UK inflation rate in 1794: 8.97%

UK Inflation Calculator

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Inflation in 1794 and Its Effect on Pound Value

Purchasing power decreased by 8.97% in 1794 compared to the previous year, 1793. On average, you would have to spend 8.97% more money in 1794 than in 1793 for the same item.

In other words, £100 in 1793 is equivalent in purchasing power to £108.97 in 1794.

The 1793 inflation rate was 2.63%. The inflation rate in 1794 was 8.97%. The 1794 inflation rate is higher compared to the average inflation rate of 2.19% per year between 1794 and 2018.

Inflation rate is calculated by change in the composite price index (CPI). The CPI in 1794 was 8.5. It was 7.8 in the previous year, 1793. The difference in CPI between the years is used by the Office for National Statistics to officially determine inflation.


Inflation from 1793 to 1794
Average inflation rate 8.97%
Converted amount (£100 base) £108.97
Price difference (£100 base) £8.97
CPI in 1793 7.8
CPI in 1794 8.5
Inflation in 1793 2.63%
Inflation in 1794 8.97%


UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


How to Calculate Inflation Rate for £100, 1793 to 1794

This inflation calculator uses the following inflation rate formula:

CPI in 1794CPI in 1793
×
1793 GBP value
=
1794 GBP value

Then plug in historical CPI values. The UK CPI was 7.8 in the year 1793 and 8.5 in 1794:

8.57.8
×
£100
=
£108.97

£100 in 1793 has the same "purchasing power" or "buying power" as £108.97 in 1794.

To get the total inflation rate for the 1 years between 1793 and 1794, we use the following formula:

CPI in 1794 - CPI in 1793CPI in 1793
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.5 - 7.87.8
×
100
=
9%

News headlines from 1793

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

  • French National Convention sentences King Louis XVI to death
  • The first US cabinet meeting is held at George Washington's home
  • Adoption of the first republican constitution in France

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: “Inflation Rate in 1794 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Sep. 2018, https://www.officialdata.org/UK-inflation-rate-in-1794.


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