£1 in 1790 is worth £1.04 in 1793

Value of £1 from 1790 to 1793

According to the Office for National Statistics composite price index, prices in 1793 are 4.00% higher than average prices since 1790. The British pound experienced an average inflation rate of 1.32% 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 £1.04 in 1793, a difference of £0.04 over 3 years.

The 1790 inflation rate was 1.35%. The inflation rate in 1793 was 2.63%. The 1793 inflation rate is higher compared to the average inflation rate of 2.22% per year between 1793 and 2020.


Inflation from 1790 to 1793
Cumulative price change 4.00%
Average inflation rate 1.32%
Converted amount (£1 base) £1.04
Price difference (£1 base) £0.04
CPI in 1790 7.500
CPI in 1793 7.800
Inflation in 1790 1.35%
Inflation in 1793 2.63%

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

Buying power of £1 in 1790

This chart shows a calculation of buying power equivalence for £1 in 1790 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.04 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.04 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 1790 dollars, the chart below shows how £1 is worth less over 3 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:

Pound inflation: 1790-1793
Year Pound Value Inflation Rate
1790 £1.00 1.35%
1791 £1.00 0.00%
1792 £1.01 1.33%
1793 £1.04 2.63%
1794 £1.13 8.97%
1795 £1.25 10.59%
1796 £1.33 6.38%
1797 £1.20 -10.00%
1798 £1.17 -2.22%
1799 £1.32 12.50%
1800 £1.80 36.36%
1801 £2.01 11.85%
1802 £1.55 -23.18%
1803 £1.47 -5.17%
1804 £1.51 2.73%
1805 £1.75 15.93%
1806 £1.68 -3.82%
1807 £1.64 -2.38%
1808 £1.71 4.07%
1809 £1.87 9.37%
1810 £1.92 2.86%
1811 £1.87 -2.78%
1812 £2.12 13.57%
1813 £2.17 2.52%
1814 £1.89 -12.88%
1815 £1.69 -10.56%
1816 £1.55 -8.66%
1817 £1.76 13.79%
1818 £1.76 0.00%
1819 £1.72 -2.27%
1820 £1.56 -9.30%
1821 £1.37 -11.97%
1822 £1.19 -13.59%
1823 £1.27 6.74%
1824 £1.37 8.42%
1825 £1.61 17.48%
1826 £1.52 -5.79%
1827 £1.43 -6.14%
1828 £1.39 -2.80%
1829 £1.37 -0.96%
1830 £1.32 -3.88%
1831 £1.45 10.10%
1832 £1.35 -7.34%
1833 £1.27 -5.94%
1834 £1.16 -8.42%
1835 £1.19 2.30%
1836 £1.32 11.24%
1837 £1.35 2.02%
1838 £1.36 0.99%
1839 £1.45 6.86%
1840 £1.48 1.83%
1841 £1.45 -1.80%
1842 £1.33 -8.26%
1843 £1.19 -11.00%
1844 £1.19 0.00%
1845 £1.24 4.49%
1846 £1.29 4.30%
1847 £1.45 12.37%
1848 £1.27 -12.84%
1849 £1.19 -6.32%
1850 £1.12 -5.62%
1851 £1.08 -3.57%
1852 £1.08 0.00%
1853 £1.19 9.88%
1854 £1.36 14.61%
1855 £1.40 2.94%
1856 £1.40 0.00%
1857 £1.33 -4.76%
1858 £1.21 -9.00%
1859 £1.20 -1.10%
1860 £1.24 3.33%
1861 £1.27 2.15%
1862 £1.24 -2.11%
1863 £1.20 -3.23%
1864 £1.19 -1.11%
1865 £1.20 1.12%
1866 £1.27 5.56%
1867 £1.35 6.32%
1868 £1.33 -0.99%
1869 £1.27 -5.00%
1870 £1.27 0.00%
1871 £1.28 1.05%
1872 £1.33 4.17%
1873 £1.39 4.00%
1874 £1.33 -3.85%
1875 £1.31 -2.00%
1876 £1.31 0.00%
1877 £1.29 -1.02%
1878 £1.27 -2.06%
1879 £1.21 -4.21%
1880 £1.25 3.30%
1881 £1.24 -1.06%
1882 £1.25 1.08%
1883 £1.24 -1.06%
1884 £1.21 -2.15%
1885 £1.17 -3.30%
1886 £1.16 -1.14%
1887 £1.15 -1.15%
1888 £1.16 1.16%
1889 £1.17 1.15%
1890 £1.17 0.00%
1891 £1.19 1.14%
1892 £1.19 0.00%
1893 £1.17 -1.12%
1894 £1.16 -1.14%
1895 £1.15 -1.15%
1896 £1.13 -1.16%
1897 £1.16 2.35%
1898 £1.16 0.00%
1899 £1.17 1.15%
1900 £1.23 4.55%
1901 £1.23 0.00%
1902 £1.23 0.00%
1903 £1.24 1.09%
1904 £1.24 0.00%
1905 £1.24 0.00%
1906 £1.24 0.00%
1907 £1.25 1.08%
1908 £1.25 0.00%
1909 £1.27 1.06%
1910 £1.28 1.05%
1911 £1.28 0.00%
1912 £1.32 3.13%
1913 £1.31 -1.01%
1914 £1.31 0.00%
1915 £1.47 12.24%
1916 £1.73 18.18%
1917 £2.17 25.38%
1918 £2.65 22.09%
1919 £2.92 10.05%
1920 £3.37 15.53%
1921 £3.08 -8.70%
1922 £2.65 -13.85%
1923 £2.49 -6.03%
1924 £2.48 -0.53%
1925 £2.48 0.00%
1926 £2.47 -0.54%
1927 £2.40 -2.70%
1928 £2.40 0.00%
1929 £2.37 -1.11%
1930 £2.31 -2.81%
1931 £2.21 -4.05%
1932 £2.16 -2.41%
1933 £2.11 -2.47%
1934 £2.11 0.00%
1935 £2.12 0.63%
1936 £2.13 0.63%
1937 £2.21 3.75%
1938 £2.24 1.20%
1939 £2.31 2.98%
1940 £2.69 16.76%
1941 £2.99 10.89%
1942 £3.20 7.14%
1943 £3.31 3.33%
1944 £3.40 2.82%
1945 £3.49 2.75%
1946 £3.60 3.05%
1947 £3.85 7.04%
1948 £4.15 7.61%
1949 £4.27 2.89%
1950 £4.40 3.13%
1951 £4.80 9.09%
1952 £5.24 9.17%
1953 £5.40 3.05%
1954 £5.51 1.98%
1955 £5.75 4.36%
1956 £6.04 5.10%
1957 £6.25 3.53%
1958 £6.45 3.20%
1959 £6.48 0.41%
1960 £6.55 1.03%
1961 £6.77 3.46%
1962 £7.07 4.33%
1963 £7.20 1.89%
1964 £7.44 3.33%
1965 £7.79 4.66%
1966 £8.09 3.94%
1967 £8.31 2.64%
1968 £8.69 4.65%
1969 £9.16 5.37%
1970 £9.75 6.40%
1971 £10.67 9.44%
1972 £11.43 7.13%
1973 £12.47 9.10%
1974 £14.47 16.04%
1975 £17.97 24.24%
1976 £20.95 16.54%
1977 £24.27 15.85%
1978 £26.28 8.30%
1979 £29.80 13.39%
1980 £35.16 17.99%
1981 £39.33 11.87%
1982 £42.72 8.61%
1983 £44.68 4.59%
1984 £46.91 4.98%
1985 £49.76 6.08%
1986 £51.45 3.40%
1987 £53.60 4.17%
1988 £56.23 4.90%
1989 £60.60 7.78%
1990 £66.33 9.46%
1991 £70.23 5.87%
1992 £72.85 3.74%
1993 £74.01 1.59%
1994 £75.80 2.41%
1995 £78.43 3.47%
1996 £80.32 2.41%
1997 £82.84 3.14%
1998 £85.68 3.43%
1999 £87.00 1.54%
2000 £89.57 2.96%
2001 £91.16 1.77%
2002 £92.68 1.67%
2003 £95.36 2.89%
2004 £98.20 2.98%
2005 £100.97 2.82%
2006 £104.20 3.20%
2007 £108.67 4.29%
2008 £113.00 3.99%
2009 £112.40 -0.53%
2010 £117.59 4.61%
2011 £123.71 5.20%
2012 £127.68 3.21%
2013 £131.56 3.04%
2014 £134.67 2.36%
2015 £136.00 0.99%
2016 £138.36 1.74%
2017 £143.32 3.58%
2018 £146.88 2.48%
2019 £149.52 1.80%
2020 £151.77 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1790 amounts in 1793 pounds, based on the 4.00% change in prices:

Conversion Table: Value of a pound in 1793
Initial value Equivalent value
£1 pound in 1790 £1.04 pounds in 1793
£5 pounds in 1790 £5.20 pounds in 1793
£10 pounds in 1790 £10.40 pounds in 1793
£50 pounds in 1790 £52.00 pounds in 1793
£100 pounds in 1790 £104.00 pounds in 1793
£500 pounds in 1790 £520.00 pounds in 1793
£1,000 pounds in 1790 £1,040.00 pounds in 1793
£5,000 pounds in 1790 £5,200.00 pounds in 1793
£10,000 pounds in 1790 £10,400.00 pounds in 1793
£50,000 pounds in 1790 £52,000.00 pounds in 1793
£100,000 pounds in 1790 £104,000.00 pounds in 1793
£500,000 pounds in 1790 £520,000.00 pounds in 1793
£1,000,000 pounds in 1790 £1,040,000.00 pounds in 1793

How to Calculate Inflation Rate for £1, 1790 to 1793

Our calculations use the following inflation rate formula to calculate the change in value between 1790 and 1793:

CPI in 1793 CPI in 1790
×
1790 GBP value
=
1793 GBP value

Then plug in historical CPI values. The U.K. CPI was 7.5 in the year 1790 and 7.8 in 1793:

7.87.5
×
£1
=
£1.04

£1 in 1790 has the same "purchasing power" or "buying power" as £1.04 in 1793.

To get the total inflation rate for the 3 years between 1790 and 1793, we use the following formula:

CPI in 1793 - CPI in 1790CPI in 1790
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

7.8 - 7.57.5
×
100
=
4%

News headlines from 1790

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 → 1793 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 May. 2020, https://www.officialdata.org/1790-GBP-in-1793?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1790 to 1793
Cumulative price change 4.00%
Average inflation rate 1.32%
Converted amount (£1 base) £1.04
Price difference (£1 base) £0.04
CPI in 1790 7.500
CPI in 1793 7.800
Inflation in 1790 1.35%
Inflation in 1793 2.63%