# U.K. inflation rate in 1763: 3.64%

£

## Inflation in 1763 and its effect on pound value

Purchasing power decreased by 3.64% in 1763 compared to 1762. On average, you would have to spend 3.64% more money in 1763 than in 1762 for the same item.

In other words, £1 in 1762 is equivalent in purchasing power to about £1.04 in 1763.

The 1762 inflation rate was 3.77%. The inflation rate in 1763 was 3.64%. The 1763 inflation rate is higher compared to the average inflation rate of 2.08% per year between 1763 and 2020.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1763 was 5.70. It was 5.50 in the previous year, 1762. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 3.64% Converted amount (£1 base) £1.04 Price difference (£1 base) £0.04 CPI in 1762 5.500 CPI in 1763 5.700 Inflation in 1762 3.77% Inflation in 1763 3.64%

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

## How to Calculate Inflation Rate for £1, 1762 to 1763

Our calculations use the following inflation rate formula to calculate the change in value between 1762 and 1763:

CPI in 1763 CPI in 1762
×
1762 GBP value
=
1763 GBP value

Then plug in historical CPI values. The U.K. CPI was 5.5 in the year 1762 and 5.7 in 1763:

5.75.5
×
£1
=
£1.04

£1 in 1762 has the same "purchasing power" or "buying power" as £1.04 in 1763.

To get the total inflation rate for the 1 years between 1762 and 1763, we use the following formula:

CPI in 1763 - CPI in 1762CPI in 1762
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

5.7 - 5.55.5
×
100
=
4%

## 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: “Inflation Rate in 1763 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Jun. 2020, https://www.officialdata.org/UK-inflation-rate-in-1763.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

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.

 Average inflation rate 3.64% Converted amount (£1 base) £1.04 Price difference (£1 base) £0.04 CPI in 1762 5.500 CPI in 1763 5.700 Inflation in 1762 3.77% Inflation in 1763 3.64%