£1 in 1844 is equivalent in purchasing power to about £1.04 in 1845. The pound had an average inflation rate of 4.49% per year between 1844 and 1845, producing a cumulative price increase of 4.49%. Purchasing power decreased by 4.49% in 1845 compared to 1844. On average, you would have to spend 4.49% more money in 1845 than in 1844 for the same item.

This means that prices in 1845 are 1.04 times higher than average prices since 1844, according to the Office for National Statistics composite price index.

The inflation rate in 1844 was 0.00%. The inflation rate in 1845 was 4.49%. The 1845 inflation rate is higher compared to the average inflation rate of 2.79% per year between 1845 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1845 was 9.30. It was 8.90 in the previous year, 1844. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 4.49% |

Converted amount (£1 base) | £1.04 |

Price difference (£1 base) | £0.04 |

CPI in 1844 | 8.900 |

CPI in 1845 | 9.300 |

Inflation in 1844 | 0.00% |

Inflation in 1845 | 4.49% |

£1 in 1844 | £1.04 in 1845 |

Our calculations use the following inflation rate formula to calculate the change in value between 1844 and 1845:

CPI in 1845
CPI in 1844

×

1844 GBP value

=

1845 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.9 in the year 1844 and 9.3 in 1845:

9.38.9

×

£1

=

£1 in 1844 has the same "purchasing power" or "buying power" as £1.04 in 1845.

To get the total inflation rate for the 1 years between 1844 and 1845, we use the following formula:

CPI in 1845 - CPI in 1844CPI in 1844

×

100

=

Plugging in the values to this equation, we get:

9.3 - 8.98.9

×

100

=

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

- The World's first telegraph message containing "What hath God wrought", is sent by Samuel Morse.
- Discovery of Lake Tahoe in the US by a European, called John C. Fremont.
- Haiti gains its Independence from the Dominican Republic, now celebrated as their National Day.

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 1845 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Dec. 2021, https://www.officialdata.org/UK-inflation-rate-in-1845.

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 | 4.49% |

Converted amount (£1 base) | £1.04 |

Price difference (£1 base) | £0.04 |

CPI in 1844 | 8.900 |

CPI in 1845 | 9.300 |

Inflation in 1844 | 0.00% |

Inflation in 1845 | 4.49% |

£1 in 1844 | £1.04 in 1845 |