to the previous year, 1859. On average, you would have to spend 3.33% more money in 1860 than in 1859 for the same item.

In other words, £1 in 1859 is equivalent in purchasing power to £1.03 in 1860.

The 1859 inflation rate was -1.10%. The inflation rate in 1860 was 3.33%. The 1860 inflation rate is higher compared to the average inflation rate of 3.07% per year between 1860 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1860 was 9.3. It was 9 in the previous year, 1859. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1859 to 1860
Average inflation rate 3.33%
Converted amount (£1 base) £1.03
Price difference (£1 base) £0.03
CPI in 1859 9.000
CPI in 1860 9.300
Inflation in 1859 -1.10%
Inflation in 1860 3.33%


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


How to Calculate Inflation Rate for £1, 1859 to 1860

This inflation calculator uses the following inflation rate formula:

CPI in 1860CPI in 1859
×
1859 GBP value
=
1860 GBP value

Then plug in historical CPI values. The UK CPI was 9 in the year 1859 and 9.3 in 1860:

9.39
×
£1
=
£1.03

£1 in 1859 has the same "purchasing power" or "buying power" as £1.03 in 1860.

To get the total inflation rate for the 1 years between 1859 and 1860, we use the following formula:

CPI in 1860 - CPI in 1859CPI in 1859
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.3 - 99
×
100
=
3%

News headlines from 1859

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

  • Codex Sinaiticus is discovered in Egypt
  • On the Origin of Species, is published by English naturalist Charles Darwin.
  • A law is passed by the French Government, attempting to standardize musical pitch.

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 1860 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2018, https://www.officialdata.org/UK-inflation-rate-in-1860.

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


» Read more about inflation and investment.