£1 in 1841 is equivalent in purchasing power to about £0.92 in 1842.
The pound had an average **deflation** rate of -8.26% per year since 1841, producing a cumulative price change of -8.26%.
Purchasing power *increased* by 8.26% in 1842 compared to 1841. On average, you would have to spend 8.26% *less* money in 1842 than in 1841 for the same item.
This is an example of **deflation**.

This means that prices in 1842 are 8.26% lower than average prices since 1841, according to the Office for National Statistics composite price index.

The 1841 inflation rate was -1.80%. The inflation rate in 1842 was -8.26%. The 1842 inflation rate is lower compared to the average inflation rate of 2.69% per year between 1842 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1842 was 10.00. It was 10.90 in the previous year, 1841. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1842 CPI is less than 1841 CPI, negative inflation (also known as deflation) has occurred.

⌃

Average inflation rate | -8.26% |

Converted amount (£1 base) | £0.92 |

Price difference (£1 base) | £-0.08 |

CPI in 1841 | 10.900 |

CPI in 1842 | 10.000 |

Inflation in 1841 | -1.80% |

Inflation in 1842 | -8.26% |

£1 in 1841 | £0.92 in 1842 |

Our calculations use the following inflation rate formula to calculate the change in value between 1841 and 1842:

CPI in 1842
CPI in 1841

×

1841 GBP value

=

1842 GBP value

Then plug in historical CPI values. The U.K. CPI was 10.9 in the year 1841 and 10 in 1842:

1010.9

×

£1

=

£1 in 1841 has the same "purchasing power" or "buying power" as £0.92 in 1842.

To get the total inflation rate for the 1 years between 1841 and 1842, we use the following formula:

CPI in 1842 - CPI in 1841CPI in 1841

×

100

=

Plugging in the values to this equation, we get:

10 - 10.910.9

×

100

=

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

- The British gain control over Hong Kong during the First Opium War, after China conceded it to them.
- The first emigrant wagon train departs, heading from Independence, Missouri, to California.
- The first wagon train arrives in California.

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 1842 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1842.

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 | -8.26% |

Converted amount (£1 base) | £0.92 |

Price difference (£1 base) | £-0.08 |

CPI in 1841 | 10.900 |

CPI in 1842 | 10.000 |

Inflation in 1841 | -1.80% |

Inflation in 1842 | -8.26% |

£1 in 1841 | £0.92 in 1842 |