£1 in 1860 is worth £111.58 in 2016

👉 You may be interested in £1 in 1860 → 2020

Value of £1 from 1860 to 2016

According to the Office for National Statistics composite price index, prices in 2016 are 11,058.06% higher than average prices since 1860. The British pound experienced an average inflation rate of 3.07% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1860 is equivalent in purchasing power to about £111.58 in 2016, a difference of £110.58 over 156 years.

The 1860 inflation rate was 3.33%. The inflation rate in 2016 was 1.74%. The 2016 inflation rate is lower compared to the average inflation rate of 2.34% per year between 2016 and 2020.


Inflation from 1860 to 2016
Cumulative price change 11,058.06%
Average inflation rate 3.07%
Converted amount (£1 base) £111.58
Price difference (£1 base) £110.58
CPI in 1860 9.300
CPI in 2016 1,037.700
Inflation in 1860 3.33%
Inflation in 2016 1.74%

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

Buying power of £1 in 1860

This chart shows a calculation of buying power equivalence for £1 in 1860 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £111.58 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £111.58 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 1860 dollars, the chart below shows how £1 is worth less over 156 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: 1860-2016
Year Pound Value Inflation Rate
1860 £1.00 3.33%
1861 £1.02 2.15%
1862 £1.00 -2.11%
1863 £0.97 -3.23%
1864 £0.96 -1.11%
1865 £0.97 1.12%
1866 £1.02 5.56%
1867 £1.09 6.32%
1868 £1.08 -0.99%
1869 £1.02 -5.00%
1870 £1.02 0.00%
1871 £1.03 1.05%
1872 £1.08 4.17%
1873 £1.12 4.00%
1874 £1.08 -3.85%
1875 £1.05 -2.00%
1876 £1.05 0.00%
1877 £1.04 -1.02%
1878 £1.02 -2.06%
1879 £0.98 -4.21%
1880 £1.01 3.30%
1881 £1.00 -1.06%
1882 £1.01 1.08%
1883 £1.00 -1.06%
1884 £0.98 -2.15%
1885 £0.95 -3.30%
1886 £0.94 -1.14%
1887 £0.92 -1.15%
1888 £0.94 1.16%
1889 £0.95 1.15%
1890 £0.95 0.00%
1891 £0.96 1.14%
1892 £0.96 0.00%
1893 £0.95 -1.12%
1894 £0.94 -1.14%
1895 £0.92 -1.15%
1896 £0.91 -1.16%
1897 £0.94 2.35%
1898 £0.94 0.00%
1899 £0.95 1.15%
1900 £0.99 4.55%
1901 £0.99 0.00%
1902 £0.99 0.00%
1903 £1.00 1.09%
1904 £1.00 0.00%
1905 £1.00 0.00%
1906 £1.00 0.00%
1907 £1.01 1.08%
1908 £1.01 0.00%
1909 £1.02 1.06%
1910 £1.03 1.05%
1911 £1.03 0.00%
1912 £1.06 3.13%
1913 £1.05 -1.01%
1914 £1.05 0.00%
1915 £1.18 12.24%
1916 £1.40 18.18%
1917 £1.75 25.38%
1918 £2.14 22.09%
1919 £2.35 10.05%
1920 £2.72 15.53%
1921 £2.48 -8.70%
1922 £2.14 -13.85%
1923 £2.01 -6.03%
1924 £2.00 -0.53%
1925 £2.00 0.00%
1926 £1.99 -0.54%
1927 £1.94 -2.70%
1928 £1.94 0.00%
1929 £1.91 -1.11%
1930 £1.86 -2.81%
1931 £1.78 -4.05%
1932 £1.74 -2.41%
1933 £1.70 -2.47%
1934 £1.70 0.00%
1935 £1.71 0.63%
1936 £1.72 0.63%
1937 £1.78 3.75%
1938 £1.81 1.20%
1939 £1.86 2.98%
1940 £2.17 16.76%
1941 £2.41 10.89%
1942 £2.58 7.14%
1943 £2.67 3.33%
1944 £2.74 2.82%
1945 £2.82 2.75%
1946 £2.90 3.05%
1947 £3.11 7.04%
1948 £3.34 7.61%
1949 £3.44 2.89%
1950 £3.55 3.13%
1951 £3.87 9.09%
1952 £4.23 9.17%
1953 £4.35 3.05%
1954 £4.44 1.98%
1955 £4.63 4.36%
1956 £4.87 5.10%
1957 £5.04 3.53%
1958 £5.20 3.20%
1959 £5.23 0.41%
1960 £5.28 1.03%
1961 £5.46 3.46%
1962 £5.70 4.33%
1963 £5.81 1.89%
1964 £6.00 3.33%
1965 £6.28 4.66%
1966 £6.53 3.94%
1967 £6.70 2.64%
1968 £7.01 4.65%
1969 £7.39 5.37%
1970 £7.86 6.40%
1971 £8.60 9.44%
1972 £9.22 7.13%
1973 £10.05 9.10%
1974 £11.67 16.04%
1975 £14.49 24.24%
1976 £16.89 16.54%
1977 £19.57 15.85%
1978 £21.19 8.30%
1979 £24.03 13.39%
1980 £28.35 17.99%
1981 £31.72 11.87%
1982 £34.45 8.61%
1983 £36.03 4.59%
1984 £37.83 4.98%
1985 £40.13 6.08%
1986 £41.49 3.40%
1987 £43.23 4.17%
1988 £45.34 4.90%
1989 £48.87 7.78%
1990 £53.49 9.46%
1991 £56.63 5.87%
1992 £58.75 3.74%
1993 £59.69 1.59%
1994 £61.13 2.41%
1995 £63.25 3.47%
1996 £64.77 2.41%
1997 £66.81 3.14%
1998 £69.10 3.43%
1999 £70.16 1.54%
2000 £72.24 2.96%
2001 £73.52 1.77%
2002 £74.74 1.67%
2003 £76.90 2.89%
2004 £79.19 2.98%
2005 £81.43 2.82%
2006 £84.03 3.20%
2007 £87.63 4.29%
2008 £91.13 3.99%
2009 £90.65 -0.53%
2010 £94.83 4.61%
2011 £99.76 5.20%
2012 £102.97 3.21%
2013 £106.10 3.04%
2014 £108.60 2.36%
2015 £109.68 0.99%
2016 £111.58 1.74%
2017 £115.58 3.58%
2018 £118.45 2.48%
2019 £120.58 1.80%
2020 £122.39 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 150 more rows

This conversion table shows various other 1860 amounts in 2016 pounds, based on the 11,058.06% change in prices:

Conversion Table: Value of a pound in 2016
Initial value Equivalent value
£1 pound in 1860 £111.58 pounds in 2016
£5 pounds in 1860 £557.90 pounds in 2016
£10 pounds in 1860 £1,115.81 pounds in 2016
£50 pounds in 1860 £5,579.03 pounds in 2016
£100 pounds in 1860 £11,158.06 pounds in 2016
£500 pounds in 1860 £55,790.32 pounds in 2016
£1,000 pounds in 1860 £111,580.65 pounds in 2016
£5,000 pounds in 1860 £557,903.23 pounds in 2016
£10,000 pounds in 1860 £1,115,806.45 pounds in 2016
£50,000 pounds in 1860 £5,579,032.26 pounds in 2016
£100,000 pounds in 1860 £11,158,064.52 pounds in 2016
£500,000 pounds in 1860 £55,790,322.58 pounds in 2016
£1,000,000 pounds in 1860 £111,580,645.16 pounds in 2016

How to Calculate Inflation Rate for £1, 1860 to 2016

Our calculations use the following inflation rate formula to calculate the change in value between 1860 and 2016:

CPI in 2016 CPI in 1860
×
1860 GBP value
=
2016 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1860 and 1037.7 in 2016:

1037.79.3
×
£1
=
£111.58

£1 in 1860 has the same "purchasing power" or "buying power" as £111.58 in 2016.

To get the total inflation rate for the 156 years between 1860 and 2016, we use the following formula:

CPI in 2016 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (156 years)

Plugging in the values to this equation, we get:

1037.7 - 9.39.3
×
100
=
11,058%

News headlines from 1860

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

  • Abraham Lincoln becomes the 16th President of the U.S.
  • Slavery ends in the Dutch East Indies.

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 1860 → 2016 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Jun. 2020, https://www.officialdata.org/1860-GBP-in-2016?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.

Email · LinkedIn · Twitter


» Read more about inflation and investment.

Inflation from 1860 to 2016
Cumulative price change 11,058.06%
Average inflation rate 3.07%
Converted amount (£1 base) £111.58
Price difference (£1 base) £110.58
CPI in 1860 9.300
CPI in 2016 1,037.700
Inflation in 1860 3.33%
Inflation in 2016 1.74%