£1 in 1842 is worth £0.93 in 1845

Value of £1 from 1842 to 1845

According to the Office for National Statistics composite price index, prices in 1845 are 7% lower than average prices since 1842. The British pound experienced an average deflation rate of -2.39% per year during this period, causing the real value of a pound to increase.

In other words, £1 in 1842 is equivalent in purchasing power to about £0.93 in 1845, a difference of £-0.07 over 3 years.

The 1842 inflation rate was -8.26%. The inflation rate in 1845 was 4.49%. The 1845 inflation rate is higher compared to the average inflation rate of 2.79% per year between 1845 and 2020.


Inflation from 1842 to 1845
Cumulative price change -7.00%
Average inflation rate -2.39%
Converted amount (£1 base) £0.93
Price difference (£1 base) £-0.07
CPI in 1842 10.000
CPI in 1845 9.300
Inflation in 1842 -8.26%
Inflation in 1845 4.49%

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

Buying power of £1 in 1842

This chart shows a calculation of buying power equivalence for £1 in 1842 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £0.93 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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: 1842-1845
Year Pound Value Inflation Rate
1842 £1.00 -8.26%
1843 £0.89 -11.00%
1844 £0.89 0.00%
1845 £0.93 4.49%
1846 £0.97 4.30%
1847 £1.09 12.37%
1848 £0.95 -12.84%
1849 £0.89 -6.32%
1850 £0.84 -5.62%
1851 £0.81 -3.57%
1852 £0.81 0.00%
1853 £0.89 9.88%
1854 £1.02 14.61%
1855 £1.05 2.94%
1856 £1.05 0.00%
1857 £1.00 -4.76%
1858 £0.91 -9.00%
1859 £0.90 -1.10%
1860 £0.93 3.33%
1861 £0.95 2.15%
1862 £0.93 -2.11%
1863 £0.90 -3.23%
1864 £0.89 -1.11%
1865 £0.90 1.12%
1866 £0.95 5.56%
1867 £1.01 6.32%
1868 £1.00 -0.99%
1869 £0.95 -5.00%
1870 £0.95 0.00%
1871 £0.96 1.05%
1872 £1.00 4.17%
1873 £1.04 4.00%
1874 £1.00 -3.85%
1875 £0.98 -2.00%
1876 £0.98 0.00%
1877 £0.97 -1.02%
1878 £0.95 -2.06%
1879 £0.91 -4.21%
1880 £0.94 3.30%
1881 £0.93 -1.06%
1882 £0.94 1.08%
1883 £0.93 -1.06%
1884 £0.91 -2.15%
1885 £0.88 -3.30%
1886 £0.87 -1.14%
1887 £0.86 -1.15%
1888 £0.87 1.16%
1889 £0.88 1.15%
1890 £0.88 0.00%
1891 £0.89 1.14%
1892 £0.89 0.00%
1893 £0.88 -1.12%
1894 £0.87 -1.14%
1895 £0.86 -1.15%
1896 £0.85 -1.16%
1897 £0.87 2.35%
1898 £0.87 0.00%
1899 £0.88 1.15%
1900 £0.92 4.55%
1901 £0.92 0.00%
1902 £0.92 0.00%
1903 £0.93 1.09%
1904 £0.93 0.00%
1905 £0.93 0.00%
1906 £0.93 0.00%
1907 £0.94 1.08%
1908 £0.94 0.00%
1909 £0.95 1.06%
1910 £0.96 1.05%
1911 £0.96 0.00%
1912 £0.99 3.13%
1913 £0.98 -1.01%
1914 £0.98 0.00%
1915 £1.10 12.24%
1916 £1.30 18.18%
1917 £1.63 25.38%
1918 £1.99 22.09%
1919 £2.19 10.05%
1920 £2.53 15.53%
1921 £2.31 -8.70%
1922 £1.99 -13.85%
1923 £1.87 -6.03%
1924 £1.86 -0.53%
1925 £1.86 0.00%
1926 £1.85 -0.54%
1927 £1.80 -2.70%
1928 £1.80 0.00%
1929 £1.78 -1.11%
1930 £1.73 -2.81%
1931 £1.66 -4.05%
1932 £1.62 -2.41%
1933 £1.58 -2.47%
1934 £1.58 0.00%
1935 £1.59 0.63%
1936 £1.60 0.63%
1937 £1.66 3.75%
1938 £1.68 1.20%
1939 £1.73 2.98%
1940 £2.02 16.76%
1941 £2.24 10.89%
1942 £2.40 7.14%
1943 £2.48 3.33%
1944 £2.55 2.82%
1945 £2.62 2.75%
1946 £2.70 3.05%
1947 £2.89 7.04%
1948 £3.11 7.61%
1949 £3.20 2.89%
1950 £3.30 3.13%
1951 £3.60 9.09%
1952 £3.93 9.17%
1953 £4.05 3.05%
1954 £4.13 1.98%
1955 £4.31 4.36%
1956 £4.53 5.10%
1957 £4.69 3.53%
1958 £4.84 3.20%
1959 £4.86 0.41%
1960 £4.91 1.03%
1961 £5.08 3.46%
1962 £5.30 4.33%
1963 £5.40 1.89%
1964 £5.58 3.33%
1965 £5.84 4.66%
1966 £6.07 3.94%
1967 £6.23 2.64%
1968 £6.52 4.65%
1969 £6.87 5.37%
1970 £7.31 6.40%
1971 £8.00 9.44%
1972 £8.57 7.13%
1973 £9.35 9.10%
1974 £10.85 16.04%
1975 £13.48 24.24%
1976 £15.71 16.54%
1977 £18.20 15.85%
1978 £19.71 8.30%
1979 £22.35 13.39%
1980 £26.37 17.99%
1981 £29.50 11.87%
1982 £32.04 8.61%
1983 £33.51 4.59%
1984 £35.18 4.98%
1985 £37.32 6.08%
1986 £38.59 3.40%
1987 £40.20 4.17%
1988 £42.17 4.90%
1989 £45.45 7.78%
1990 £49.75 9.46%
1991 £52.67 5.87%
1992 £54.64 3.74%
1993 £55.51 1.59%
1994 £56.85 2.41%
1995 £58.82 3.47%
1996 £60.24 2.41%
1997 £62.13 3.14%
1998 £64.26 3.43%
1999 £65.25 1.54%
2000 £67.18 2.96%
2001 £68.37 1.77%
2002 £69.51 1.67%
2003 £71.52 2.89%
2004 £73.65 2.98%
2005 £75.73 2.82%
2006 £78.15 3.20%
2007 £81.50 4.29%
2008 £84.75 3.99%
2009 £84.30 -0.53%
2010 £88.19 4.61%
2011 £92.78 5.20%
2012 £95.76 3.21%
2013 £98.67 3.04%
2014 £101.00 2.36%
2015 £102.00 0.99%
2016 £103.77 1.74%
2017 £107.49 3.58%
2018 £110.16 2.48%
2019 £112.14 1.80%
2020 £113.82 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1842 amounts in 1845 pounds, based on the -7.00% change in prices:

Conversion Table: Value of a pound in 1845
Initial value Equivalent value
£1 pound in 1842 £0.93 pounds in 1845
£5 pounds in 1842 £4.65 pounds in 1845
£10 pounds in 1842 £9.30 pounds in 1845
£50 pounds in 1842 £46.50 pounds in 1845
£100 pounds in 1842 £93.00 pounds in 1845
£500 pounds in 1842 £465.00 pounds in 1845
£1,000 pounds in 1842 £930.00 pounds in 1845
£5,000 pounds in 1842 £4,650.00 pounds in 1845
£10,000 pounds in 1842 £9,300.00 pounds in 1845
£50,000 pounds in 1842 £46,500.00 pounds in 1845
£100,000 pounds in 1842 £93,000.00 pounds in 1845
£500,000 pounds in 1842 £465,000.00 pounds in 1845
£1,000,000 pounds in 1842 £930,000.00 pounds in 1845

How to Calculate Inflation Rate for £1, 1842 to 1845

Our calculations use the following inflation rate formula to calculate the change in value between 1842 and 1845:

CPI in 1845 CPI in 1842
×
1842 GBP value
=
1845 GBP value

Then plug in historical CPI values. The U.K. CPI was 10 in the year 1842 and 9.3 in 1845:

9.310
×
£1
=
£0.93

£1 in 1842 has the same "purchasing power" or "buying power" as £0.93 in 1845.

To get the total inflation rate for the 3 years between 1842 and 1845, we use the following formula:

CPI in 1845 - CPI in 1842CPI in 1842
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

9.3 - 1010
×
100
=
-7%

News headlines from 1842

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

  • A British surgeon, Dr William Brydon, became famous for being the only survivor of an entire army, 16,500 men strong, during the first Afghan War.
  • Regent of the Emperor of Ethiopia, Ras Ali Alula defeats Wube Haile Maryam of Semien in the Debre Tabor Battle
  • America Declares the Second Seminole War against Indians, which was to remove them from Florida and Oklahoma.
  • The Opium War ends after,Great Britain and China,sign the treaty of Nanking.

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 1842 → 1845 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Jun. 2020, https://www.officialdata.org/1842-GBP-in-1845?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 1842 to 1845
Cumulative price change -7.00%
Average inflation rate -2.39%
Converted amount (£1 base) £0.93
Price difference (£1 base) £-0.07
CPI in 1842 10.000
CPI in 1845 9.300
Inflation in 1842 -8.26%
Inflation in 1845 4.49%