£1 in 1840 is worth £0.80 in 1843

Value of £1 from 1840 to 1843

£1 in 1840 is equivalent in purchasing power to about £0.80 in 1843, a difference of £-0.20 over 3 years. The pound had an average deflation rate of -7.10% per year since 1840, producing a cumulative price change of -19.82%.

This means that prices in 1843 are 19.82% lower than average prices since 1840, according to the Office for National Statistics composite price index.

The 1840 inflation rate was 1.83%. The inflation rate in 1843 was -11.00%. The 1843 inflation rate is lower compared to the average inflation rate of 2.79% per year between 1843 and 2021.


Inflation from 1840 to 1843
Cumulative price change -19.82%
Average inflation rate -7.10%
Converted amount (£1 base) £0.80
Price difference (£1 base) £-0.20
CPI in 1840 11.100
CPI in 1843 8.900
Inflation in 1840 1.83%
Inflation in 1843 -11.00%
£1 in 1840 £0.80 in 1843

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

Buying power of £1 in 1840

This chart shows a calculation of buying power equivalence for £1 in 1840 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £0.80 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:

Pound inflation: 1840-1843
Year Pound Value Inflation Rate
1840 £1.00 1.83%
1841 £0.98 -1.80%
1842 £0.90 -8.26%
1843 £0.80 -11.00%
1844 £0.80 0.00%
1845 £0.84 4.49%
1846 £0.87 4.30%
1847 £0.98 12.37%
1848 £0.86 -12.84%
1849 £0.80 -6.32%
1850 £0.76 -5.62%
1851 £0.73 -3.57%
1852 £0.73 0.00%
1853 £0.80 9.88%
1854 £0.92 14.61%
1855 £0.95 2.94%
1856 £0.95 0.00%
1857 £0.90 -4.76%
1858 £0.82 -9.00%
1859 £0.81 -1.10%
1860 £0.84 3.33%
1861 £0.86 2.15%
1862 £0.84 -2.11%
1863 £0.81 -3.23%
1864 £0.80 -1.11%
1865 £0.81 1.12%
1866 £0.86 5.56%
1867 £0.91 6.32%
1868 £0.90 -0.99%
1869 £0.86 -5.00%
1870 £0.86 0.00%
1871 £0.86 1.05%
1872 £0.90 4.17%
1873 £0.94 4.00%
1874 £0.90 -3.85%
1875 £0.88 -2.00%
1876 £0.88 0.00%
1877 £0.87 -1.02%
1878 £0.86 -2.06%
1879 £0.82 -4.21%
1880 £0.85 3.30%
1881 £0.84 -1.06%
1882 £0.85 1.08%
1883 £0.84 -1.06%
1884 £0.82 -2.15%
1885 £0.79 -3.30%
1886 £0.78 -1.14%
1887 £0.77 -1.15%
1888 £0.78 1.16%
1889 £0.79 1.15%
1890 £0.79 0.00%
1891 £0.80 1.14%
1892 £0.80 0.00%
1893 £0.79 -1.12%
1894 £0.78 -1.14%
1895 £0.77 -1.15%
1896 £0.77 -1.16%
1897 £0.78 2.35%
1898 £0.78 0.00%
1899 £0.79 1.15%
1900 £0.83 4.55%
1901 £0.83 0.00%
1902 £0.83 0.00%
1903 £0.84 1.09%
1904 £0.84 0.00%
1905 £0.84 0.00%
1906 £0.84 0.00%
1907 £0.85 1.08%
1908 £0.85 0.00%
1909 £0.86 1.06%
1910 £0.86 1.05%
1911 £0.86 0.00%
1912 £0.89 3.13%
1913 £0.88 -1.01%
1914 £0.88 0.00%
1915 £0.99 12.24%
1916 £1.17 18.18%
1917 £1.47 25.38%
1918 £1.79 22.09%
1919 £1.97 10.05%
1920 £2.28 15.53%
1921 £2.08 -8.70%
1922 £1.79 -13.85%
1923 £1.68 -6.03%
1924 £1.68 -0.53%
1925 £1.68 0.00%
1926 £1.67 -0.54%
1927 £1.62 -2.70%
1928 £1.62 0.00%
1929 £1.60 -1.11%
1930 £1.56 -2.81%
1931 £1.50 -4.05%
1932 £1.46 -2.41%
1933 £1.42 -2.47%
1934 £1.42 0.00%
1935 £1.43 0.63%
1936 £1.44 0.63%
1937 £1.50 3.75%
1938 £1.51 1.20%
1939 £1.56 2.98%
1940 £1.82 16.76%
1941 £2.02 10.89%
1942 £2.16 7.14%
1943 £2.23 3.33%
1944 £2.30 2.82%
1945 £2.36 2.75%
1946 £2.43 3.05%
1947 £2.60 7.04%
1948 £2.80 7.61%
1949 £2.88 2.89%
1950 £2.97 3.13%
1951 £3.24 9.09%
1952 £3.54 9.17%
1953 £3.65 3.05%
1954 £3.72 1.98%
1955 £3.88 4.36%
1956 £4.08 5.10%
1957 £4.23 3.53%
1958 £4.36 3.20%
1959 £4.38 0.41%
1960 £4.42 1.03%
1961 £4.58 3.46%
1962 £4.77 4.33%
1963 £4.86 1.89%
1964 £5.03 3.33%
1965 £5.26 4.66%
1966 £5.47 3.94%
1967 £5.61 2.64%
1968 £5.87 4.65%
1969 £6.19 5.37%
1970 £6.59 6.40%
1971 £7.21 9.44%
1972 £7.72 7.13%
1973 £8.42 9.10%
1974 £9.77 16.04%
1975 £12.14 24.24%
1976 £14.15 16.54%
1977 £16.40 15.85%
1978 £17.76 8.30%
1979 £20.14 13.39%
1980 £23.76 17.99%
1981 £26.58 11.87%
1982 £28.86 8.61%
1983 £30.19 4.59%
1984 £31.69 4.98%
1985 £33.62 6.08%
1986 £34.77 3.40%
1987 £36.22 4.17%
1988 £37.99 4.90%
1989 £40.95 7.78%
1990 £44.82 9.46%
1991 £47.45 5.87%
1992 £49.23 3.74%
1993 £50.01 1.59%
1994 £51.22 2.41%
1995 £52.99 3.47%
1996 £54.27 2.41%
1997 £55.97 3.14%
1998 £57.89 3.43%
1999 £58.78 1.54%
2000 £60.52 2.96%
2001 £61.59 1.77%
2002 £62.62 1.67%
2003 £64.43 2.89%
2004 £66.35 2.98%
2005 £68.23 2.82%
2006 £70.41 3.20%
2007 £73.42 4.29%
2008 £76.35 3.99%
2009 £75.95 -0.53%
2010 £79.45 4.61%
2011 £83.59 5.20%
2012 £86.27 3.21%
2013 £88.89 3.04%
2014 £90.99 2.36%
2015 £91.89 0.99%
2016 £93.49 1.74%
2017 £96.84 3.58%
2018 £99.45 2.70%
2019 £101.94 2.50%
2020 £103.77 1.80%
2021 £106.99 3.10%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1840 amounts in 1843 pounds, based on the -19.82% change in prices:

Conversion: 1840 pounds in 1843
Initial value Equivalent value
£1 pound in 1840 £0.80 pounds in 1843
£5 pounds in 1840 £4.01 pounds in 1843
£10 pounds in 1840 £8.02 pounds in 1843
£50 pounds in 1840 £40.09 pounds in 1843
£100 pounds in 1840 £80.18 pounds in 1843
£500 pounds in 1840 £400.90 pounds in 1843
£1,000 pounds in 1840 £801.80 pounds in 1843
£5,000 pounds in 1840 £4,009.01 pounds in 1843
£10,000 pounds in 1840 £8,018.02 pounds in 1843
£50,000 pounds in 1840 £40,090.09 pounds in 1843
£100,000 pounds in 1840 £80,180.18 pounds in 1843
£500,000 pounds in 1840 £400,900.90 pounds in 1843
£1,000,000 pounds in 1840 £801,801.80 pounds in 1843

How to Calculate Inflation Rate for £1, 1840 to 1843

Our calculations use the following inflation rate formula to calculate the change in value between 1840 and 1843:

CPI in 1843 CPI in 1840
×
1840 GBP value
=
1843 GBP value

Then plug in historical CPI values. The U.K. CPI was 11.1 in the year 1840 and 8.9 in 1843:

8.911.1
×
£1
=
£0.80

£1 in 1840 has the same "purchasing power" or "buying power" as £0.80 in 1843.

To get the total inflation rate for the 3 years between 1840 and 1843, we use the following formula:

CPI in 1843 - CPI in 1840CPI in 1840
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

8.9 - 11.111.1
×
100
=
-20%

News headlines from 1840

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 → 1843 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Dec. 2021, https://www.officialdata.org/uk/inflation/1840?amount=1&endYear=1843.

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 1840 to 1843
Cumulative price change -19.82%
Average inflation rate -7.10%
Converted amount (£1 base) £0.80
Price difference (£1 base) £-0.20
CPI in 1840 11.100
CPI in 1843 8.900
Inflation in 1840 1.83%
Inflation in 1843 -11.00%
£1 in 1840 £0.80 in 1843