£1 in 1855 is worth £0.97 in 1854

Value of £1 from 1855 to 1854

According to the Office for National Statistics composite price index, prices in 1854 are 2.86% lower than average prices since 1855. The British pound experienced an average inflation rate of 2.94% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1855 is equivalent in purchasing power to about £0.97 in 1854.

The 1854 inflation rate was 14.61%. The inflation rate in 1855 was 2.94%. The 1855 inflation rate is higher compared to the average inflation rate of 2.88% per year between 1855 and 2020.


Inflation from 1855 to 1854
Average inflation rate 2.94%
Converted amount (£1 base) £0.97
Price difference (£1 base) £-0.03
CPI in 1855 10.500
CPI in 1854 10.200
Inflation in 1854 14.61%
Inflation in 1855 2.94%

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

How to Calculate Inflation Rate for £1, 1854 to 1855

Our calculations use the following inflation rate formula to calculate the change in value between 1854 and 1855:

CPI in 1854 CPI in 1855
×
1855 GBP value
=
1854 GBP value

Then plug in historical CPI values. The U.K. CPI was 10.5 in the year 1855 and 10.2 in 1854:

10.210.5
×
£1
=
£0.97

£1 in 1855 has the same "purchasing power" or "buying power" as £0.97 in 1854.

To get the total inflation rate for the 1 years between 1854 and 1855, we use the following formula:

CPI in 1854 - CPI in 1855CPI in 1855
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

10.2 - 10.510.5
×
100
=
-3%

News headlines from 1854

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

  • David Livingstone visits the Victoria Falls, becoming the first European to see it.
  • Henry John Temple, Third Viscount Palmerston, forms a British government.
  • A train passes a railway suspension bridge at the Niagara Falls, US for the first time.
  • Kerosene is patented by Abraham Gesner.

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 1855 → 1854 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 Oct. 2020, https://www.officialdata.org/uk/inflation/1855?amount=1&endYear=1854.

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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Inflation from 1855 to 1854
Average inflation rate 2.94%
Converted amount (£1 base) £0.97
Price difference (£1 base) £-0.03
CPI in 1855 10.500
CPI in 1854 10.200
Inflation in 1854 14.61%
Inflation in 1855 2.94%