U.K. inflation rate in 1854: 14.61%

Inflation in 1854 and its effect on pound value

£1 in 1853 is equivalent in purchasing power to about £1.15 in 1854. The pound had an average inflation rate of 14.61% per year between 1853 and 1854, producing a cumulative price increase of 14.61%. Purchasing power decreased by 14.61% in 1854 compared to 1853. On average, you would have to spend 14.61% more money in 1854 than in 1853 for the same item.

This means that prices in 1854 are 1.15 times higher than average prices since 1853, according to the Office for National Statistics composite price index.

The inflation rate in 1853 was 9.88%. The inflation rate in 1854 was 14.61%. The 1854 inflation rate is higher compared to the average inflation rate of 2.91% per year between 1854 and 2022.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1854 was 10.20. It was 8.90 in the previous year, 1853. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1853 to 1854
Average inflation rate14.61%
Converted amount (£1 base)£1.15
Price difference (£1 base)£0.15
CPI in 18538.900
CPI in 185410.200
Inflation in 18539.88%
Inflation in 185414.61%
£1 in 1853£1.15 in 1854

Recent GBP inflation
Annual Rate, the Office for National Statistics CPI
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How to calculate inflation rate for £1, 1853 to 1854

Our calculations use the following inflation rate formula to calculate the change in value between 1853 and 1854:

CPI in 1854 CPI in 1853
×
1853 GBP value
=
1854 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.9 in the year 1853 and 10.2 in 1854:

10.28.9
×
£1
=
£1.15

£1 in 1853 has the same "purchasing power" or "buying power" as £1.15 in 1854.

To get the total inflation rate for the 1 years between 1853 and 1854, we use the following formula:

CPI in 1854 - CPI in 1853CPI in 1853
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.2 - 8.98.9
×
100
=
15%

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 1854 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Aug. 2022, https://www.officialdata.org/UK-inflation-rate-in-1854.

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.


Ian Webster

About the author

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.

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Inflation from 1853 to 1854
Average inflation rate14.61%
Converted amount (£1 base)£1.15
Price difference (£1 base)£0.15
CPI in 18538.900
CPI in 185410.200
Inflation in 18539.88%
Inflation in 185414.61%
£1 in 1853£1.15 in 1854