# £1 in 1840 → £0.91 in 1837

## UK Inflation Calculator

£

### U.K. Inflation Rate, £1 from 1840 to 1837

According to the Office for National Statistics composite price index, prices in 1837 are 9.01% lower than average prices since 1840. The British pound experienced an average inflation rate of 3.20% per year during this period, meaning the real value of a pound decreased.

In other words, £1 in 1840 is equivalent in purchasing power to about £0.91 in 1837, a difference of £-0.09 over 3 years.

The 1837 inflation rate was 2.02%. The inflation rate in 1840 was 1.83%. The 1840 inflation rate is lower compared to the average inflation rate of 2.61% per year between 1840 and 2020.

 Cumulative price change -9.01% Average inflation rate 3.20% Converted amount (£1 base) £0.91 Price difference (£1 base) £-0.09 CPI in 1840 11.100 CPI in 1837 10.100 Inflation in 1837 2.02% Inflation in 1840 1.83%

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

### Buying power of £1 in 1837

This chart shows a calculation of buying power equivalence for £1 in 1837 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £0.91 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £0.91 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 1837 dollars, the chart below shows how £1 buys less over the past 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:

Year Pound Value Inflation Rate
1837 £1.00 2.02%
1838 £1.01 0.99%
1839 £1.08 6.86%
1840 £1.10 1.83%
1841 £1.08 -1.80%
1842 £0.99 -8.26%
1843 £0.88 -11.00%
1844 £0.88 0.00%
1845 £0.92 4.49%
1846 £0.96 4.30%
1847 £1.08 12.37%
1848 £0.94 -12.84%
1849 £0.88 -6.32%
1850 £0.83 -5.62%
1851 £0.80 -3.57%
1852 £0.80 0.00%
1853 £0.88 9.88%
1854 £1.01 14.61%
1855 £1.04 2.94%
1856 £1.04 0.00%
1857 £0.99 -4.76%
1858 £0.90 -9.00%
1859 £0.89 -1.10%
1860 £0.92 3.33%
1861 £0.94 2.15%
1862 £0.92 -2.11%
1863 £0.89 -3.23%
1864 £0.88 -1.11%
1865 £0.89 1.12%
1866 £0.94 5.56%
1867 £1.00 6.32%
1868 £0.99 -0.99%
1869 £0.94 -5.00%
1870 £0.94 0.00%
1871 £0.95 1.05%
1872 £0.99 4.17%
1873 £1.03 4.00%
1874 £0.99 -3.85%
1875 £0.97 -2.00%
1876 £0.97 0.00%
1877 £0.96 -1.02%
1878 £0.94 -2.06%
1879 £0.90 -4.21%
1880 £0.93 3.30%
1881 £0.92 -1.06%
1882 £0.93 1.08%
1883 £0.92 -1.06%
1884 £0.90 -2.15%
1885 £0.87 -3.30%
1886 £0.86 -1.14%
1887 £0.85 -1.15%
1888 £0.86 1.16%
1889 £0.87 1.15%
1890 £0.87 0.00%
1891 £0.88 1.14%
1892 £0.88 0.00%
1893 £0.87 -1.12%
1894 £0.86 -1.14%
1895 £0.85 -1.15%
1896 £0.84 -1.16%
1897 £0.86 2.35%
1898 £0.86 0.00%
1899 £0.87 1.15%
1900 £0.91 4.55%
1901 £0.91 0.00%
1902 £0.91 0.00%
1903 £0.92 1.09%
1904 £0.92 0.00%
1905 £0.92 0.00%
1906 £0.92 0.00%
1907 £0.93 1.08%
1908 £0.93 0.00%
1909 £0.94 1.06%
1910 £0.95 1.05%
1911 £0.95 0.00%
1912 £0.98 3.13%
1913 £0.97 -1.01%
1914 £0.97 0.00%
1915 £1.09 12.24%
1916 £1.29 18.18%
1917 £1.61 25.38%
1918 £1.97 22.09%
1919 £2.17 10.05%
1920 £2.50 15.53%
1921 £2.29 -8.70%
1922 £1.97 -13.85%
1923 £1.85 -6.03%
1924 £1.84 -0.53%
1925 £1.84 0.00%
1926 £1.83 -0.54%
1927 £1.78 -2.70%
1928 £1.78 0.00%
1929 £1.76 -1.11%
1930 £1.71 -2.81%
1931 £1.64 -4.05%
1932 £1.60 -2.41%
1933 £1.56 -2.47%
1934 £1.56 0.00%
1935 £1.57 0.63%
1936 £1.58 0.63%
1937 £1.64 3.75%
1938 £1.66 1.20%
1939 £1.71 2.98%
1940 £2.00 16.76%
1941 £2.22 10.89%
1942 £2.38 7.14%
1943 £2.46 3.33%
1944 £2.52 2.82%
1945 £2.59 2.75%
1946 £2.67 3.05%
1947 £2.86 7.04%
1948 £3.08 7.61%
1949 £3.17 2.89%
1950 £3.27 3.13%
1951 £3.56 9.09%
1952 £3.89 9.17%
1953 £4.01 3.05%
1954 £4.09 1.98%
1955 £4.27 4.36%
1956 £4.49 5.10%
1957 £4.64 3.53%
1958 £4.79 3.20%
1959 £4.81 0.41%
1960 £4.86 1.03%
1961 £5.03 3.46%
1962 £5.25 4.33%
1963 £5.35 1.89%
1964 £5.52 3.33%
1965 £5.78 4.66%
1966 £6.01 3.94%
1967 £6.17 2.64%
1968 £6.46 4.65%
1969 £6.80 5.37%
1970 £7.24 6.40%
1971 £7.92 9.44%
1972 £8.49 7.13%
1973 £9.26 9.10%
1974 £10.74 16.04%
1975 £13.35 24.24%
1976 £15.55 16.54%
1977 £18.02 15.85%
1978 £19.51 8.30%
1979 £22.13 13.39%
1980 £26.11 17.99%
1981 £29.21 11.87%
1982 £31.72 8.61%
1983 £33.18 4.59%
1984 £34.83 4.98%
1985 £36.95 6.08%
1986 £38.21 3.40%
1987 £39.80 4.17%
1988 £41.75 4.90%
1989 £45.00 7.78%
1990 £49.26 9.46%
1991 £52.15 5.87%
1992 £54.10 3.74%
1993 £54.96 1.59%
1994 £56.29 2.41%
1995 £58.24 3.47%
1996 £59.64 2.41%
1997 £61.51 3.14%
1998 £63.62 3.43%
1999 £64.60 1.54%
2000 £66.51 2.96%
2001 £67.69 1.77%
2002 £68.82 1.67%
2003 £70.81 2.89%
2004 £72.92 2.98%
2005 £74.98 2.82%
2006 £77.38 3.20%
2007 £80.69 4.29%
2008 £83.91 3.99%
2009 £83.47 -0.53%
2010 £87.32 4.61%
2011 £91.86 5.20%
2012 £94.81 3.21%
2013 £97.69 3.04%
2014 £100.00 2.36%
2015 £100.99 0.99%
2016 £102.74 1.74%
2017 £106.43 3.58%
2018 £109.07 2.48%
2019 £111.03 1.80%
2020 £112.70 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

### How to Calculate Inflation Rate for £1, 1837 to 1840

This inflation calculator uses the following inflation rate formula:

CPI in 1837CPI in 1840
×
1840 GBP value
=
1837 GBP value

Then plug in historical CPI values. The U.K. CPI was 11.1 in the year 1840 and 10.1 in 1837:

10.111.1
×
£1
=
£0.91

£1 in 1840 has the same "purchasing power" or "buying power" as £0.91 in 1837.

To get the total inflation rate for the 3 years between 1837 and 1840, we use the following formula:

CPI in 1837 - CPI in 1840CPI in 1840
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

10.1 - 11.111.1
×
100
=
-9%

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

• Identification of Antarctica as a new continent by American naval expedition lead by Charles Wilkes.
• Charles Wilkes discovers Antarctica in an American naval expedition.
• Charles Wilkes discovers the Shackleton Ice Shelf in Antarctica.
• The world’s first postage stamp, the Penny Black, is released.
• Samuel Morse patents the telegraph.

### 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 1840 → 1837 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Feb. 2020, https://www.officialdata.org/uk/inflation/1840?amount=1&endYear=1837.