£1 in 1790 is equivalent in purchasing power to about £1.01 in 1792, an increase of £0.01 over 2 years. The pound had an average inflation rate of 0.66% per year between 1790 and 1792, producing a cumulative price increase of 1.33%.

This means that prices in 1792 are 1.01 times higher than average prices since 1790, according to the Office for National Statistics composite price index.

The 1790 inflation rate was 1.35%. The inflation rate in 1792 was 1.33%. The 1792 inflation rate is lower compared to the average inflation rate of 2.22% per year between 1792 and 2021.

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Cumulative price change | 1.33% |

Average inflation rate | 0.66% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1790 | 7.500 |

CPI in 1792 | 7.600 |

Inflation in 1790 | 1.35% |

Inflation in 1792 | 1.33% |

£1 in 1790 | £1.01 in 1792 |

This chart shows a calculation of buying power equivalence for £1 in 1790 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.01 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.01 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 1790 dollars, the chart below shows how £1 is worth less over 2 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 conversion table shows various other 1790 amounts in 1792 pounds, based on the 1.33% change in prices:

Initial value | Equivalent value |
---|---|

£1 pound in 1790 | £1.01 pounds in 1792 |

£5 pounds in 1790 | £5.07 pounds in 1792 |

£10 pounds in 1790 | £10.13 pounds in 1792 |

£50 pounds in 1790 | £50.67 pounds in 1792 |

£100 pounds in 1790 | £101.33 pounds in 1792 |

£500 pounds in 1790 | £506.67 pounds in 1792 |

£1,000 pounds in 1790 | £1,013.33 pounds in 1792 |

£5,000 pounds in 1790 | £5,066.67 pounds in 1792 |

£10,000 pounds in 1790 | £10,133.33 pounds in 1792 |

£50,000 pounds in 1790 | £50,666.67 pounds in 1792 |

£100,000 pounds in 1790 | £101,333.33 pounds in 1792 |

£500,000 pounds in 1790 | £506,666.67 pounds in 1792 |

£1,000,000 pounds in 1790 | £1,013,333.33 pounds in 1792 |

Our calculations use the following inflation rate formula to calculate the change in value between 1790 and 1792:

CPI in 1792
CPI in 1790

×

1790 GBP value

=

1792 GBP value

Then plug in historical CPI values. The U.K. CPI was 7.5 in the year 1790 and 7.6 in 1792:

7.67.5

×

£1

=

£1 in 1790 has the same "purchasing power" or "buying power" as £1.01 in 1792.

To get the total inflation rate for the 2 years between 1790 and 1792, we use the following formula:

CPI in 1792 - CPI in 1790CPI in 1790

×

100

=

Plugging in the values to this equation, we get:

7.6 - 7.57.5

×

100

=

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

- George Washington, delivers his first State of the Union address as president.
- The Swedish navy capture a third of the Russian fleet in the Second Battle of Svensksund.
- Columbia Rediviva, returns to Boston, having become the first American ship to circumnavigate the world.
- Turkish fortress of Izmail, thought to be impenetrable, is captured by the Russians under the command of Suvorov.

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 1790 → 1792 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2021, https://www.officialdata.org/uk/inflation/1790?amount=1&endYear=1792.

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.

Cumulative price change | 1.33% |

Average inflation rate | 0.66% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1790 | 7.500 |

CPI in 1792 | 7.600 |

Inflation in 1790 | 1.35% |

Inflation in 1792 | 1.33% |

£1 in 1790 | £1.01 in 1792 |