# U.K. inflation rate in 1766: 1.56%

## UK Inflation Calculator

£

### Inflation in 1766 and Its Effect on Pound Value

Purchasing power decreased by 1.56% in 1766 compared to 1765. On average, you would have to spend 1.56% more money in 1766 than in 1765 for the same item.

In other words, £1 in 1765 is equivalent in purchasing power to about £1.02 in 1766.

The 1765 inflation rate was 3.23%. The inflation rate in 1766 was 1.56%. The 1766 inflation rate is lower compared to the average inflation rate of 2.05% per year between 1766 and 2020.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1766 was 6.50. It was 6.40 in the previous year, 1765. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 1.56% Converted amount (£1 base) £1.02 Price difference (£1 base) £0.02 CPI in 1765 6.400 CPI in 1766 6.500 Inflation in 1765 3.23% Inflation in 1766 1.56%

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

### How to Calculate Inflation Rate for £1, 1765 to 1766

This inflation calculator uses the following inflation rate formula:

CPI in 1766CPI in 1765
×
1765 GBP value
=
1766 GBP value

Then plug in historical CPI values. The U.K. CPI was 6.4 in the year 1765 and 6.5 in 1766:

6.56.4
×
£1
=
£1.02

£1 in 1765 has the same "purchasing power" or "buying power" as £1.02 in 1766.

To get the total inflation rate for the 1 years between 1765 and 1766, we use the following formula:

CPI in 1766 - CPI in 1765CPI in 1765
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

6.5 - 6.46.4
×
100
=
2%

### 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 1766 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 8 Apr. 2020, https://www.officialdata.org/UK-inflation-rate-in-1766.