According to the Office for National Statistics composite price index, prices in 2004 are 11,590.48% higher than average prices since 1758. The British pound experienced an average inflation rate of 1.95% per year during this period, causing the real value of a pound to decrease.

In other words, £100 in 1758 is equivalent in purchasing power to about £11,690.48 in 2004, a difference of £11,590.48 over 246 years.

The 1758 inflation rate was 0.00%. The inflation rate in 2004 was 2.98%. The 2004 inflation rate is higher compared to the average inflation rate of 2.76% per year between 2004 and 2020.

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Cumulative price change | 11,590.48% |

Average inflation rate | 1.95% |

Converted amount (£100 base) | £11,690.48 |

Price difference (£100 base) | £11,590.48 |

CPI in 1758 | 6.300 |

CPI in 2004 | 736.500 |

Inflation in 1758 | 0.00% |

Inflation in 2004 | 2.98% |

This chart shows a calculation of buying power equivalence for £100 in 1758 (price index tracking began in 1750).

For example, if you started with £100, you would need to end with £11,690.48 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £100 is equivalent to £11,690.48 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1758 dollars, the chart below shows how £100 is worth less over 246 years.

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1758 amounts in 2004 pounds, based on the 11,590.48% change in prices:

Initial value | Equivalent value |
---|---|

£1 pound in 1758 | £116.90 pounds in 2004 |

£5 pounds in 1758 | £584.52 pounds in 2004 |

£10 pounds in 1758 | £1,169.05 pounds in 2004 |

£50 pounds in 1758 | £5,845.24 pounds in 2004 |

£100 pounds in 1758 | £11,690.48 pounds in 2004 |

£500 pounds in 1758 | £58,452.38 pounds in 2004 |

£1,000 pounds in 1758 | £116,904.76 pounds in 2004 |

£5,000 pounds in 1758 | £584,523.81 pounds in 2004 |

£10,000 pounds in 1758 | £1,169,047.62 pounds in 2004 |

£50,000 pounds in 1758 | £5,845,238.10 pounds in 2004 |

£100,000 pounds in 1758 | £11,690,476.19 pounds in 2004 |

£500,000 pounds in 1758 | £58,452,380.95 pounds in 2004 |

£1,000,000 pounds in 1758 | £116,904,761.90 pounds in 2004 |

Our calculations use the following inflation rate formula to calculate the change in value between 1758 and 2004:

CPI in 2004
CPI in 1758

×

1758 GBP value

=

2004 GBP value

Then plug in historical CPI values. The U.K. CPI was 6.3 in the year 1758 and 736.5 in 2004:

736.56.3

×

£100

=

£100 in 1758 has the same "purchasing power" or "buying power" as £11,690.48 in 2004.

To get the total inflation rate for the 246 years between 1758 and 2004, we use the following formula:

CPI in 2004 - CPI in 1758CPI in 1758

×

100

=

Plugging in the values to this equation, we get:

736.5 - 6.36.3

×

100

=

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: “1758 pounds in 2004 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Jun. 2020, https://www.officialdata.org/1758-GBP-in-2004.

Special thanks to QuickChart for providing downloadable chart images.

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

Cumulative price change | 11,590.48% |

Average inflation rate | 1.95% |

Converted amount (£100 base) | £11,690.48 |

Price difference (£100 base) | £11,590.48 |

CPI in 1758 | 6.300 |

CPI in 2004 | 736.500 |

Inflation in 1758 | 0.00% |

Inflation in 2004 | 2.98% |