£1 in 1844 is worth £0.96 in 1844

Value of £1 from 1845 to 1844

According to the Office for National Statistics composite price index, prices in 1844 are 4.3% lower than average prices since 1845. The British pound experienced an average inflation rate of 4.49% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1845 is equivalent in purchasing power to about £0.96 in 1844.

The 1844 inflation rate was 0.00%. 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 1845 to 1844
Average inflation rate 4.49%
Converted amount (£1 base) £0.96
Price difference (£1 base) £-0.04
CPI in 1845 9.300
CPI in 1844 8.900
Inflation in 1844 0.00%
Inflation in 1845 4.49%

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

How to Calculate Inflation Rate for £1, 1844 to 1845

Our calculations use the following inflation rate formula to calculate the change in value between 1844 and 1845:

CPI in 1844 CPI in 1845
×
1845 GBP value
=
1844 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1845 and 8.9 in 1844:

8.99.3
×
£1
=
£0.96

£1 in 1845 has the same "purchasing power" or "buying power" as £0.96 in 1844.

To get the total inflation rate for the 1 years between 1844 and 1845, we use the following formula:

CPI in 1844 - CPI in 1845CPI in 1845
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.9 - 9.39.3
×
100
=
-4%

News headlines from 1844

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

  • Suggestion of aggressive expansion of the United States made by President James K. Polk to Congress, appeal known as Manifest Destiny
  • The Union admits Texas as 28th state.
  • James K. Polk,becomes the United States' 11th President,

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 1845 → 1844 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 31 May. 2020, https://www.officialdata.org/1845-GBP-in-1844?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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Inflation from 1845 to 1844
Average inflation rate 4.49%
Converted amount (£1 base) £0.96
Price difference (£1 base) £-0.04
CPI in 1845 9.300
CPI in 1844 8.900
Inflation in 1844 0.00%
Inflation in 1845 4.49%