£500 in 1782 is worth £84,943.53 today

Value of £500 from 1782 to 2020

£500 in 1782 is equivalent in purchasing power to about £84,943.53 today, an increase of £84,443.53 over 238 years. The pound had an average inflation rate of 2.18% per year between 1782 and today, producing a cumulative price increase of 16,888.71%.

This means that today's prices are 169.89 times higher than average prices since 1782, according to the Office for National Statistics composite price index. A pound today only buys 0.59% of what it could buy back then.

The 1782 inflation rate was 1.52%. The current year-over-year inflation rate (2019 to 2020) is now 1.50%1. If this number holds, £500 today will be equivalent in buying power to £507.50 next year.


Inflation from 1782 to 2020
Cumulative price change 16,888.71%
Average inflation rate 2.18%
Converted amount (£500 base) £84,943.53
Price difference (£500 base) £84,443.53
CPI in 1782 6.700
CPI in 2020 1,138.243
Inflation in 1782 1.52%
Inflation in 2020 1.50%
£500 in 1782 £84,943.53 in 2020

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI
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Buying power of £500 in 1782

This chart shows a calculation of buying power equivalence for £500 in 1782 (price index tracking began in 1750).

For example, if you started with £500, you would need to end with £84,943.53 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £500 is equivalent to £84,943.53 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 1782 dollars, the chart below shows how £500 is worth less over 238 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:

Pound inflation: 1782-2020
Year Pound Value Inflation Rate
1782 £500.00 1.52%
1783 £559.70 11.94%
1784 £567.16 1.33%
1785 £537.31 -5.26%
1786 £537.31 0.00%
1787 £537.31 0.00%
1788 £559.70 4.17%
1789 £552.24 -1.33%
1790 £559.70 1.35%
1791 £559.70 0.00%
1792 £567.16 1.33%
1793 £582.09 2.63%
1794 £634.33 8.97%
1795 £701.49 10.59%
1796 £746.27 6.38%
1797 £671.64 -10.00%
1798 £656.72 -2.22%
1799 £738.81 12.50%
1800 £1,007.46 36.36%
1801 £1,126.87 11.85%
1802 £865.67 -23.18%
1803 £820.90 -5.17%
1804 £843.28 2.73%
1805 £977.61 15.93%
1806 £940.30 -3.82%
1807 £917.91 -2.38%
1808 £955.22 4.07%
1809 £1,044.78 9.37%
1810 £1,074.63 2.86%
1811 £1,044.78 -2.78%
1812 £1,186.57 13.57%
1813 £1,216.42 2.52%
1814 £1,059.70 -12.88%
1815 £947.76 -10.56%
1816 £865.67 -8.66%
1817 £985.07 13.79%
1818 £985.07 0.00%
1819 £962.69 -2.27%
1820 £873.13 -9.30%
1821 £768.66 -11.97%
1822 £664.18 -13.59%
1823 £708.96 6.74%
1824 £768.66 8.42%
1825 £902.99 17.48%
1826 £850.75 -5.79%
1827 £798.51 -6.14%
1828 £776.12 -2.80%
1829 £768.66 -0.96%
1830 £738.81 -3.88%
1831 £813.43 10.10%
1832 £753.73 -7.34%
1833 £708.96 -5.94%
1834 £649.25 -8.42%
1835 £664.18 2.30%
1836 £738.81 11.24%
1837 £753.73 2.02%
1838 £761.19 0.99%
1839 £813.43 6.86%
1840 £828.36 1.83%
1841 £813.43 -1.80%
1842 £746.27 -8.26%
1843 £664.18 -11.00%
1844 £664.18 0.00%
1845 £694.03 4.49%
1846 £723.88 4.30%
1847 £813.43 12.37%
1848 £708.96 -12.84%
1849 £664.18 -6.32%
1850 £626.87 -5.62%
1851 £604.48 -3.57%
1852 £604.48 0.00%
1853 £664.18 9.88%
1854 £761.19 14.61%
1855 £783.58 2.94%
1856 £783.58 0.00%
1857 £746.27 -4.76%
1858 £679.10 -9.00%
1859 £671.64 -1.10%
1860 £694.03 3.33%
1861 £708.96 2.15%
1862 £694.03 -2.11%
1863 £671.64 -3.23%
1864 £664.18 -1.11%
1865 £671.64 1.12%
1866 £708.96 5.56%
1867 £753.73 6.32%
1868 £746.27 -0.99%
1869 £708.96 -5.00%
1870 £708.96 0.00%
1871 £716.42 1.05%
1872 £746.27 4.17%
1873 £776.12 4.00%
1874 £746.27 -3.85%
1875 £731.34 -2.00%
1876 £731.34 0.00%
1877 £723.88 -1.02%
1878 £708.96 -2.06%
1879 £679.10 -4.21%
1880 £701.49 3.30%
1881 £694.03 -1.06%
1882 £701.49 1.08%
1883 £694.03 -1.06%
1884 £679.10 -2.15%
1885 £656.72 -3.30%
1886 £649.25 -1.14%
1887 £641.79 -1.15%
1888 £649.25 1.16%
1889 £656.72 1.15%
1890 £656.72 0.00%
1891 £664.18 1.14%
1892 £664.18 0.00%
1893 £656.72 -1.12%
1894 £649.25 -1.14%
1895 £641.79 -1.15%
1896 £634.33 -1.16%
1897 £649.25 2.35%
1898 £649.25 0.00%
1899 £656.72 1.15%
1900 £686.57 4.55%
1901 £686.57 0.00%
1902 £686.57 0.00%
1903 £694.03 1.09%
1904 £694.03 0.00%
1905 £694.03 0.00%
1906 £694.03 0.00%
1907 £701.49 1.08%
1908 £701.49 0.00%
1909 £708.96 1.06%
1910 £716.42 1.05%
1911 £716.42 0.00%
1912 £738.81 3.13%
1913 £731.34 -1.01%
1914 £731.34 0.00%
1915 £820.90 12.24%
1916 £970.15 18.18%
1917 £1,216.42 25.38%
1918 £1,485.07 22.09%
1919 £1,634.33 10.05%
1920 £1,888.06 15.53%
1921 £1,723.88 -8.70%
1922 £1,485.07 -13.85%
1923 £1,395.52 -6.03%
1924 £1,388.06 -0.53%
1925 £1,388.06 0.00%
1926 £1,380.60 -0.54%
1927 £1,343.28 -2.70%
1928 £1,343.28 0.00%
1929 £1,328.36 -1.11%
1930 £1,291.04 -2.81%
1931 £1,238.81 -4.05%
1932 £1,208.96 -2.41%
1933 £1,179.10 -2.47%
1934 £1,179.10 0.00%
1935 £1,186.57 0.63%
1936 £1,194.03 0.63%
1937 £1,238.81 3.75%
1938 £1,253.73 1.20%
1939 £1,291.04 2.98%
1940 £1,507.46 16.76%
1941 £1,671.64 10.89%
1942 £1,791.04 7.14%
1943 £1,850.75 3.33%
1944 £1,902.99 2.82%
1945 £1,955.22 2.75%
1946 £2,014.93 3.05%
1947 £2,156.72 7.04%
1948 £2,320.90 7.61%
1949 £2,388.06 2.89%
1950 £2,462.69 3.13%
1951 £2,686.57 9.09%
1952 £2,932.84 9.17%
1953 £3,022.39 3.05%
1954 £3,082.09 1.98%
1955 £3,216.42 4.36%
1956 £3,380.60 5.10%
1957 £3,500.00 3.53%
1958 £3,611.94 3.20%
1959 £3,626.87 0.41%
1960 £3,664.18 1.03%
1961 £3,791.04 3.46%
1962 £3,955.22 4.33%
1963 £4,029.85 1.89%
1964 £4,164.18 3.33%
1965 £4,358.21 4.66%
1966 £4,529.85 3.94%
1967 £4,649.25 2.64%
1968 £4,865.67 4.65%
1969 £5,126.87 5.37%
1970 £5,455.22 6.40%
1971 £5,970.15 9.44%
1972 £6,395.52 7.13%
1973 £6,977.61 9.10%
1974 £8,097.01 16.04%
1975 £10,059.70 24.24%
1976 £11,723.88 16.54%
1977 £13,582.09 15.85%
1978 £14,708.96 8.30%
1979 £16,679.10 13.39%
1980 £19,679.10 17.99%
1981 £22,014.93 11.87%
1982 £23,910.45 8.61%
1983 £25,007.46 4.59%
1984 £26,253.73 4.98%
1985 £27,850.75 6.08%
1986 £28,798.51 3.40%
1987 £30,000.00 4.17%
1988 £31,470.15 4.90%
1989 £33,917.91 7.78%
1990 £37,126.87 9.46%
1991 £39,305.97 5.87%
1992 £40,776.12 3.74%
1993 £41,425.37 1.59%
1994 £42,425.37 2.41%
1995 £43,895.52 3.47%
1996 £44,955.22 2.41%
1997 £46,365.67 3.14%
1998 £47,955.22 3.43%
1999 £48,694.03 1.54%
2000 £50,134.33 2.96%
2001 £51,022.39 1.77%
2002 £51,873.13 1.67%
2003 £53,373.13 2.89%
2004 £54,962.69 2.98%
2005 £56,514.93 2.82%
2006 £58,320.90 3.20%
2007 £60,820.90 4.29%
2008 £63,246.27 3.99%
2009 £62,910.45 -0.53%
2010 £65,813.43 4.61%
2011 £69,238.81 5.20%
2012 £71,462.69 3.21%
2013 £73,634.33 3.04%
2014 £75,373.13 2.36%
2015 £76,119.40 0.99%
2016 £77,440.30 1.74%
2017 £80,216.42 3.58%
2018 £82,208.46 2.48%
2019 £83,688.21 1.80%
2020 £84,943.53 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 232 more rows

This conversion table shows various other 1782 amounts in today's pounds, based on the 16,888.71% change in prices:

Conversion: 1782 pounds today
Initial value Equivalent value
£1 pound in 1782 £169.89 pounds today
£5 pounds in 1782 £849.44 pounds today
£10 pounds in 1782 £1,698.87 pounds today
£50 pounds in 1782 £8,494.35 pounds today
£100 pounds in 1782 £16,988.71 pounds today
£500 pounds in 1782 £84,943.53 pounds today
£1,000 pounds in 1782 £169,887.07 pounds today
£5,000 pounds in 1782 £849,435.34 pounds today
£10,000 pounds in 1782 £1,698,870.69 pounds today
£50,000 pounds in 1782 £8,494,353.44 pounds today
£100,000 pounds in 1782 £16,988,706.88 pounds today
£500,000 pounds in 1782 £84,943,534.38 pounds today
£1,000,000 pounds in 1782 £169,887,068.77 pounds today

How to Calculate Inflation Rate for £500 since 1782

Our calculations use the following inflation rate formula to calculate the change in value between 1782 and today:

CPI today CPI in 1782
×
1782 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 6.7 in the year 1782 and 1138.2433607545 in 2020:

1138.24336075456.7
×
£500
=
£84,943.53

£500 in 1782 has the same "purchasing power" or "buying power" as £84,943.53 in 2020.

To get the total inflation rate for the 238 years between 1782 and 2020, we use the following formula:

CPI in 2020 - CPI in 1782CPI in 1782
×
100
=
Cumulative inflation rate (238 years)

Plugging in the values to this equation, we get:

1138.2433607545 - 6.76.7
×
100
=
16,889%

News headlines from 1782

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

  • The Bank of North America opens in Philadelphia, it is the first US commercial bank
  • Rama I overthrows King Taksin of Siam (now known as Thailand).
  • The US mint is established by a resolution of Congress

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: “£500 in 1782 → 2020 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Jan. 2021, https://www.officialdata.org/uk/inflation/1782?amount=500.

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 1782 to 2020
Cumulative price change 16,888.71%
Average inflation rate 2.18%
Converted amount (£500 base) £84,943.53
Price difference (£500 base) £84,443.53
CPI in 1782 6.700
CPI in 2020 1,138.243
Inflation in 1782 1.52%
Inflation in 2020 1.50%
£500 in 1782 £84,943.53 in 2020