£1 in 1856 is equivalent in purchasing power to about £0.95 in 1857.
The pound had an average **deflation** rate of -4.76% per year since 1856, producing a cumulative price change of -4.76%.
Purchasing power *increased* by 4.76% in 1857 compared to 1856. On average, you would have to spend 4.76% *less* money in 1857 than in 1856 for the same item.
This is an example of **deflation**.

This means that prices in 1857 are 4.76% lower than average prices since 1856, according to the Office for National Statistics composite price index.

The 1856 inflation rate was 0.00%. The inflation rate in 1857 was -4.76%. The 1857 inflation rate is lower compared to the average inflation rate of 2.94% per year between 1857 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1857 was 10.00. It was 10.50 in the previous year, 1856. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1857 CPI is less than 1856 CPI, negative inflation (also known as deflation) has occurred.

⌃

Average inflation rate | -4.76% |

Converted amount (£1 base) | £0.95 |

Price difference (£1 base) | £-0.05 |

CPI in 1856 | 10.500 |

CPI in 1857 | 10.000 |

Inflation in 1856 | 0.00% |

Inflation in 1857 | -4.76% |

£1 in 1856 | £0.95 in 1857 |

Our calculations use the following inflation rate formula to calculate the change in value between 1856 and 1857:

CPI in 1857
CPI in 1856

×

1856 GBP value

=

1857 GBP value

Then plug in historical CPI values. The U.K. CPI was 10.5 in the year 1856 and 10 in 1857:

1010.5

×

£1

=

£1 in 1856 has the same "purchasing power" or "buying power" as £0.95 in 1857.

To get the total inflation rate for the 1 years between 1856 and 1857, we use the following formula:

CPI in 1857 - CPI in 1856CPI in 1856

×

100

=

Plugging in the values to this equation, we get:

10 - 10.510.5

×

100

=

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

- First piece of legislation providing for elections by a secret ballot, the Electoral Act, is passed by the colonial Tasmanian Parliament
- The Crimean War ends after Russia signs a Peace treaty in Paris.
- Opening of the first National Convention of the Republican Party in Philadelphia.
- The Second Opium War, is triggered by the Arrow Incident on the Pearl River.

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 1857 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1857.

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 | -4.76% |

Converted amount (£1 base) | £0.95 |

Price difference (£1 base) | £-0.05 |

CPI in 1856 | 10.500 |

CPI in 1857 | 10.000 |

Inflation in 1856 | 0.00% |

Inflation in 1857 | -4.76% |

£1 in 1856 | £0.95 in 1857 |