Value of £1 from 1820 to 1824
£1 in 1820 is equivalent in purchasing power to about £0.88 in 1824, a difference of £-0.12 over 4 years. The pound had an average deflation rate of -3.14% per year since 1820, producing a cumulative price change of -11.97%.
This means that prices in 1824 are 11.97% lower than average prices since 1820, according to the Office for National Statistics composite price index.
The inflation rate in 1820 was -9.30%. The inflation rate in 1824 was 8.42%. The 1824 inflation rate is higher compared to the average inflation rate of 2.49% per year between 1824 and 2024.
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| Cumulative price change | -11.97% |
| Average inflation rate | -3.14% |
| Converted amount £1 base | £0.88 |
| Price difference £1 base | £-0.12 |
| CPI in 1820 | 11.700 |
| CPI in 1824 | 10.300 |
| Inflation in 1820 | -9.30% |
| Inflation in 1824 | 8.42% |
| £1 in 1820 | £0.88 in 1824 |
Buying power of £1 in 1820
This chart shows a calculation of buying power equivalence for £1 in 1820 (price index tracking began in 1750).
For example, if you started with £1, you would need to end with £0.88 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:
This conversion table shows various other 1820 amounts in 1824 pounds, based on the -11.97% change in prices:
| Initial value | Equivalent value |
|---|---|
| £1 pound in 1820 | £0.88 pounds in 1824 |
| £5 pounds in 1820 | £4.40 pounds in 1824 |
| £10 pounds in 1820 | £8.80 pounds in 1824 |
| £50 pounds in 1820 | £44.02 pounds in 1824 |
| £100 pounds in 1820 | £88.03 pounds in 1824 |
| £500 pounds in 1820 | £440.17 pounds in 1824 |
| £1,000 pounds in 1820 | £880.34 pounds in 1824 |
| £5,000 pounds in 1820 | £4,401.71 pounds in 1824 |
| £10,000 pounds in 1820 | £8,803.42 pounds in 1824 |
| £50,000 pounds in 1820 | £44,017.09 pounds in 1824 |
| £100,000 pounds in 1820 | £88,034.19 pounds in 1824 |
| £500,000 pounds in 1820 | £440,170.94 pounds in 1824 |
| £1,000,000 pounds in 1820 | £880,341.88 pounds in 1824 |
How to calculate inflation rate for £1, 1820 to 1824
Our calculations use the following inflation rate formula to calculate the change in value between 1820 and 1824:
CPI in 1824 CPI in 1820
×
1820 GBP value
=
1824 GBP value
Then plug in historical CPI values. The U.K. CPI was 11.7 in the year 1820 and 10.3 in 1824:
10.311.7
×
£1
=
£0.88
£1 in 1820 has the same "purchasing power" or "buying power" as £0.88 in 1824.
To get the total inflation rate for the 4 years between 1820 and 1824, we use the following formula:
CPI in 1824 - CPI in 1820CPI in 1820
×
100
=
Cumulative inflation rate (4 years)
Plugging in the values to this equation, we get:
10.3 - 11.711.7
×
100
=
-12%
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 the current year, which is based on The Bank of England's forecast.
You may use the following MLA citation for this page: “£1 in 1820 → 1824 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Apr. 2024, https://www.officialdata.org/uk/inflation/1820?amount=1&endYear=1824.
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 | -11.97% |
| Average inflation rate | -3.14% |
| Converted amount £1 base | £0.88 |
| Price difference £1 base | £-0.12 |
| CPI in 1820 | 11.700 |
| CPI in 1824 | 10.300 |
| Inflation in 1820 | -9.30% |
| Inflation in 1824 | 8.42% |
| £1 in 1820 | £0.88 in 1824 |