£1 in 1839 → £1.02 in 1840

UK Inflation Calculator

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£1 in 1839 → £1.02 in 1840

UK Inflation Rate, £1 in 1839 to 1840

According to the Office for National Statistics composite price index, prices in 1840 are 1.83% higher than average prices throughout 1839. The pound experienced an average inflation rate of 1.83% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1839 is equivalent in purchasing power to about £1.02 in 1840.

The 1839 inflation rate was 6.86%. The inflation rate in 1840 was 1.83%. The 1840 inflation rate is lower compared to the average inflation rate of 2.61% per year between 1840 and 2019.


Inflation from 1839 to 1840
Average inflation rate 1.83%
Converted amount (£1 base) £1.02
Price difference (£1 base) £0.02
CPI in 1839 10.900
CPI in 1840 11.100
Inflation in 1839 6.86%
Inflation in 1840 1.83%

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


How to Calculate Inflation Rate for £1, 1839 to 1840

This inflation calculator uses the following inflation rate formula:

CPI in 1840CPI in 1839
×
1839 GBP value
=
1840 GBP value

Then plug in historical CPI values. The UK CPI was 10.9 in the year 1839 and 11.1 in 1840:

11.110.9
×
£1
=
£1.02

£1 in 1839 has the same "purchasing power" or "buying power" as £1.02 in 1840.

To get the total inflation rate for the 1 years between 1839 and 1840, we use the following formula:

CPI in 1840 - CPI in 1839CPI in 1839
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

11.1 - 10.910.9
×
100
=
2%

News headlines from 1839

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

  • Indian tea arrives in the United Kingdom for the first time.
  • The details of the first photographic process are released by Louis Daguerre.
  • Beginning of the first Opium War in China.

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 1839 → 1840 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Nov. 2019, https://www.officialdata.org/1839-GBP-in-1840?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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


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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Inflation from 1839 to 1840
Average inflation rate 1.83%
Converted amount (£1 base) £1.02
Price difference (£1 base) £0.02
CPI in 1839 10.900
CPI in 1840 11.100
Inflation in 1839 6.86%
Inflation in 1840 1.83%