UK inflation rate in 1861: 2.15%

UK Inflation Calculator

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Inflation in 1861 and Its Effect on Pound Value

Purchasing power decreased by 2.15% in 1861 compared to the previous year, 1860. On average, you would have to spend 2.15% more money in 1861 than in 1860 for the same item.

In other words, £1 in 1860 is equivalent in purchasing power to £1.02 in 1861.

The 1860 inflation rate was 3.33%. The inflation rate in 1861 was 2.15%. The 1861 inflation rate is lower compared to the average inflation rate of 3.07% per year between 1861 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1861 was 9.5. It was 9.3 in the previous year, 1860. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1860 to 1861
Average inflation rate 2.15%
Converted amount (£1 base) £1.02
Price difference (£1 base) £0.02
CPI in 1860 9.300
CPI in 1861 9.500
Inflation in 1860 3.33%
Inflation in 1861 2.15%


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


How to Calculate Inflation Rate for £1, 1860 to 1861

This inflation calculator uses the following inflation rate formula:

CPI in 1861CPI in 1860
×
1860 GBP value
=
1861 GBP value

Then plug in historical CPI values. The UK CPI was 9.3 in the year 1860 and 9.5 in 1861:

9.59.3
×
£1
=
£1.02

£1 in 1860 has the same "purchasing power" or "buying power" as £1.02 in 1861.

To get the total inflation rate for the 1 years between 1860 and 1861, we use the following formula:

CPI in 1861 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.5 - 9.39.3
×
100
=
2%

News headlines from 1860

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

  • Abraham Lincoln becomes the 16th President of the U.S.
  • Slavery ends in the Dutch East Indies.

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 1861 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2018, https://www.officialdata.org/UK-inflation-rate-in-1861.

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


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