£1 in 1797 is equivalent in purchasing power to about £0.98 in 1798.
The pound had an average **deflation** rate of -2.22% per year since 1797, producing a cumulative price change of -2.22%.
Purchasing power *increased* by 2.22% in 1798 compared to 1797. On average, you would have to spend 2.22% *less* money in 1798 than in 1797 for the same item.
This is an example of **deflation**.

This means that prices in 1798 are 2.22% lower than average prices since 1797, according to the Office for National Statistics composite price index.

The inflation rate in 1797 was -10.00%. The inflation rate in 1798 was -2.22%. The 1798 inflation rate is lower compared to the average inflation rate of 2.22% per year between 1798 and 2022.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1798 was 8.80. It was 9.00 in the previous year, 1797. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1798 CPI is less than 1797 CPI, negative inflation (also known as deflation) has occurred.

⌃

Average inflation rate | -2.22% |

Converted amount (£1 base) | £0.98 |

Price difference (£1 base) | £-0.02 |

CPI in 1797 | 9.000 |

CPI in 1798 | 8.800 |

Inflation in 1797 | -10.00% |

Inflation in 1798 | -2.22% |

£1 in 1797 | £0.98 in 1798 |

Our calculations use the following inflation rate formula to calculate the change in value between 1797 and 1798:

CPI in 1798
CPI in 1797

×

1797 GBP value

=

1798 GBP value

Then plug in historical CPI values. The U.K. CPI was 9 in the year 1797 and 8.8 in 1798:

8.89

×

£1

=

£1 in 1797 has the same "purchasing power" or "buying power" as £0.98 in 1798.

To get the total inflation rate for the 1 years between 1797 and 1798, we use the following formula:

CPI in 1798 - CPI in 1797CPI in 1797

×

100

=

Plugging in the values to this equation, we get:

8.8 - 99

×

100

=

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

- Napoleon prepares plans to invade Britain.
- First £1 note issued by the Bank of England
- The Dutch fleet is defeated by British navy in a Battle of Camperdown

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 1798 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Jan. 2022, https://www.officialdata.org/UK-inflation-rate-in-1798.

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 | -2.22% |

Converted amount (£1 base) | £0.98 |

Price difference (£1 base) | £-0.02 |

CPI in 1797 | 9.000 |

CPI in 1798 | 8.800 |

Inflation in 1797 | -10.00% |

Inflation in 1798 | -2.22% |

£1 in 1797 | £0.98 in 1798 |