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# U.K. inflation rate in 1780: -3.08%

### Inflation in 1780 and Its Effect on Pound Value

Purchasing power increased by 3.08% in 1780 compared to 1779. On average, you would have to spend 3.08% less money in 1780 than in 1779 for the same item. This is an example of deflation.

In other words, £1 in 1779 is equivalent in purchasing power to about £0.97 in 1780.

The 1779 inflation rate was -8.45%. The inflation rate in 1780 was -3.08%. The 1780 inflation rate is lower compared to the average inflation rate of 2.19% per year between 1780 and 2020.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1780 was 6.30. It was 6.50 in the previous year, 1779. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1780 CPI is less than 1779 CPI, negative inflation (also known as deflation) has occurred.

 Average inflation rate -3.08% Converted amount (£1 base) £0.97 Price difference (£1 base) £-0.03 CPI in 1779 6.500 CPI in 1780 6.300 Inflation in 1779 -8.45% Inflation in 1780 -3.08%

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

### How to Calculate Inflation Rate for £1, 1779 to 1780

This inflation calculator uses the following inflation rate formula:

CPI in 1780CPI in 1779
×
1779 GBP value
=
1780 GBP value

Then plug in historical CPI values. The U.K. CPI was 6.5 in the year 1779 and 6.3 in 1780:

6.36.5
×
£1
=
£0.97

£1 in 1779 has the same "purchasing power" or "buying power" as £0.97 in 1780.

To get the total inflation rate for the 1 years between 1779 and 1780, we use the following formula:

CPI in 1780 - CPI in 1779CPI in 1779
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

6.3 - 6.56.5
×
100
=
-3%

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

• United States establishes the Army Corps of Engineers
• Captain James Cook makes the last notation in the Discovery ship's log book.
• Ching-Thang Khomba becomes King of Manipur after coronation.

### 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 1780 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 26 Jan. 2020, https://www.officialdata.org/UK-inflation-rate-in-1780.