£

U.K. inflation rate in 1829: -0.96%

Inflation in 1829 and Its Effect on Pound Value

Purchasing power increased by 0.96% in 1829 compared to 1828. On average, you would have to spend 0.96% less money in 1829 than in 1828 for the same item. This is an example of deflation.

In other words, £1 in 1828 is equivalent in purchasing power to about £0.99 in 1829.

The 1828 inflation rate was -2.80%. The inflation rate in 1829 was -0.96%. The 1829 inflation rate is lower compared to the average inflation rate of 2.49% per year between 1829 and 2020.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1829 was 10.30. It was 10.40 in the previous year, 1828. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1829 CPI is less than 1828 CPI, negative inflation (also known as deflation) has occurred.

 Average inflation rate -0.96% Converted amount (£1 base) £0.99 Price difference (£1 base) £-0.01 CPI in 1828 10.400 CPI in 1829 10.300 Inflation in 1828 -2.80% Inflation in 1829 -0.96%

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

How to Calculate Inflation Rate for £1, 1828 to 1829

This inflation calculator uses the following inflation rate formula:

CPI in 1829CPI in 1828
×
1828 GBP value
=
1829 GBP value

Then plug in historical CPI values. The U.K. CPI was 10.4 in the year 1828 and 10.3 in 1829:

10.310.4
×
£1
=
£0.99

£1 in 1828 has the same "purchasing power" or "buying power" as £0.99 in 1829.

To get the total inflation rate for the 1 years between 1828 and 1829, we use the following formula:

CPI in 1829 - CPI in 1828CPI in 1828
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.3 - 10.410.4
×
100
=
-1%

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

• The first commercial railroad is commissioned in Baltimore and Ohio.
• The Freedom Journal, is published for the first time, it is the first black newspaper

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 1829 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Jan. 2020, https://www.officialdata.org/UK-inflation-rate-in-1829.