£1 in 1835 is equivalent in purchasing power to about £1.15 in 1838, an increase of £0.15 over 3 years. The pound had an average inflation rate of 4.65% per year between 1835 and 1838, producing a cumulative price increase of 14.61%.

This means that prices in 1838 are 1.15 times higher than average prices since 1835, according to the Office for National Statistics composite price index.

The 1835 inflation rate was 2.30%. The inflation rate in 1838 was 0.99%. The 1838 inflation rate is lower compared to the average inflation rate of 2.62% per year between 1838 and 2021.

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Cumulative price change | 14.61% |

Average inflation rate | 4.65% |

Converted amount (£1 base) | £1.15 |

Price difference (£1 base) | £0.15 |

CPI in 1835 | 8.900 |

CPI in 1838 | 10.200 |

Inflation in 1835 | 2.30% |

Inflation in 1838 | 0.99% |

£1 in 1835 | £1.15 in 1838 |

This chart shows a calculation of buying power equivalence for £1 in 1835 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.15 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.15 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 1835 dollars, the chart below shows how £1 is worth less over 3 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 1835 amounts in 1838 pounds, based on the 14.61% change in prices:

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

£1 pound in 1835 | £1.15 pounds in 1838 |

£5 pounds in 1835 | £5.73 pounds in 1838 |

£10 pounds in 1835 | £11.46 pounds in 1838 |

£50 pounds in 1835 | £57.30 pounds in 1838 |

£100 pounds in 1835 | £114.61 pounds in 1838 |

£500 pounds in 1835 | £573.03 pounds in 1838 |

£1,000 pounds in 1835 | £1,146.07 pounds in 1838 |

£5,000 pounds in 1835 | £5,730.34 pounds in 1838 |

£10,000 pounds in 1835 | £11,460.67 pounds in 1838 |

£50,000 pounds in 1835 | £57,303.37 pounds in 1838 |

£100,000 pounds in 1835 | £114,606.74 pounds in 1838 |

£500,000 pounds in 1835 | £573,033.71 pounds in 1838 |

£1,000,000 pounds in 1835 | £1,146,067.42 pounds in 1838 |

Our calculations use the following inflation rate formula to calculate the change in value between 1835 and 1838:

CPI in 1838
CPI in 1835

×

1835 GBP value

=

1838 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.9 in the year 1835 and 10.2 in 1838:

10.28.9

×

£1

=

£1 in 1835 has the same "purchasing power" or "buying power" as £1.15 in 1838.

To get the total inflation rate for the 3 years between 1835 and 1838, we use the following formula:

CPI in 1838 - CPI in 1835CPI in 1835

×

100

=

Plugging in the values to this equation, we get:

10.2 - 8.98.9

×

100

=

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

- Richard Lawrence fails in the first documented presidential assassination attempt after he misfired at President Andrew Jackson
- National debt of the United States is officially zero: the only time that it has been that way in history.
- Signing of the New Echota Treaty, followed by the conceding of all the Cherokee Indian lands east of the Mississippi River to the US

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 1835 → 1838 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2021, https://www.officialdata.org/uk/inflation/1835?amount=1&endYear=1838.

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 | 14.61% |

Average inflation rate | 4.65% |

Converted amount (£1 base) | £1.15 |

Price difference (£1 base) | £0.15 |

CPI in 1835 | 8.900 |

CPI in 1838 | 10.200 |

Inflation in 1835 | 2.30% |

Inflation in 1838 | 0.99% |

£1 in 1835 | £1.15 in 1838 |