£1 in 1882 is equivalent in purchasing power to about £0.99 in 1883.
The pound had an average **deflation** rate of -1.06% per year since 1882, producing a cumulative price change of -1.06%.
Purchasing power *increased* by 1.06% in 1883 compared to 1882. On average, you would have to spend 1.06% *less* money in 1883 than in 1882 for the same item.
This is an example of **deflation**.

This means that prices in 1883 are 1.06% lower than average prices since 1882, according to the Office for National Statistics composite price index.

The 1882 inflation rate was 1.08%. The inflation rate in 1883 was -1.06%. The 1883 inflation rate is lower compared to the average inflation rate of 3.56% per year between 1883 and 2021.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1883 was 9.30. It was 9.40 in the previous year, 1882. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation. Because the 1883 CPI is less than 1882 CPI, negative inflation (also known as deflation) has occurred.

⌃

Average inflation rate | -1.06% |

Converted amount (£1 base) | £0.99 |

Price difference (£1 base) | £-0.01 |

CPI in 1882 | 9.400 |

CPI in 1883 | 9.300 |

Inflation in 1882 | 1.08% |

Inflation in 1883 | -1.06% |

£1 in 1882 | £0.99 in 1883 |

Our calculations use the following inflation rate formula to calculate the change in value between 1882 and 1883:

CPI in 1883
CPI in 1882

×

1882 GBP value

=

1883 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.4 in the year 1882 and 9.3 in 1883:

9.39.4

×

£1

=

£1 in 1882 has the same "purchasing power" or "buying power" as £0.99 in 1883.

To get the total inflation rate for the 1 years between 1882 and 1883, we use the following formula:

CPI in 1883 - CPI in 1882CPI in 1882

×

100

=

Plugging in the values to this equation, we get:

9.3 - 9.49.4

×

100

=

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

- Discovery of the tubercle bacillus which causes tuberculosis by German scientist Robert Koch
- Roderick Maslean's shot narrowly misses Queen Victoria while she is boarding a train in Windsor.
- Jesse James, an American outlaw, is killed by Robert Ford in St Joseph.

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 1883 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Sep. 2021, https://www.officialdata.org/UK-inflation-rate-in-1883.

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 | -1.06% |

Converted amount (£1 base) | £0.99 |

Price difference (£1 base) | £-0.01 |

CPI in 1882 | 9.400 |

CPI in 1883 | 9.300 |

Inflation in 1882 | 1.08% |

Inflation in 1883 | -1.06% |

£1 in 1882 | £0.99 in 1883 |