Value of £1 from 1770 to 1771
£1 in 1770 is equivalent in purchasing power to about £1.08 in 1771. The pound had an average inflation rate of 8.06% per year between 1770 and 1771, producing a cumulative price increase of 8.06%.
This means that prices in 1771 are 1.08 times as high as average prices since 1770, according to the Office for National Statistics composite price index.
The inflation rate in 1770 was 0.00%. The inflation rate in 1771 was 8.06%. The 1771 inflation rate is higher compared to the average inflation rate of 2.14% per year between 1771 and 2024.
⌃
| Average inflation rate | 8.06% |
| Converted amount £1 base | £1.08 |
| Price difference £1 base | £0.08 |
| CPI in 1770 | 6.200 |
| CPI in 1771 | 6.700 |
| Inflation in 1770 | 0.00% |
| Inflation in 1771 | 8.06% |
| £1 in 1770 | £1.08 in 1771 |
How to calculate inflation rate for £1, 1770 to 1771
Our calculations use the following inflation rate formula to calculate the change in value between 1770 and 1771:
CPI in 1771 CPI in 1770
×
1770 GBP value
=
1771 GBP value
Then plug in historical CPI values. The U.K. CPI was 6.2 in the year 1770 and 6.7 in 1771:
6.76.2
×
£1
=
£1.08
£1 in 1770 has the same "purchasing power" or "buying power" as £1.08 in 1771.
To get the total inflation rate for the 1 years between 1770 and 1771, we use the following formula:
CPI in 1771 - CPI in 1770CPI in 1770
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
6.7 - 6.26.2
×
100
=
8%
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 the current year, which is based on The Bank of England's forecast.
You may use the following MLA citation for this page: “£1 in 1770 → 1771 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Apr. 2024, https://www.officialdata.org/uk/inflation/1770?amount=1&endYear=1771.
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 | 8.06% |
| Converted amount £1 base | £1.08 |
| Price difference £1 base | £0.08 |
| CPI in 1770 | 6.200 |
| CPI in 1771 | 6.700 |
| Inflation in 1770 | 0.00% |
| Inflation in 1771 | 8.06% |
| £1 in 1770 | £1.08 in 1771 |