£1 in 1780 is worth £1.13 in 1778

Value of £1 from 1780 to 1778

According to the Office for National Statistics composite price index, prices in 1778 are 12.70% higher than average prices since 1780. The British pound experienced an average deflation rate of -5.80% per year during this period, causing the real value of a pound to increase.

In other words, £1 in 1780 is equivalent in purchasing power to about £1.13 in 1778, a difference of £0.13 over 2 years.

The 1778 inflation rate was 2.90%. The inflation rate in 1780 was -3.08%. The 1780 inflation rate is lower compared to the average inflation rate of 2.19% per year between 1780 and 2020.


Inflation from 1780 to 1778
Cumulative price change 12.70%
Average inflation rate -5.80%
Converted amount (£1 base) £1.13
Price difference (£1 base) £0.13
CPI in 1780 6.300
CPI in 1778 7.100
Inflation in 1778 2.90%
Inflation in 1780 -3.08%

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI
Download

Buying power of £1 in 1778

This chart shows a calculation of buying power equivalence for £1 in 1778 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.13 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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:

Pound inflation: 1778-1780
Year Pound Value Inflation Rate
1778 £1.00 2.90%
1779 £0.92 -8.45%
1780 £0.89 -3.08%
1781 £0.93 4.76%
1782 £0.94 1.52%
1783 £1.06 11.94%
1784 £1.07 1.33%
1785 £1.01 -5.26%
1786 £1.01 0.00%
1787 £1.01 0.00%
1788 £1.06 4.17%
1789 £1.04 -1.33%
1790 £1.06 1.35%
1791 £1.06 0.00%
1792 £1.07 1.33%
1793 £1.10 2.63%
1794 £1.20 8.97%
1795 £1.32 10.59%
1796 £1.41 6.38%
1797 £1.27 -10.00%
1798 £1.24 -2.22%
1799 £1.39 12.50%
1800 £1.90 36.36%
1801 £2.13 11.85%
1802 £1.63 -23.18%
1803 £1.55 -5.17%
1804 £1.59 2.73%
1805 £1.85 15.93%
1806 £1.77 -3.82%
1807 £1.73 -2.38%
1808 £1.80 4.07%
1809 £1.97 9.37%
1810 £2.03 2.86%
1811 £1.97 -2.78%
1812 £2.24 13.57%
1813 £2.30 2.52%
1814 £2.00 -12.88%
1815 £1.79 -10.56%
1816 £1.63 -8.66%
1817 £1.86 13.79%
1818 £1.86 0.00%
1819 £1.82 -2.27%
1820 £1.65 -9.30%
1821 £1.45 -11.97%
1822 £1.25 -13.59%
1823 £1.34 6.74%
1824 £1.45 8.42%
1825 £1.70 17.48%
1826 £1.61 -5.79%
1827 £1.51 -6.14%
1828 £1.46 -2.80%
1829 £1.45 -0.96%
1830 £1.39 -3.88%
1831 £1.54 10.10%
1832 £1.42 -7.34%
1833 £1.34 -5.94%
1834 £1.23 -8.42%
1835 £1.25 2.30%
1836 £1.39 11.24%
1837 £1.42 2.02%
1838 £1.44 0.99%
1839 £1.54 6.86%
1840 £1.56 1.83%
1841 £1.54 -1.80%
1842 £1.41 -8.26%
1843 £1.25 -11.00%
1844 £1.25 0.00%
1845 £1.31 4.49%
1846 £1.37 4.30%
1847 £1.54 12.37%
1848 £1.34 -12.84%
1849 £1.25 -6.32%
1850 £1.18 -5.62%
1851 £1.14 -3.57%
1852 £1.14 0.00%
1853 £1.25 9.88%
1854 £1.44 14.61%
1855 £1.48 2.94%
1856 £1.48 0.00%
1857 £1.41 -4.76%
1858 £1.28 -9.00%
1859 £1.27 -1.10%
1860 £1.31 3.33%
1861 £1.34 2.15%
1862 £1.31 -2.11%
1863 £1.27 -3.23%
1864 £1.25 -1.11%
1865 £1.27 1.12%
1866 £1.34 5.56%
1867 £1.42 6.32%
1868 £1.41 -0.99%
1869 £1.34 -5.00%
1870 £1.34 0.00%
1871 £1.35 1.05%
1872 £1.41 4.17%
1873 £1.46 4.00%
1874 £1.41 -3.85%
1875 £1.38 -2.00%
1876 £1.38 0.00%
1877 £1.37 -1.02%
1878 £1.34 -2.06%
1879 £1.28 -4.21%
1880 £1.32 3.30%
1881 £1.31 -1.06%
1882 £1.32 1.08%
1883 £1.31 -1.06%
1884 £1.28 -2.15%
1885 £1.24 -3.30%
1886 £1.23 -1.14%
1887 £1.21 -1.15%
1888 £1.23 1.16%
1889 £1.24 1.15%
1890 £1.24 0.00%
1891 £1.25 1.14%
1892 £1.25 0.00%
1893 £1.24 -1.12%
1894 £1.23 -1.14%
1895 £1.21 -1.15%
1896 £1.20 -1.16%
1897 £1.23 2.35%
1898 £1.23 0.00%
1899 £1.24 1.15%
1900 £1.30 4.55%
1901 £1.30 0.00%
1902 £1.30 0.00%
1903 £1.31 1.09%
1904 £1.31 0.00%
1905 £1.31 0.00%
1906 £1.31 0.00%
1907 £1.32 1.08%
1908 £1.32 0.00%
1909 £1.34 1.06%
1910 £1.35 1.05%
1911 £1.35 0.00%
1912 £1.39 3.13%
1913 £1.38 -1.01%
1914 £1.38 0.00%
1915 £1.55 12.24%
1916 £1.83 18.18%
1917 £2.30 25.38%
1918 £2.80 22.09%
1919 £3.08 10.05%
1920 £3.56 15.53%
1921 £3.25 -8.70%
1922 £2.80 -13.85%
1923 £2.63 -6.03%
1924 £2.62 -0.53%
1925 £2.62 0.00%
1926 £2.61 -0.54%
1927 £2.54 -2.70%
1928 £2.54 0.00%
1929 £2.51 -1.11%
1930 £2.44 -2.81%
1931 £2.34 -4.05%
1932 £2.28 -2.41%
1933 £2.23 -2.47%
1934 £2.23 0.00%
1935 £2.24 0.63%
1936 £2.25 0.63%
1937 £2.34 3.75%
1938 £2.37 1.20%
1939 £2.44 2.98%
1940 £2.85 16.76%
1941 £3.15 10.89%
1942 £3.38 7.14%
1943 £3.49 3.33%
1944 £3.59 2.82%
1945 £3.69 2.75%
1946 £3.80 3.05%
1947 £4.07 7.04%
1948 £4.38 7.61%
1949 £4.51 2.89%
1950 £4.65 3.13%
1951 £5.07 9.09%
1952 £5.54 9.17%
1953 £5.70 3.05%
1954 £5.82 1.98%
1955 £6.07 4.36%
1956 £6.38 5.10%
1957 £6.61 3.53%
1958 £6.82 3.20%
1959 £6.85 0.41%
1960 £6.92 1.03%
1961 £7.15 3.46%
1962 £7.46 4.33%
1963 £7.61 1.89%
1964 £7.86 3.33%
1965 £8.23 4.66%
1966 £8.55 3.94%
1967 £8.77 2.64%
1968 £9.18 4.65%
1969 £9.68 5.37%
1970 £10.30 6.40%
1971 £11.27 9.44%
1972 £12.07 7.13%
1973 £13.17 9.10%
1974 £15.28 16.04%
1975 £18.99 24.24%
1976 £22.13 16.54%
1977 £25.63 15.85%
1978 £27.76 8.30%
1979 £31.48 13.39%
1980 £37.14 17.99%
1981 £41.55 11.87%
1982 £45.13 8.61%
1983 £47.20 4.59%
1984 £49.55 4.98%
1985 £52.56 6.08%
1986 £54.35 3.40%
1987 £56.62 4.17%
1988 £59.39 4.90%
1989 £64.01 7.78%
1990 £70.07 9.46%
1991 £74.18 5.87%
1992 £76.96 3.74%
1993 £78.18 1.59%
1994 £80.07 2.41%
1995 £82.85 3.47%
1996 £84.85 2.41%
1997 £87.51 3.14%
1998 £90.51 3.43%
1999 £91.90 1.54%
2000 £94.62 2.96%
2001 £96.30 1.77%
2002 £97.90 1.67%
2003 £100.73 2.89%
2004 £103.73 2.98%
2005 £106.66 2.82%
2006 £110.07 3.20%
2007 £114.79 4.29%
2008 £119.37 3.99%
2009 £118.73 -0.53%
2010 £124.21 4.61%
2011 £130.68 5.20%
2012 £134.87 3.21%
2013 £138.97 3.04%
2014 £142.25 2.36%
2015 £143.66 0.99%
2016 £146.15 1.74%
2017 £151.39 3.58%
2018 £155.15 2.48%
2019 £157.95 1.80%
2020 £160.32 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1778 amounts in 1780 pounds, based on the 12.70% change in prices:

Conversion Table: Value of a pound in 1780
Initial value Equivalent value
£1 pound in 1778 £0.89 pounds in 1780
£5 pounds in 1778 £4.44 pounds in 1780
£10 pounds in 1778 £8.87 pounds in 1780
£50 pounds in 1778 £44.37 pounds in 1780
£100 pounds in 1778 £88.73 pounds in 1780
£500 pounds in 1778 £443.66 pounds in 1780
£1,000 pounds in 1778 £887.32 pounds in 1780
£5,000 pounds in 1778 £4,436.62 pounds in 1780
£10,000 pounds in 1778 £8,873.24 pounds in 1780
£50,000 pounds in 1778 £44,366.20 pounds in 1780
£100,000 pounds in 1778 £88,732.39 pounds in 1780
£500,000 pounds in 1778 £443,661.97 pounds in 1780
£1,000,000 pounds in 1778 £887,323.94 pounds in 1780

How to Calculate Inflation Rate for £1, 1778 to 1780

Our calculations use the following inflation rate formula to calculate the change in value between 1778 and 1780:

CPI in 1778 CPI in 1780
×
1780 GBP value
=
1778 GBP value

Then plug in historical CPI values. The U.K. CPI was 6.3 in the year 1780 and 7.1 in 1778:

7.16.3
×
£1
=
£1.13

£1 in 1780 has the same "purchasing power" or "buying power" as £1.13 in 1778.

To get the total inflation rate for the 2 years between 1778 and 1780, we use the following formula:

CPI in 1778 - CPI in 1780CPI in 1780
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

7.1 - 6.36.3
×
100
=
13%

News headlines from 1778

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

  • The Danish national anthem, Kong Christian, is sung for the first time.
  • Pennsylvania abolishes slavery, for new born children.
  • British Gazette and Sunday Monitor become the first British Sunday newspaper
  • 1781 William Hershel, discovers Uranus, he originally thought it was a comet.
  • Forty-four Spanish speaking mestizos found the city of Los Angeles in the Bay of Smokes (Bahia de las Fumas)
  • General Cornwallis surrenders at Yorktown,,ending the United States Revolutionary War.

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 1780 → 1778 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Aug. 2020, https://www.officialdata.org/uk/inflation/1780?amount=1&endYear=1778.

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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» Read more about inflation and investment.

Inflation from 1780 to 1778
Cumulative price change 12.70%
Average inflation rate -5.80%
Converted amount (£1 base) £1.13
Price difference (£1 base) £0.13
CPI in 1780 6.300
CPI in 1778 7.100
Inflation in 1778 2.90%
Inflation in 1780 -3.08%