UK inflation rate in 1776: -1.43%

UK Inflation Calculator

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UK Inflation Rate, 1776-2018 (£100)

The composite price index (CPI) in 1776 was 6.9. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 2.12% per year. Prices in 2018 are 15792.6% higher than prices in 1776.

In other words, £100 in the year 1776 is equivalent in purchasing power to £15,892.63 in 2018, a difference of £15,792.63 over 242 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 3.10%1. If this number holds, £100 today would be equivalent to £103.10 next year.

 Cumulative price change 15792.63% Average inflation rate 2.12% Price difference (£100 base) £15,792.63 CPI in 1776 6.9 CPI in 2018 1096.59148

How to calculate the inflation rate for £100 since 1776

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1776 * 1776 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 6.9 in the year 1776 and 1096.59148 in 2018:

1096.59148 / 6.9 * £100 = £15,892.63

£100 in 1776 has the same "purchasing power" as £15,892.63 in 2018.

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

• Austria outlaws interrogation and torture.
• Thomas Paine issues Common Sense, a pamphlet advocating American independence.
• 56 people formally sign the U.S. Declaration of Independence
• The United States Congress officially releases the Declaration of Independence.
• United States of America gets its official name
• British troops capture Fort Washington.

Inflation Data Source

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: “Inflation Rate in 1776 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 May. 2018, https://www.officialdata.org/UK-inflation-rate-in-1776.