# £1 in 1890 is worth £1.01 in 1892

£

## Value of £1 from 1890 to 1892

According to the Office for National Statistics composite price index, prices in 1892 are 1.14% higher than average prices since 1890. The British pound experienced an average inflation rate of 0.57% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1890 is equivalent in purchasing power to about £1.01 in 1892, a difference of £0.01 over 2 years.

The 1890 inflation rate was 0.00%. The inflation rate in 1892 was 0.00%. The 1892 inflation rate is lower compared to the average inflation rate of 3.86% per year between 1892 and 2020.

 Cumulative price change 1.14% Average inflation rate 0.57% Converted amount (£1 base) £1.01 Price difference (£1 base) £0.01 CPI in 1890 8.800 CPI in 1892 8.900 Inflation in 1890 0.00% Inflation in 1892 0.00%

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

## Buying power of £1 in 1890

This chart shows a calculation of buying power equivalence for £1 in 1890 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.01 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.01 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 1890 dollars, the chart below shows how £1 is worth less over 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:

Pound inflation: 1890-1892
Year Pound Value Inflation Rate
1890 £1.00 -
1891 £1.01 1.14%
1892 £1.01 0.00%
1893 £1.00 -1.12%
1894 £0.99 -1.14%
1895 £0.98 -1.15%
1896 £0.97 -1.16%
1897 £0.99 2.35%
1898 £0.99 0.00%
1899 £1.00 1.15%
1900 £1.05 4.55%
1901 £1.05 0.00%
1902 £1.05 0.00%
1903 £1.06 1.09%
1904 £1.06 0.00%
1905 £1.06 0.00%
1906 £1.06 0.00%
1907 £1.07 1.08%
1908 £1.07 0.00%
1909 £1.08 1.06%
1910 £1.09 1.05%
1911 £1.09 0.00%
1912 £1.13 3.13%
1913 £1.11 -1.01%
1914 £1.11 0.00%
1915 £1.25 12.24%
1916 £1.48 18.18%
1917 £1.85 25.38%
1918 £2.26 22.09%
1919 £2.49 10.05%
1920 £2.88 15.53%
1921 £2.63 -8.70%
1922 £2.26 -13.85%
1923 £2.12 -6.03%
1924 £2.11 -0.53%
1925 £2.11 0.00%
1926 £2.10 -0.54%
1927 £2.05 -2.70%
1928 £2.05 0.00%
1929 £2.02 -1.11%
1930 £1.97 -2.81%
1931 £1.89 -4.05%
1932 £1.84 -2.41%
1933 £1.80 -2.47%
1934 £1.80 0.00%
1935 £1.81 0.63%
1936 £1.82 0.63%
1937 £1.89 3.75%
1938 £1.91 1.20%
1939 £1.97 2.98%
1940 £2.30 16.76%
1941 £2.55 10.89%
1942 £2.73 7.14%
1943 £2.82 3.33%
1944 £2.90 2.82%
1945 £2.98 2.75%
1946 £3.07 3.05%
1947 £3.28 7.04%
1948 £3.53 7.61%
1949 £3.64 2.89%
1950 £3.75 3.13%
1951 £4.09 9.09%
1952 £4.47 9.17%
1953 £4.60 3.05%
1954 £4.69 1.98%
1955 £4.90 4.36%
1956 £5.15 5.10%
1957 £5.33 3.53%
1958 £5.50 3.20%
1959 £5.52 0.41%
1960 £5.58 1.03%
1961 £5.77 3.46%
1962 £6.02 4.33%
1963 £6.14 1.89%
1964 £6.34 3.33%
1965 £6.64 4.66%
1966 £6.90 3.94%
1967 £7.08 2.64%
1968 £7.41 4.65%
1969 £7.81 5.37%
1970 £8.31 6.40%
1971 £9.09 9.44%
1972 £9.74 7.13%
1973 £10.63 9.10%
1974 £12.33 16.04%
1975 £15.32 24.24%
1976 £17.85 16.54%
1977 £20.68 15.85%
1978 £22.40 8.30%
1979 £25.40 13.39%
1980 £29.97 17.99%
1981 £33.52 11.87%
1982 £36.41 8.61%
1983 £38.08 4.59%
1984 £39.98 4.98%
1985 £42.41 6.08%
1986 £43.85 3.40%
1987 £45.68 4.17%
1988 £47.92 4.90%
1989 £51.65 7.78%
1990 £56.53 9.46%
1991 £59.85 5.87%
1992 £62.09 3.74%
1993 £63.08 1.59%
1994 £64.60 2.41%
1995 £66.84 3.47%
1996 £68.45 2.41%
1997 £70.60 3.14%
1998 £73.02 3.43%
1999 £74.15 1.54%
2000 £76.34 2.96%
2001 £77.69 1.77%
2002 £78.99 1.67%
2003 £81.27 2.89%
2004 £83.69 2.98%
2005 £86.06 2.82%
2006 £88.81 3.20%
2007 £92.61 4.29%
2008 £96.31 3.99%
2009 £95.80 -0.53%
2010 £100.22 4.61%
2011 £105.43 5.20%
2012 £108.82 3.21%
2013 £112.13 3.04%
2014 £114.77 2.36%
2015 £115.91 0.99%
2016 £117.92 1.74%
2017 £122.15 3.58%
2018 £125.18 2.48%
2019 £127.43 1.80%
2020 £129.35 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1890 amounts in 1892 pounds, based on the 1.14% change in prices:

Conversion Table: Value of a pound in 1892
Initial value Equivalent value
£1 pound in 1890 £1.01 pounds in 1892
£5 pounds in 1890 £5.06 pounds in 1892
£10 pounds in 1890 £10.11 pounds in 1892
£50 pounds in 1890 £50.57 pounds in 1892
£100 pounds in 1890 £101.14 pounds in 1892
£500 pounds in 1890 £505.68 pounds in 1892
£1,000 pounds in 1890 £1,011.36 pounds in 1892
£5,000 pounds in 1890 £5,056.82 pounds in 1892
£10,000 pounds in 1890 £10,113.64 pounds in 1892
£50,000 pounds in 1890 £50,568.18 pounds in 1892
£100,000 pounds in 1890 £101,136.36 pounds in 1892
£500,000 pounds in 1890 £505,681.82 pounds in 1892
£1,000,000 pounds in 1890 £1,011,363.64 pounds in 1892

## How to Calculate Inflation Rate for £1, 1890 to 1892

Our calculations use the following inflation rate formula to calculate the change in value between 1890 and 1892:

CPI in 1892 CPI in 1890
×
1890 GBP value
=
1892 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.8 in the year 1890 and 8.9 in 1892:

8.98.8
×
£1
=
£1.01

£1 in 1890 has the same "purchasing power" or "buying power" as £1.01 in 1892.

To get the total inflation rate for the 2 years between 1890 and 1892, we use the following formula:

CPI in 1892 - CPI in 1890CPI in 1890
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

8.9 - 8.88.8
×
100
=
1%

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

• Alice Sanger becomes the White House’s first female employee.
• The Forth Bridge (Scotland), becomes the longest bridge in Great Britain: it is officially opened by the Prince of Wales (King Edward VII).
• Wilhelm II, the German emperor, removes Chancellor Otto Von Bismarck.
• First electric chair execution is performed on murderer William Kemmler at Auburn Prison in New York.

## 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 1890 → 1892 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 May. 2020, https://www.officialdata.org/1890-GBP-in-1892?amount=1.