# £1 in 1789 is worth £0.99 in 1789

£

## Value of £1 from 1790 to 1789

According to the Office for National Statistics composite price index, prices in 1789 are 1.33% lower than average prices since 1790. The British pound experienced an average inflation rate of 1.35% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1790 is equivalent in purchasing power to about £0.99 in 1789.

The 1789 inflation rate was -1.33%. The inflation rate in 1790 was 1.35%. The 1790 inflation rate is lower compared to the average inflation rate of 2.21% per year between 1790 and 2020.

 Average inflation rate 1.35% Converted amount (£1 base) £0.99 Price difference (£1 base) £-0.01 CPI in 1790 7.500 CPI in 1789 7.400 Inflation in 1789 -1.33% Inflation in 1790 1.35%

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI

## How to Calculate Inflation Rate for £1, 1789 to 1790

Our calculations use the following inflation rate formula to calculate the change in value between 1789 and 1790:

CPI in 1789 CPI in 1790
×
1790 GBP value
=
1789 GBP value

Then plug in historical CPI values. The U.K. CPI was 7.5 in the year 1790 and 7.4 in 1789:

7.47.5
×
£1
=
£0.99

£1 in 1790 has the same "purchasing power" or "buying power" as £0.99 in 1789.

To get the total inflation rate for the 1 years between 1789 and 1790, we use the following formula:

CPI in 1789 - CPI in 1790CPI in 1790
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.4 - 7.57.5
×
100
=
-1%

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

• George Washington, delivers his first State of the Union address as president.
• The Swedish navy capture a third of the Russian fleet in the Second Battle of Svensksund.
• Columbia Rediviva, returns to Boston, having become the first American ship to circumnavigate the world.
• Turkish fortress of Izmail, thought to be impenetrable, is captured by the Russians under the command of Suvorov.

## 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: “£1 in 1790 → 1789 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 May. 2020, https://www.officialdata.org/1790-GBP-in-1789?amount=1.