According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 1.97% per year. Prices in 1992 are 10828.0% higher than prices in 1751.
In other words, £100 in 1751 is equivalent in purchasing power to £10,928 in 1992, a difference of £10,828.00 over 241 years.
The inflation rate in 1992 was 3.74%.
|Cumulative price change||10828.00%|
|Average inflation rate||1.97%|
|Converted amount (£100 base)||£10,928|
|Price difference (£100 base)||£10,828.00|
|CPI in 1751||5|
|CPI in 1992||546.4|
This inflation calculator uses the following inflation rate formula:
CPI in 1992 / CPI in 1751 * 1751 GBP value = 1992 GBP value
Then plug in historical CPI values. The UK CPI was 5 in the year 1751 and 546.4 in 1992:
546.4 / 5 * £100 = £10,928
£100 in 1751 has the same "purchasing power" or "buying power" as £10,928 in 1992.
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: “1751 pounds in 1992 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jun. 2018, https://www.officialdata.org/1751-GBP-in-1992.