£1 in 1860 is worth £0.97 in 1859

£

Value of £1 from 1860 to 1859

£1 in 1860 is equivalent in purchasing power to about £0.97 in 1859. The pound had an average inflation rate of 3.33% per year between 1859 and 1860, producing a cumulative price increase of -3.23%.

This means that prices in 1859 are 3.23% lower than average prices since 1860, according to the Office for National Statistics composite price index.

The 1859 inflation rate was -1.10%. 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.

 Average inflation rate 3.33% Converted amount (£1 base) £0.97 Price difference (£1 base) £-0.03 CPI in 1860 9.300 CPI in 1859 9.000 Inflation in 1859 -1.10% Inflation in 1860 3.33% £1 in 1860 £0.97 in 1859

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

How to Calculate Inflation Rate for £1, 1859 to 1860

Our calculations use the following inflation rate formula to calculate the change in value between 1859 and 1860:

CPI in 1859 CPI in 1860
×
1860 GBP value
=
1859 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1860 and 9 in 1859:

99.3
×
£1
=
£0.97

£1 in 1860 has the same "purchasing power" or "buying power" as £0.97 in 1859.

To get the total inflation rate for the 1 years between 1859 and 1860, we use the following formula:

CPI in 1859 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9 - 9.39.3
×
100
=
-3%

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 → 1859 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 May. 2021, https://www.officialdata.org/uk/inflation/1860?amount=1&endYear=1859.

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.