# £1 in 1860 is worth £1 in 1862

£

## Value of £1 from 1860 to 1862

£1 in 1860 is equivalent in purchasing power to about £1 in 1862, an increase of £0.00 over 2 years. The pound had an average inflation rate of 0.00% per year between 1860 and 1862, producing a cumulative price increase of 0.00%.

The 1860 inflation rate was 3.33%. The inflation rate in 1862 was -2.11%. The 1862 inflation rate is lower compared to the average inflation rate of 3.08% per year between 1862 and 2021.

 Average inflation rate 0.00% Converted amount (£1 base) £1 Price difference (£1 base) £0.00 CPI in 1860 9.300 CPI in 1862 9.300 Inflation in 1860 3.33% Inflation in 1862 -2.11% £1 in 1860 £1 in 1862

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

## Buying power of £1 in 1860

This chart shows a calculation of buying power equivalence for £1 in 1860 (price index tracking began in 1750).

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

When £1 is equivalent to £1 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 1860 dollars, the chart below shows how £1 is worth less over 2 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: 1860-1862
Year Pound Value Inflation Rate
1860 £1.00 3.33%
1861 £1.02 2.15%
1862 £1.00 -2.11%
1863 £0.97 -3.23%
1864 £0.96 -1.11%
1865 £0.97 1.12%
1866 £1.02 5.56%
1867 £1.09 6.32%
1868 £1.08 -0.99%
1869 £1.02 -5.00%
1870 £1.02 0.00%
1871 £1.03 1.05%
1872 £1.08 4.17%
1873 £1.12 4.00%
1874 £1.08 -3.85%
1875 £1.05 -2.00%
1876 £1.05 0.00%
1877 £1.04 -1.02%
1878 £1.02 -2.06%
1879 £0.98 -4.21%
1880 £1.01 3.30%
1881 £1.00 -1.06%
1882 £1.01 1.08%
1883 £1.00 -1.06%
1884 £0.98 -2.15%
1885 £0.95 -3.30%
1886 £0.94 -1.14%
1887 £0.92 -1.15%
1888 £0.94 1.16%
1889 £0.95 1.15%
1890 £0.95 0.00%
1891 £0.96 1.14%
1892 £0.96 0.00%
1893 £0.95 -1.12%
1894 £0.94 -1.14%
1895 £0.92 -1.15%
1896 £0.91 -1.16%
1897 £0.94 2.35%
1898 £0.94 0.00%
1899 £0.95 1.15%
1900 £0.99 4.55%
1901 £0.99 0.00%
1902 £0.99 0.00%
1903 £1.00 1.09%
1904 £1.00 0.00%
1905 £1.00 0.00%
1906 £1.00 0.00%
1907 £1.01 1.08%
1908 £1.01 0.00%
1909 £1.02 1.06%
1910 £1.03 1.05%
1911 £1.03 0.00%
1912 £1.06 3.13%
1913 £1.05 -1.01%
1914 £1.05 0.00%
1915 £1.18 12.24%
1916 £1.40 18.18%
1917 £1.75 25.38%
1918 £2.14 22.09%
1919 £2.35 10.05%
1920 £2.72 15.53%
1921 £2.48 -8.70%
1922 £2.14 -13.85%
1923 £2.01 -6.03%
1924 £2.00 -0.53%
1925 £2.00 0.00%
1926 £1.99 -0.54%
1927 £1.94 -2.70%
1928 £1.94 0.00%
1929 £1.91 -1.11%
1930 £1.86 -2.81%
1931 £1.78 -4.05%
1932 £1.74 -2.41%
1933 £1.70 -2.47%
1934 £1.70 0.00%
1935 £1.71 0.63%
1936 £1.72 0.63%
1937 £1.78 3.75%
1938 £1.81 1.20%
1939 £1.86 2.98%
1940 £2.17 16.76%
1941 £2.41 10.89%
1942 £2.58 7.14%
1943 £2.67 3.33%
1944 £2.74 2.82%
1945 £2.82 2.75%
1946 £2.90 3.05%
1947 £3.11 7.04%
1948 £3.34 7.61%
1949 £3.44 2.89%
1950 £3.55 3.13%
1951 £3.87 9.09%
1952 £4.23 9.17%
1953 £4.35 3.05%
1954 £4.44 1.98%
1955 £4.63 4.36%
1956 £4.87 5.10%
1957 £5.04 3.53%
1958 £5.20 3.20%
1959 £5.23 0.41%
1960 £5.28 1.03%
1961 £5.46 3.46%
1962 £5.70 4.33%
1963 £5.81 1.89%
1964 £6.00 3.33%
1965 £6.28 4.66%
1966 £6.53 3.94%
1967 £6.70 2.64%
1968 £7.01 4.65%
1969 £7.39 5.37%
1970 £7.86 6.40%
1971 £8.60 9.44%
1972 £9.22 7.13%
1973 £10.05 9.10%
1974 £11.67 16.04%
1975 £14.49 24.24%
1976 £16.89 16.54%
1977 £19.57 15.85%
1978 £21.19 8.30%
1979 £24.03 13.39%
1980 £28.35 17.99%
1981 £31.72 11.87%
1982 £34.45 8.61%
1983 £36.03 4.59%
1984 £37.83 4.98%
1985 £40.13 6.08%
1986 £41.49 3.40%
1987 £43.23 4.17%
1988 £45.34 4.90%
1989 £48.87 7.78%
1990 £53.49 9.46%
1991 £56.63 5.87%
1992 £58.75 3.74%
1993 £59.69 1.59%
1994 £61.13 2.41%
1995 £63.25 3.47%
1996 £64.77 2.41%
1997 £66.81 3.14%
1998 £69.10 3.43%
1999 £70.16 1.54%
2000 £72.24 2.96%
2001 £73.52 1.77%
2002 £74.74 1.67%
2003 £76.90 2.89%
2004 £79.19 2.98%
2005 £81.43 2.82%
2006 £84.03 3.20%
2007 £87.63 4.29%
2008 £91.13 3.99%
2009 £90.65 -0.53%
2010 £94.83 4.61%
2011 £99.76 5.20%
2012 £102.97 3.21%
2013 £106.10 3.04%
2014 £108.60 2.36%
2015 £109.68 0.99%
2016 £111.58 1.74%
2017 £115.58 3.58%
2018 £118.70 2.70%
2019 £121.67 2.50%
2020 £123.86 1.80%
2021 £124.73 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1860 amounts in 1862 pounds, based on the 0.00% change in prices:

Conversion: 1860 pounds in 1862
Initial value Equivalent value
£1 pound in 1860 £1.00 pounds in 1862
£5 pounds in 1860 £5.00 pounds in 1862
£10 pounds in 1860 £10.00 pounds in 1862
£50 pounds in 1860 £50.00 pounds in 1862
£100 pounds in 1860 £100.00 pounds in 1862
£500 pounds in 1860 £500.00 pounds in 1862
£1,000 pounds in 1860 £1,000.00 pounds in 1862
£5,000 pounds in 1860 £5,000.00 pounds in 1862
£10,000 pounds in 1860 £10,000.00 pounds in 1862
£50,000 pounds in 1860 £50,000.00 pounds in 1862
£100,000 pounds in 1860 £100,000.00 pounds in 1862
£500,000 pounds in 1860 £500,000.00 pounds in 1862
£1,000,000 pounds in 1860 £1,000,000.00 pounds in 1862

## How to Calculate Inflation Rate for £1, 1860 to 1862

Our calculations use the following inflation rate formula to calculate the change in value between 1860 and 1862:

CPI in 1862 CPI in 1860
×
1860 GBP value
=
1862 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1860 and 9.3 in 1862:

9.39.3
×
£1
=
£1

£1 in 1860 has the same "purchasing power" or "buying power" as £1 in 1862.

To get the total inflation rate for the 2 years between 1860 and 1862, we use the following formula:

CPI in 1862 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

9.3 - 9.39.3
×
100
=
0%

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 → 1862 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 May. 2021, https://www.officialdata.org/uk/inflation/1860?amount=1&endYear=1862.

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.