# £1 in 1865 is worth £0.99 in 1864

£

## Value of £1 from 1865 to 1864

According to the Office for National Statistics composite price index, prices in 1864 are 1.11% lower than average prices since 1865. The British pound experienced an average inflation rate of 1.12% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1865 is equivalent in purchasing power to about £0.99 in 1864.

The 1864 inflation rate was -1.11%. The inflation rate in 1865 was 1.12%. The 1865 inflation rate is lower compared to the average inflation rate of 3.17% per year between 1865 and 2020.

 Average inflation rate 1.12% Converted amount (£1 base) £0.99 Price difference (£1 base) £-0.01 CPI in 1865 9.000 CPI in 1864 8.900 Inflation in 1864 -1.11% Inflation in 1865 1.12%

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

## How to Calculate Inflation Rate for £1, 1864 to 1865

Our calculations use the following inflation rate formula to calculate the change in value between 1864 and 1865:

CPI in 1864 CPI in 1865
×
1865 GBP value
=
1864 GBP value

Then plug in historical CPI values. The U.K. CPI was 9 in the year 1865 and 8.9 in 1864:

8.99
×
£1
=
£0.99

£1 in 1865 has the same "purchasing power" or "buying power" as £0.99 in 1864.

To get the total inflation rate for the 1 years between 1864 and 1865, we use the following formula:

CPI in 1864 - CPI in 1865CPI in 1865
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.9 - 99
×
100
=
-1%

## News headlines from 1864

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

• America abolishes slavery after Congress passes the 13th Amendment.
• John Wilkes Booth assassinates President Abraham Lincoln at Ford's Theater, in Washington.
• The New York Stock Exchange opens its first permanent headquarters at 10-12 Broad Street.
• Columbia, South Carolina burns during the American Civil War.

## 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 1865 → 1864 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 31 Oct. 2020, https://www.officialdata.org/uk/inflation/1865?amount=1&endYear=1864.

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.

#### 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.

 Average inflation rate 1.12% Converted amount (£1 base) £0.99 Price difference (£1 base) £-0.01 CPI in 1865 9.000 CPI in 1864 8.900 Inflation in 1864 -1.11% Inflation in 1865 1.12%