According to the Office for National Statistics composite price index, today's prices in 2020 are 16,396.28% higher than average prices since 1776. The British pound experienced an average inflation rate of 2.11% per year during this period, meaning the real value of a pound decreased.

In other words, £100 in 1776 is equivalent in purchasing power to about £16,496.28 in 2020, a difference of £16,396.28 over 244 years.

The 1776 inflation rate was -1.43%. The current inflation rate (2019 to 2020) is now 1.50%^{1}. If this number holds, £100 today will be equivalent in buying power to £101.50 next year.

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Cumulative price change | 16,396.28% |

Average inflation rate | 2.11% |

Converted amount (£100 base) | £16,496.28 |

Price difference (£100 base) | £16,396.28 |

CPI in 1776 | 6.900 |

CPI in 2020 | 1,138.243 |

Inflation in 1776 | -1.43% |

Inflation in 2020 | 1.50% |

This chart shows a calculation of buying power equivalence for £100 in 1776 (price index tracking began in 1750).

For example, if you started with £100, you would need to end with £16,496.28 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £100 is equivalent to £16,496.28 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1776 dollars, the chart below shows how £100 buys less over the past 244 years.

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1776

×

1776 GBP value

=

2020 GBP value

Then plug in historical CPI values. The U.K. CPI was 6.9 in the year 1776 and 1138.2433607545 in 2020:

1138.24336075456.9

×

£100

=

£100 in 1776 has the same "purchasing power" or "buying power" as £16,496.28 in 2020.

To get the total inflation rate for the 244 years between 1776 and 2020, we use the following formula:

CPI in 2020 - CPI in 1776CPI in 1776

×

100

=

Plugging in the values to this equation, we get:

1138.2433607545 - 6.96.9

×

100

=

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

- Austria outlaws interrogation and torture.
- Thomas Paine issues Common Sense, a pamphlet advocating American independence.
- 56 people formally sign the U.S. Declaration of Independence
- The United States Congress officially releases the Declaration of Independence.
- United States of America gets its official name
- British troops capture Fort Washington.

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: “1776 pounds in 2020 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Feb. 2020, https://www.officialdata.org/uk/inflation/1776?amount=&startYear=&future_pct=.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Cumulative price change | 16,396.28% |

Average inflation rate | 2.11% |

Converted amount (£100 base) | £16,496.28 |

Price difference (£100 base) | £16,396.28 |

CPI in 1776 | 6.900 |

CPI in 2020 | 1,138.243 |

Inflation in 1776 | -1.43% |

Inflation in 2020 | 1.50% |