UK inflation rate in 1873: 4.00%

UK Inflation Calculator

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Inflation in 1873 and Its Effect on Pound Value

Purchasing power decreased by 4.00% in 1873 compared to the previous year, 1872. On average, you would have to spend 4.00% more money in 1873 than in 1872 for the same item.

In other words, £100 in 1872 is equivalent in purchasing power to £104 in 1873.

The 1872 inflation rate was 4.17%. The inflation rate in 1873 was 4.00%. The 1873 inflation rate is higher compared to the average inflation rate of 3.27% per year between 1873 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1873 was 10.4. It was 10 in the previous year, 1872. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1872 to 1873
Average inflation rate 4.00%
Converted amount (£100 base) £104
Price difference (£100 base) £4.00
CPI in 1872 10
CPI in 1873 10.4
Inflation in 1872 4.17%
Inflation in 1873 4.00%


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


How to Calculate Inflation Rate for £100, 1872 to 1873

This inflation calculator uses the following inflation rate formula:

CPI in 1873CPI in 1872
×
1872 GBP value
=
1873 GBP value

Then plug in historical CPI values. The UK CPI was 10 in the year 1872 and 10.4 in 1873:

10.410
×
£100
=
£104

£100 in 1872 has the same "purchasing power" or "buying power" as £104 in 1873.

To get the total inflation rate for the 1 years between 1872 and 1873, we use the following formula:

CPI in 1873 - CPI in 1872CPI in 1872
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.4 - 1010
×
100
=
4%

News headlines from 1872

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

  • Coronation of Yohannes IV Emperoro of Ethiopia, is the first imperial coronation in Axum for over 200 years.
  • Yellowstone is declared the world's first national park.
  • The Mary Celeste sets sail from Staten Island for Genoa and is found abandoned four weeks later.

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 1873 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Sep. 2018, https://www.officialdata.org/UK-inflation-rate-in-1873.

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


» Read more about inflation.