£

£1 in 1865 → £1.12 in 1867

U.K. Inflation Rate, £1 in 1865 to 1867

According to the Office for National Statistics composite price index, prices in 1867 are 12.22% higher than average prices since 1865. The British pound experienced an average inflation rate of 5.93% per year during this period, meaning the real value of a pound decreased.

In other words, £1 in 1865 is equivalent in purchasing power to about £1.12 in 1867, a difference of £0.12 over 2 years.

The 1865 inflation rate was 1.12%. The inflation rate in 1867 was 6.32%. The 1867 inflation rate is higher compared to the average inflation rate of 3.14% per year between 1867 and 2020.

 Cumulative price change 12.22% Average inflation rate 5.93% Converted amount (£1 base) £1.12 Price difference (£1 base) £0.12 CPI in 1865 9.000 CPI in 1867 10.100 Inflation in 1865 1.12% Inflation in 1867 6.32%

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

Buying power of £1 in 1865

This chart shows a calculation of buying power equivalence for £1 in 1865 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.12 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.12 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 1865 dollars, the chart below shows how £1 buys less over the past 2 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:

Year Pound Value Inflation Rate
1865 £1.00 1.12%
1866 £1.06 5.56%
1867 £1.12 6.32%
1868 £1.11 -0.99%
1869 £1.06 -5.00%
1870 £1.06 0.00%
1871 £1.07 1.05%
1872 £1.11 4.17%
1873 £1.16 4.00%
1874 £1.11 -3.85%
1875 £1.09 -2.00%
1876 £1.09 0.00%
1877 £1.08 -1.02%
1878 £1.06 -2.06%
1879 £1.01 -4.21%
1880 £1.04 3.30%
1881 £1.03 -1.06%
1882 £1.04 1.08%
1883 £1.03 -1.06%
1884 £1.01 -2.15%
1885 £0.98 -3.30%
1886 £0.97 -1.14%
1887 £0.96 -1.15%
1888 £0.97 1.16%
1889 £0.98 1.15%
1890 £0.98 0.00%
1891 £0.99 1.14%
1892 £0.99 0.00%
1893 £0.98 -1.12%
1894 £0.97 -1.14%
1895 £0.96 -1.15%
1896 £0.94 -1.16%
1897 £0.97 2.35%
1898 £0.97 0.00%
1899 £0.98 1.15%
1900 £1.02 4.55%
1901 £1.02 0.00%
1902 £1.02 0.00%
1903 £1.03 1.09%
1904 £1.03 0.00%
1905 £1.03 0.00%
1906 £1.03 0.00%
1907 £1.04 1.08%
1908 £1.04 0.00%
1909 £1.06 1.06%
1910 £1.07 1.05%
1911 £1.07 0.00%
1912 £1.10 3.13%
1913 £1.09 -1.01%
1914 £1.09 0.00%
1915 £1.22 12.24%
1916 £1.44 18.18%
1917 £1.81 25.38%
1918 £2.21 22.09%
1919 £2.43 10.05%
1920 £2.81 15.53%
1921 £2.57 -8.70%
1922 £2.21 -13.85%
1923 £2.08 -6.03%
1924 £2.07 -0.53%
1925 £2.07 0.00%
1926 £2.06 -0.54%
1927 £2.00 -2.70%
1928 £2.00 0.00%
1929 £1.98 -1.11%
1930 £1.92 -2.81%
1931 £1.84 -4.05%
1932 £1.80 -2.41%
1933 £1.76 -2.47%
1934 £1.76 0.00%
1935 £1.77 0.63%
1936 £1.78 0.63%
1937 £1.84 3.75%
1938 £1.87 1.20%
1939 £1.92 2.98%
1940 £2.24 16.76%
1941 £2.49 10.89%
1942 £2.67 7.14%
1943 £2.76 3.33%
1944 £2.83 2.82%
1945 £2.91 2.75%
1946 £3.00 3.05%
1947 £3.21 7.04%
1948 £3.46 7.61%
1949 £3.56 2.89%
1950 £3.67 3.13%
1951 £4.00 9.09%
1952 £4.37 9.17%
1953 £4.50 3.05%
1954 £4.59 1.98%
1955 £4.79 4.36%
1956 £5.03 5.10%
1957 £5.21 3.53%
1958 £5.38 3.20%
1959 £5.40 0.41%
1960 £5.46 1.03%
1961 £5.64 3.46%
1962 £5.89 4.33%
1963 £6.00 1.89%
1964 £6.20 3.33%
1965 £6.49 4.66%
1966 £6.74 3.94%
1967 £6.92 2.64%
1968 £7.24 4.65%
1969 £7.63 5.37%
1970 £8.12 6.40%
1971 £8.89 9.44%
1972 £9.52 7.13%
1973 £10.39 9.10%
1974 £12.06 16.04%
1975 £14.98 24.24%
1976 £17.46 16.54%
1977 £20.22 15.85%
1978 £21.90 8.30%
1979 £24.83 13.39%
1980 £29.30 17.99%
1981 £32.78 11.87%
1982 £35.60 8.61%
1983 £37.23 4.59%
1984 £39.09 4.98%
1985 £41.47 6.08%
1986 £42.88 3.40%
1987 £44.67 4.17%
1988 £46.86 4.90%
1989 £50.50 7.78%
1990 £55.28 9.46%
1991 £58.52 5.87%
1992 £60.71 3.74%
1993 £61.68 1.59%
1994 £63.17 2.41%
1995 £65.36 3.47%
1996 £66.93 2.41%
1997 £69.03 3.14%
1998 £71.40 3.43%
1999 £72.50 1.54%
2000 £74.64 2.96%
2001 £75.97 1.77%
2002 £77.23 1.67%
2003 £79.47 2.89%
2004 £81.83 2.98%
2005 £84.14 2.82%
2006 £86.83 3.20%
2007 £90.56 4.29%
2008 £94.17 3.99%
2009 £93.67 -0.53%
2010 £97.99 4.61%
2011 £103.09 5.20%
2012 £106.40 3.21%
2013 £109.63 3.04%
2014 £112.22 2.36%
2015 £113.33 0.99%
2016 £115.30 1.74%
2017 £119.43 3.58%
2018 £122.40 2.48%
2019 £124.60 1.80%
2020 £126.47 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £1, 1865 to 1867

This inflation calculator uses the following inflation rate formula:

CPI in 1867CPI in 1865
×
1865 GBP value
=
1867 GBP value

Then plug in historical CPI values. The U.K. CPI was 9 in the year 1865 and 10.1 in 1867:

10.19
×
£1
=
£1.12

£1 in 1865 has the same "purchasing power" or "buying power" as £1.12 in 1867.

To get the total inflation rate for the 2 years between 1865 and 1867, we use the following formula:

CPI in 1867 - CPI in 1865CPI in 1865
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

10.1 - 99
×
100
=
12%

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

• America abolishes slavery after Congress passes the 13th Amendment.
• John Wilkes Booth assassinates President Abraham Lincoln at Ford's Theater, in Washington.
• The New York Stock Exchange opens its first permanent headquarters at 10-12 Broad Street.
• Columbia, South Carolina burns during the American Civil War.

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 1865 → 1867 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Jan. 2020, https://www.officialdata.org/1865-GBP-in-1867?amount=1.