£1 in 1775 is worth £1.07 in 1774

Value of £1 from 1775 to 1774

£1 in 1775 is equivalent in purchasing power to about £1.07 in 1774. The pound had an average deflation rate of -6.67% per year since 1774, producing a cumulative price change of 7.14%.

This means that prices in 1774 are 1.07 times higher than average prices since 1775, according to the Office for National Statistics composite price index.

The inflation rate in 1774 was 1.35%. The inflation rate in 1775 was -6.67%. The 1775 inflation rate is lower compared to the average inflation rate of 2.12% per year between 1775 and 2022.


Inflation from 1775 to 1774
Average inflation rate-6.67%
Converted amount (£1 base)£1.07
Price difference (£1 base)£0.07
CPI in 17757.000
CPI in 17747.500
Inflation in 17741.35%
Inflation in 1775-6.67%
£1 in 1775£1.07 in 1774

Recent GBP inflation
Annual Rate, the Office for National Statistics CPI
Download

How to calculate inflation rate for £1, 1774 to 1775

Our calculations use the following inflation rate formula to calculate the change in value between 1774 and 1775:

CPI in 1774 CPI in 1775
×
1775 GBP value
=
1774 GBP value

Then plug in historical CPI values. The U.K. CPI was 7 in the year 1775 and 7.5 in 1774:

7.57
×
£1
=
£1.07

£1 in 1775 has the same "purchasing power" or "buying power" as £1.07 in 1774.

To get the total inflation rate for the 1 years between 1774 and 1775, we use the following formula:

CPI in 1774 - CPI in 1775CPI in 1775
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.5 - 77
×
100
=
7%

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 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£1 in 1775 → 1774 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 Sep. 2022, https://www.officialdata.org/uk/inflation/1775?amount=1&endYear=1774.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1775 to 1774
Average inflation rate-6.67%
Converted amount (£1 base)£1.07
Price difference (£1 base)£0.07
CPI in 17757.000
CPI in 17747.500
Inflation in 17741.35%
Inflation in 1775-6.67%
£1 in 1775£1.07 in 1774