£1 in 1855 is equivalent in purchasing power to about £1 in 1856. The pound had an average inflation rate of 0.00% per year between 1855 and 1856, producing a cumulative price increase of 0.00%. Purchasing power decreased by 0.00% in 1856 compared to 1855. On average, you would have to spend 0.00% more money in 1856 than in 1855 for the same item.

The 1855 inflation rate was 2.94%. The inflation rate in 1856 was 0.00%. The 1856 inflation rate is lower compared to the average inflation rate of 2.89% per year between 1856 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1856 was 10.50. It was 10.50 in the previous year, 1855. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 0.00% |

Converted amount (£1 base) | £1 |

Price difference (£1 base) | £0.00 |

CPI in 1855 | 10.500 |

CPI in 1856 | 10.500 |

Inflation in 1855 | 2.94% |

Inflation in 1856 | 0.00% |

£1 in 1855 | £1 in 1856 |

Our calculations use the following inflation rate formula to calculate the change in value between 1855 and 1856:

CPI in 1856
CPI in 1855

×

1855 GBP value

=

1856 GBP value

Then plug in historical CPI values. The U.K. CPI was 10.5 in the year 1855 and 10.5 in 1856:

10.510.5

×

£1

=

£1 in 1855 has the same "purchasing power" or "buying power" as £1 in 1856.

To get the total inflation rate for the 1 years between 1855 and 1856, we use the following formula:

CPI in 1856 - CPI in 1855CPI in 1855

×

100

=

Plugging in the values to this equation, we get:

10.5 - 10.510.5

×

100

=

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

- David Livingstone visits the Victoria Falls, becoming the first European to see it.
- Henry John Temple, Third Viscount Palmerston, forms a British government.
- A train passes a railway suspension bridge at the Niagara Falls, US for the first time.
- Kerosene is patented by Abraham Gesner.

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 1856 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1856.

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 | 0.00% |

Converted amount (£1 base) | £1 |

Price difference (£1 base) | £0.00 |

CPI in 1855 | 10.500 |

CPI in 1856 | 10.500 |

Inflation in 1855 | 2.94% |

Inflation in 1856 | 0.00% |

£1 in 1855 | £1 in 1856 |