# £1 in 1844 is worth £127.89 today

£

## Value of £1 from 1844 to 2020

£1 in 1844 is equivalent in purchasing power to about £127.89 today, an increase of £126.89 over 176 years. The pound had an average inflation rate of 2.79% per year between 1844 and today, producing a cumulative price increase of 12,689.25%.

This means that today's prices are 127.89 times higher than average prices since 1844, according to the Office for National Statistics composite price index. A pound today only buys 0.78% of what it could buy back then.

The 1844 inflation rate was 0.00%. The current year-over-year inflation rate (2019 to 2020) is now 1.50%1. If this number holds, £1 today will be equivalent in buying power to £1.01 next year.

 Cumulative price change 12,689.25% Average inflation rate 2.79% Converted amount (£1 base) £127.89 Price difference (£1 base) £126.89 CPI in 1844 8.900 CPI in 2020 1,138.243 Inflation in 1844 0.00% Inflation in 2020 1.50% £1 in 1844 £127.89 in 2020

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

## Buying power of £1 in 1844

This chart shows a calculation of buying power equivalence for £1 in 1844 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £127.89 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £127.89 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 1844 dollars, the chart below shows how £1 is worth less over 176 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:

Pound inflation: 1844-2020
Year Pound Value Inflation Rate
1844 £1.00 -
1845 £1.04 4.49%
1846 £1.09 4.30%
1847 £1.22 12.37%
1848 £1.07 -12.84%
1849 £1.00 -6.32%
1850 £0.94 -5.62%
1851 £0.91 -3.57%
1852 £0.91 0.00%
1853 £1.00 9.88%
1854 £1.15 14.61%
1855 £1.18 2.94%
1856 £1.18 0.00%
1857 £1.12 -4.76%
1858 £1.02 -9.00%
1859 £1.01 -1.10%
1860 £1.04 3.33%
1861 £1.07 2.15%
1862 £1.04 -2.11%
1863 £1.01 -3.23%
1864 £1.00 -1.11%
1865 £1.01 1.12%
1866 £1.07 5.56%
1867 £1.13 6.32%
1868 £1.12 -0.99%
1869 £1.07 -5.00%
1870 £1.07 0.00%
1871 £1.08 1.05%
1872 £1.12 4.17%
1873 £1.17 4.00%
1874 £1.12 -3.85%
1875 £1.10 -2.00%
1876 £1.10 0.00%
1877 £1.09 -1.02%
1878 £1.07 -2.06%
1879 £1.02 -4.21%
1880 £1.06 3.30%
1881 £1.04 -1.06%
1882 £1.06 1.08%
1883 £1.04 -1.06%
1884 £1.02 -2.15%
1885 £0.99 -3.30%
1886 £0.98 -1.14%
1887 £0.97 -1.15%
1888 £0.98 1.16%
1889 £0.99 1.15%
1890 £0.99 0.00%
1891 £1.00 1.14%
1892 £1.00 0.00%
1893 £0.99 -1.12%
1894 £0.98 -1.14%
1895 £0.97 -1.15%
1896 £0.96 -1.16%
1897 £0.98 2.35%
1898 £0.98 0.00%
1899 £0.99 1.15%
1900 £1.03 4.55%
1901 £1.03 0.00%
1902 £1.03 0.00%
1903 £1.04 1.09%
1904 £1.04 0.00%
1905 £1.04 0.00%
1906 £1.04 0.00%
1907 £1.06 1.08%
1908 £1.06 0.00%
1909 £1.07 1.06%
1910 £1.08 1.05%
1911 £1.08 0.00%
1912 £1.11 3.13%
1913 £1.10 -1.01%
1914 £1.10 0.00%
1915 £1.24 12.24%
1916 £1.46 18.18%
1917 £1.83 25.38%
1918 £2.24 22.09%
1919 £2.46 10.05%
1920 £2.84 15.53%
1921 £2.60 -8.70%
1922 £2.24 -13.85%
1923 £2.10 -6.03%
1924 £2.09 -0.53%
1925 £2.09 0.00%
1926 £2.08 -0.54%
1927 £2.02 -2.70%
1928 £2.02 0.00%
1929 £2.00 -1.11%
1930 £1.94 -2.81%
1931 £1.87 -4.05%
1932 £1.82 -2.41%
1933 £1.78 -2.47%
1934 £1.78 0.00%
1935 £1.79 0.63%
1936 £1.80 0.63%
1937 £1.87 3.75%
1938 £1.89 1.20%
1939 £1.94 2.98%
1940 £2.27 16.76%
1941 £2.52 10.89%
1942 £2.70 7.14%
1943 £2.79 3.33%
1944 £2.87 2.82%
1945 £2.94 2.75%
1946 £3.03 3.05%
1947 £3.25 7.04%
1948 £3.49 7.61%
1949 £3.60 2.89%
1950 £3.71 3.13%
1951 £4.04 9.09%
1952 £4.42 9.17%
1953 £4.55 3.05%
1954 £4.64 1.98%
1955 £4.84 4.36%
1956 £5.09 5.10%
1957 £5.27 3.53%
1958 £5.44 3.20%
1959 £5.46 0.41%
1960 £5.52 1.03%
1961 £5.71 3.46%
1962 £5.96 4.33%
1963 £6.07 1.89%
1964 £6.27 3.33%
1965 £6.56 4.66%
1966 £6.82 3.94%
1967 £7.00 2.64%
1968 £7.33 4.65%
1969 £7.72 5.37%
1970 £8.21 6.40%
1971 £8.99 9.44%
1972 £9.63 7.13%
1973 £10.51 9.10%
1974 £12.19 16.04%
1975 £15.15 24.24%
1976 £17.65 16.54%
1977 £20.45 15.85%
1978 £22.15 8.30%
1979 £25.11 13.39%
1980 £29.63 17.99%
1981 £33.15 11.87%
1982 £36.00 8.61%
1983 £37.65 4.59%
1984 £39.53 4.98%
1985 £41.93 6.08%
1986 £43.36 3.40%
1987 £45.17 4.17%
1988 £47.38 4.90%
1989 £51.07 7.78%
1990 £55.90 9.46%
1991 £59.18 5.87%
1992 £61.39 3.74%
1993 £62.37 1.59%
1994 £63.88 2.41%
1995 £66.09 3.47%
1996 £67.69 2.41%
1997 £69.81 3.14%
1998 £72.20 3.43%
1999 £73.31 1.54%
2000 £75.48 2.96%
2001 £76.82 1.77%
2002 £78.10 1.67%
2003 £80.36 2.89%
2004 £82.75 2.98%
2005 £85.09 2.82%
2006 £87.81 3.20%
2007 £91.57 4.29%
2008 £95.22 3.99%
2009 £94.72 -0.53%
2010 £99.09 4.61%
2011 £104.25 5.20%
2012 £107.60 3.21%
2013 £110.87 3.04%
2014 £113.48 2.36%
2015 £114.61 0.99%
2016 £116.60 1.74%
2017 £120.78 3.58%
2018 £123.77 2.48%
2019 £126.00 1.80%
2020 £127.89 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 170 more rows

This conversion table shows various other 1844 amounts in today's pounds, based on the 12,689.25% change in prices:

Conversion: 1844 pounds today
Initial value Equivalent value
£1 pound in 1844 £127.89 pounds today
£5 pounds in 1844 £639.46 pounds today
£10 pounds in 1844 £1,278.93 pounds today
£50 pounds in 1844 £6,394.63 pounds today
£100 pounds in 1844 £12,789.25 pounds today
£500 pounds in 1844 £63,946.26 pounds today
£1,000 pounds in 1844 £127,892.51 pounds today
£5,000 pounds in 1844 £639,462.56 pounds today
£10,000 pounds in 1844 £1,278,925.12 pounds today
£50,000 pounds in 1844 £6,394,625.62 pounds today
£100,000 pounds in 1844 £12,789,251.24 pounds today
£500,000 pounds in 1844 £63,946,256.22 pounds today
£1,000,000 pounds in 1844 £127,892,512.44 pounds today

## How to Calculate Inflation Rate for £1 since 1844

Our calculations use the following inflation rate formula to calculate the change in value between 1844 and today:

CPI today CPI in 1844
×
1844 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 8.9 in the year 1844 and 1138.2433607545 in 2020:

1138.24336075458.9
×
£1
=
£127.89

£1 in 1844 has the same "purchasing power" or "buying power" as £127.89 in 2020.

To get the total inflation rate for the 176 years between 1844 and 2020, we use the following formula:

CPI in 2020 - CPI in 1844CPI in 1844
×
100
=
Cumulative inflation rate (176 years)

Plugging in the values to this equation, we get:

1138.2433607545 - 8.98.9
×
100
=
12,689%

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

• The World's first telegraph message containing "What hath God wrought", is sent by Samuel Morse.
• Discovery of Lake Tahoe in the US by a European, called John C. Fremont.
• Haiti gains its Independence from the Dominican Republic, now celebrated as their National Day.

## 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 1844 → 2020 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 11 Apr. 2021, https://www.officialdata.org/uk/inflation/1844?amount=1.

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.