£1 in 1865 is equivalent in purchasing power to about £1.06 in 1870, an increase of £0.06 over 5 years. The pound had an average inflation rate of 1.09% per year between 1865 and 1870, producing a cumulative price increase of 5.56%.

This means that prices in 1870 are 1.06 times higher than average prices since 1865, according to the Office for National Statistics composite price index.

The 1865 inflation rate was 1.12%. The inflation rate in 1870 was 0.00%. The 1870 inflation rate is lower compared to the average inflation rate of 3.25% per year between 1870 and 2021.

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Cumulative price change | 5.56% |

Average inflation rate | 1.09% |

Converted amount (£1 base) | £1.06 |

Price difference (£1 base) | £0.06 |

CPI in 1865 | 9.000 |

CPI in 1870 | 9.500 |

Inflation in 1865 | 1.12% |

Inflation in 1870 | 0.00% |

£1 in 1865 | £1.06 in 1870 |

This chart shows a calculation of buying power equivalence for £1 in 1865 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £1.06 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £1.06 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 1865 dollars, the chart below shows how £1 is worth less over 5 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:

This conversion table shows various other 1865 amounts in 1870 pounds, based on the 5.56% change in prices:

Initial value | Equivalent value |
---|---|

£1 pound in 1865 | £1.06 pounds in 1870 |

£5 pounds in 1865 | £5.28 pounds in 1870 |

£10 pounds in 1865 | £10.56 pounds in 1870 |

£50 pounds in 1865 | £52.78 pounds in 1870 |

£100 pounds in 1865 | £105.56 pounds in 1870 |

£500 pounds in 1865 | £527.78 pounds in 1870 |

£1,000 pounds in 1865 | £1,055.56 pounds in 1870 |

£5,000 pounds in 1865 | £5,277.78 pounds in 1870 |

£10,000 pounds in 1865 | £10,555.56 pounds in 1870 |

£50,000 pounds in 1865 | £52,777.78 pounds in 1870 |

£100,000 pounds in 1865 | £105,555.56 pounds in 1870 |

£500,000 pounds in 1865 | £527,777.78 pounds in 1870 |

£1,000,000 pounds in 1865 | £1,055,555.56 pounds in 1870 |

Our calculations use the following inflation rate formula to calculate the change in value between 1865 and 1870:

CPI in 1870
CPI in 1865

×

1865 GBP value

=

1870 GBP value

Then plug in historical CPI values. The U.K. CPI was 9 in the year 1865 and 9.5 in 1870:

9.59

×

£1

=

£1 in 1865 has the same "purchasing power" or "buying power" as £1.06 in 1870.

To get the total inflation rate for the 5 years between 1865 and 1870, we use the following formula:

CPI in 1870 - CPI in 1865CPI in 1865

×

100

=

Plugging in the values to this equation, we get:

9.5 - 99

×

100

=

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.

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 → 1870 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Dec. 2021, https://www.officialdata.org/uk/inflation/1865?amount=1&endYear=1870.

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.

Cumulative price change | 5.56% |

Average inflation rate | 1.09% |

Converted amount (£1 base) | £1.06 |

Price difference (£1 base) | £0.06 |

CPI in 1865 | 9.000 |

CPI in 1870 | 9.500 |

Inflation in 1865 | 1.12% |

Inflation in 1870 | 0.00% |

£1 in 1865 | £1.06 in 1870 |