£1 in 1860 is worth £1.13 in 1856

Value of £1 from 1860 to 1856

£1 in 1860 is equivalent in purchasing power to about £1.13 in 1856, a difference of £0.13 over 4 years. The pound had an average deflation rate of -2.99% per year since 1856, producing a cumulative price change of 12.90%.

This means that prices in 1856 are 1.13 times higher than average prices since 1860, according to the Office for National Statistics composite price index.

The 1856 inflation rate was 0.00%. The inflation rate in 1860 was 3.33%. The 1860 inflation rate is higher compared to the average inflation rate of 3.04% per year between 1860 and 2021.


Inflation from 1860 to 1856
Cumulative price change 12.90%
Average inflation rate -2.99%
Converted amount (£1 base) £1.13
Price difference (£1 base) £0.13
CPI in 1860 9.300
CPI in 1856 10.500
Inflation in 1856 0.00%
Inflation in 1860 3.33%
£1 in 1860 £1.13 in 1856

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

Buying power of £1 in 1856

This chart shows a calculation of buying power equivalence for £1 in 1856 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.13 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: 1856-1860
Year Pound Value Inflation Rate
1856 £1.00 -
1857 £0.95 -4.76%
1858 £0.87 -9.00%
1859 £0.86 -1.10%
1860 £0.89 3.33%
1861 £0.90 2.15%
1862 £0.89 -2.11%
1863 £0.86 -3.23%
1864 £0.85 -1.11%
1865 £0.86 1.12%
1866 £0.90 5.56%
1867 £0.96 6.32%
1868 £0.95 -0.99%
1869 £0.90 -5.00%
1870 £0.90 0.00%
1871 £0.91 1.05%
1872 £0.95 4.17%
1873 £0.99 4.00%
1874 £0.95 -3.85%
1875 £0.93 -2.00%
1876 £0.93 0.00%
1877 £0.92 -1.02%
1878 £0.90 -2.06%
1879 £0.87 -4.21%
1880 £0.90 3.30%
1881 £0.89 -1.06%
1882 £0.90 1.08%
1883 £0.89 -1.06%
1884 £0.87 -2.15%
1885 £0.84 -3.30%
1886 £0.83 -1.14%
1887 £0.82 -1.15%
1888 £0.83 1.16%
1889 £0.84 1.15%
1890 £0.84 0.00%
1891 £0.85 1.14%
1892 £0.85 0.00%
1893 £0.84 -1.12%
1894 £0.83 -1.14%
1895 £0.82 -1.15%
1896 £0.81 -1.16%
1897 £0.83 2.35%
1898 £0.83 0.00%
1899 £0.84 1.15%
1900 £0.88 4.55%
1901 £0.88 0.00%
1902 £0.88 0.00%
1903 £0.89 1.09%
1904 £0.89 0.00%
1905 £0.89 0.00%
1906 £0.89 0.00%
1907 £0.90 1.08%
1908 £0.90 0.00%
1909 £0.90 1.06%
1910 £0.91 1.05%
1911 £0.91 0.00%
1912 £0.94 3.13%
1913 £0.93 -1.01%
1914 £0.93 0.00%
1915 £1.05 12.24%
1916 £1.24 18.18%
1917 £1.55 25.38%
1918 £1.90 22.09%
1919 £2.09 10.05%
1920 £2.41 15.53%
1921 £2.20 -8.70%
1922 £1.90 -13.85%
1923 £1.78 -6.03%
1924 £1.77 -0.53%
1925 £1.77 0.00%
1926 £1.76 -0.54%
1927 £1.71 -2.70%
1928 £1.71 0.00%
1929 £1.70 -1.11%
1930 £1.65 -2.81%
1931 £1.58 -4.05%
1932 £1.54 -2.41%
1933 £1.50 -2.47%
1934 £1.50 0.00%
1935 £1.51 0.63%
1936 £1.52 0.63%
1937 £1.58 3.75%
1938 £1.60 1.20%
1939 £1.65 2.98%
1940 £1.92 16.76%
1941 £2.13 10.89%
1942 £2.29 7.14%
1943 £2.36 3.33%
1944 £2.43 2.82%
1945 £2.50 2.75%
1946 £2.57 3.05%
1947 £2.75 7.04%
1948 £2.96 7.61%
1949 £3.05 2.89%
1950 £3.14 3.13%
1951 £3.43 9.09%
1952 £3.74 9.17%
1953 £3.86 3.05%
1954 £3.93 1.98%
1955 £4.10 4.36%
1956 £4.31 5.10%
1957 £4.47 3.53%
1958 £4.61 3.20%
1959 £4.63 0.41%
1960 £4.68 1.03%
1961 £4.84 3.46%
1962 £5.05 4.33%
1963 £5.14 1.89%
1964 £5.31 3.33%
1965 £5.56 4.66%
1966 £5.78 3.94%
1967 £5.93 2.64%
1968 £6.21 4.65%
1969 £6.54 5.37%
1970 £6.96 6.40%
1971 £7.62 9.44%
1972 £8.16 7.13%
1973 £8.90 9.10%
1974 £10.33 16.04%
1975 £12.84 24.24%
1976 £14.96 16.54%
1977 £17.33 15.85%
1978 £18.77 8.30%
1979 £21.29 13.39%
1980 £25.11 17.99%
1981 £28.10 11.87%
1982 £30.51 8.61%
1983 £31.91 4.59%
1984 £33.50 4.98%
1985 £35.54 6.08%
1986 £36.75 3.40%
1987 £38.29 4.17%
1988 £40.16 4.90%
1989 £43.29 7.78%
1990 £47.38 9.46%
1991 £50.16 5.87%
1992 £52.04 3.74%
1993 £52.87 1.59%
1994 £54.14 2.41%
1995 £56.02 3.47%
1996 £57.37 2.41%
1997 £59.17 3.14%
1998 £61.20 3.43%
1999 £62.14 1.54%
2000 £63.98 2.96%
2001 £65.11 1.77%
2002 £66.20 1.67%
2003 £68.11 2.89%
2004 £70.14 2.98%
2005 £72.12 2.82%
2006 £74.43 3.20%
2007 £77.62 4.29%
2008 £80.71 3.99%
2009 £80.29 -0.53%
2010 £83.99 4.61%
2011 £88.36 5.20%
2012 £91.20 3.21%
2013 £93.97 3.04%
2014 £96.19 2.36%
2015 £97.14 0.99%
2016 £98.83 1.74%
2017 £102.37 3.58%
2018 £105.14 2.70%
2019 £107.76 2.50%
2020 £109.70 1.80%
2021 £110.47 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1856 amounts in 1860 pounds, based on the 12.90% change in prices:

Conversion: 1856 pounds in 1860
Initial value Equivalent value
£1 pound in 1856 £0.89 pounds in 1860
£5 pounds in 1856 £4.43 pounds in 1860
£10 pounds in 1856 £8.86 pounds in 1860
£50 pounds in 1856 £44.29 pounds in 1860
£100 pounds in 1856 £88.57 pounds in 1860
£500 pounds in 1856 £442.86 pounds in 1860
£1,000 pounds in 1856 £885.71 pounds in 1860
£5,000 pounds in 1856 £4,428.57 pounds in 1860
£10,000 pounds in 1856 £8,857.14 pounds in 1860
£50,000 pounds in 1856 £44,285.71 pounds in 1860
£100,000 pounds in 1856 £88,571.43 pounds in 1860
£500,000 pounds in 1856 £442,857.14 pounds in 1860
£1,000,000 pounds in 1856 £885,714.29 pounds in 1860

How to Calculate Inflation Rate for £1, 1856 to 1860

Our calculations use the following inflation rate formula to calculate the change in value between 1856 and 1860:

CPI in 1856 CPI in 1860
×
1860 GBP value
=
1856 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1860 and 10.5 in 1856:

10.59.3
×
£1
=
£1.13

£1 in 1860 has the same "purchasing power" or "buying power" as £1.13 in 1856.

To get the total inflation rate for the 4 years between 1856 and 1860, we use the following formula:

CPI in 1856 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

10.5 - 9.39.3
×
100
=
13%

News headlines from 1856

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

  • Abraham Lincoln becomes the 16th President of the U.S.
  • Slavery ends in the Dutch East Indies.

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 1860 → 1856 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Oct. 2021, https://www.officialdata.org/uk/inflation/1860?amount=1&endYear=1856.

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 1860 to 1856
Cumulative price change 12.90%
Average inflation rate -2.99%
Converted amount (£1 base) £1.13
Price difference (£1 base) £0.13
CPI in 1860 9.300
CPI in 1856 10.500
Inflation in 1856 0.00%
Inflation in 1860 3.33%
£1 in 1860 £1.13 in 1856