£1 in 1789 is equivalent in purchasing power to about £1.01 in 1790. The pound had an average inflation rate of 1.35% per year between 1789 and 1790, producing a cumulative price increase of 1.35%. Purchasing power decreased by 1.35% in 1790 compared to 1789. On average, you would have to spend 1.35% more money in 1790 than in 1789 for the same item.

This means that prices in 1790 are 1.01 times higher than average prices since 1789, according to the Office for National Statistics composite price index.

The 1789 inflation rate was -1.33%. The inflation rate in 1790 was 1.35%. The 1790 inflation rate is lower compared to the average inflation rate of 2.21% per year between 1790 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1790 was 7.50. It was 7.40 in the previous year, 1789. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 1.35% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1789 | 7.400 |

CPI in 1790 | 7.500 |

Inflation in 1789 | -1.33% |

Inflation in 1790 | 1.35% |

£1 in 1789 | £1.01 in 1790 |

Our calculations use the following inflation rate formula to calculate the change in value between 1789 and 1790:

CPI in 1790
CPI in 1789

×

1789 GBP value

=

1790 GBP value

Then plug in historical CPI values. The U.K. CPI was 7.4 in the year 1789 and 7.5 in 1790:

7.57.4

×

£1

=

£1 in 1789 has the same "purchasing power" or "buying power" as £1.01 in 1790.

To get the total inflation rate for the 1 years between 1789 and 1790, we use the following formula:

CPI in 1790 - CPI in 1789CPI in 1789

×

100

=

Plugging in the values to this equation, we get:

7.5 - 7.47.4

×

100

=

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

- George Washington is elected President and John Adams is elected Vice-President by the first US Electoral College.
- William Wilberforce proposes the abolition of slavery in the United Kingdom House of Commons.
- The fall of the Bastille Prison marks the beginning of the French Revolution

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 1790 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1790.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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

Average inflation rate | 1.35% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1789 | 7.400 |

CPI in 1790 | 7.500 |

Inflation in 1789 | -1.33% |

Inflation in 1790 | 1.35% |

£1 in 1789 | £1.01 in 1790 |