£

U.K. inflation rate in 1846: 4.30%

Inflation in 1846 and Its Effect on Pound Value

Purchasing power decreased by 4.30% in 1846 compared to 1845. On average, you would have to spend 4.30% more money in 1846 than in 1845 for the same item.

In other words, £1 in 1845 is equivalent in purchasing power to about £1.04 in 1846.

The 1845 inflation rate was 4.49%. The inflation rate in 1846 was 4.30%. The 1846 inflation rate is higher compared to the average inflation rate of 2.78% per year between 1846 and 2020.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1846 was 9.70. It was 9.30 in the previous year, 1845. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

 Average inflation rate 4.30% Converted amount (£1 base) £1.04 Price difference (£1 base) £0.04 CPI in 1845 9.300 CPI in 1846 9.700 Inflation in 1845 4.49% Inflation in 1846 4.30%

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

How to Calculate Inflation Rate for £1, 1845 to 1846

This inflation calculator uses the following inflation rate formula:

CPI in 1846CPI in 1845
×
1845 GBP value
=
1846 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1845 and 9.7 in 1846:

9.79.3
×
£1
=
£1.04

£1 in 1845 has the same "purchasing power" or "buying power" as £1.04 in 1846.

To get the total inflation rate for the 1 years between 1845 and 1846, we use the following formula:

CPI in 1846 - CPI in 1845CPI in 1845
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.7 - 9.39.3
×
100
=
4%

News headlines from 1845

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

• Suggestion of aggressive expansion of the United States made by President James K. Polk to Congress, appeal known as Manifest Destiny
• The Union admits Texas as 28th state.
• James K. Polk,becomes the United States' 11th President,

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 1846 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Jan. 2020, https://www.officialdata.org/UK-inflation-rate-in-1846.

Special thanks to QuickChart for providing downloadable chart images.

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

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Average inflation rate 4.30% Converted amount (£1 base) £1.04 Price difference (£1 base) £0.04 CPI in 1845 9.300 CPI in 1846 9.700 Inflation in 1845 4.49% Inflation in 1846 4.30%