£1 in 1864 is equivalent in purchasing power to about £1.01 in 1865. The pound had an average inflation rate of 1.12% per year between 1864 and 1865, producing a cumulative price increase of 1.12%. Purchasing power decreased by 1.12% in 1865 compared to 1864. On average, you would have to spend 1.12% more money in 1865 than in 1864 for the same item.

This means that prices in 1865 are 1.01 times higher than average prices since 1864, according to the Office for National Statistics composite price index.

The 1864 inflation rate was -1.11%. The inflation rate in 1865 was 1.12%. The 1865 inflation rate is lower compared to the average inflation rate of 3.16% per year between 1865 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1865 was 9.00. It was 8.90 in the previous year, 1864. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.

⌃

Average inflation rate | 1.12% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1864 | 8.900 |

CPI in 1865 | 9.000 |

Inflation in 1864 | -1.11% |

Inflation in 1865 | 1.12% |

£1 in 1864 | £1.01 in 1865 |

Our calculations use the following inflation rate formula to calculate the change in value between 1864 and 1865:

CPI in 1865
CPI in 1864

×

1864 GBP value

=

1865 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.9 in the year 1864 and 9 in 1865:

98.9

×

£1

=

£1 in 1864 has the same "purchasing power" or "buying power" as £1.01 in 1865.

To get the total inflation rate for the 1 years between 1864 and 1865, we use the following formula:

CPI in 1865 - CPI in 1864CPI in 1864

×

100

=

Plugging in the values to this equation, we get:

9 - 8.98.9

×

100

=

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

- Battle or Gate Pa occurs, where the British suffer their worst defeat of the New Zealand Wars by 230 entrenched Maori warriors in Tauranga
- The first Geneva Convention, that governed rules of warfare, is signed by 26 nations.
- Formal establishment of Thanksgiving as a national holiday by President Lincoln.

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 1865 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1865.

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 | 1.12% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1864 | 8.900 |

CPI in 1865 | 9.000 |

Inflation in 1864 | -1.11% |

Inflation in 1865 | 1.12% |

£1 in 1864 | £1.01 in 1865 |