£1 in 1860 is equivalent in purchasing power to about £0.97 in 1863, a difference of £-0.03 over 3 years.
The pound had an average **deflation** rate of -1.09% per year since 1860, producing a cumulative price change of -3.23%.

This means that prices in 1863 are 3.23% lower than average prices since 1860, according to the Office for National Statistics composite price index.

The 1860 inflation rate was 3.33%. The inflation rate in 1863 was -3.23%. The 1863 inflation rate is lower compared to the average inflation rate of 3.12% per year between 1863 and 2021.

⌃

Cumulative price change | -3.23% |

Average inflation rate | -1.09% |

Converted amount (£1 base) | £0.97 |

Price difference (£1 base) | £-0.03 |

CPI in 1860 | 9.300 |

CPI in 1863 | 9.000 |

Inflation in 1860 | 3.33% |

Inflation in 1863 | -3.23% |

£1 in 1860 | £0.97 in 1863 |

This chart shows a calculation of buying power equivalence for £1 in 1860 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £0.97 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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 1860 amounts in 1863 pounds, based on the -3.23% change in prices:

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

£1 pound in 1860 | £0.97 pounds in 1863 |

£5 pounds in 1860 | £4.84 pounds in 1863 |

£10 pounds in 1860 | £9.68 pounds in 1863 |

£50 pounds in 1860 | £48.39 pounds in 1863 |

£100 pounds in 1860 | £96.77 pounds in 1863 |

£500 pounds in 1860 | £483.87 pounds in 1863 |

£1,000 pounds in 1860 | £967.74 pounds in 1863 |

£5,000 pounds in 1860 | £4,838.71 pounds in 1863 |

£10,000 pounds in 1860 | £9,677.42 pounds in 1863 |

£50,000 pounds in 1860 | £48,387.10 pounds in 1863 |

£100,000 pounds in 1860 | £96,774.19 pounds in 1863 |

£500,000 pounds in 1860 | £483,870.97 pounds in 1863 |

£1,000,000 pounds in 1860 | £967,741.94 pounds in 1863 |

Our calculations use the following inflation rate formula to calculate the change in value between 1860 and 1863:

CPI in 1863
CPI in 1860

×

1860 GBP value

=

1863 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1860 and 9 in 1863:

99.3

×

£1

=

£1 in 1860 has the same "purchasing power" or "buying power" as £0.97 in 1863.

To get the total inflation rate for the 3 years between 1860 and 1863, we use the following formula:

CPI in 1863 - CPI in 1860CPI in 1860

×

100

=

Plugging in the values to this equation, we get:

9 - 9.39.3

×

100

=

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

- Abraham Lincoln becomes the 16th President of the U.S.
- Slavery ends in the Dutch East Indies.

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 1860 → 1863 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Oct. 2021, https://www.officialdata.org/uk/inflation/1860?amount=1&endYear=1863.

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 | -3.23% |

Average inflation rate | -1.09% |

Converted amount (£1 base) | £0.97 |

Price difference (£1 base) | £-0.03 |

CPI in 1860 | 9.300 |

CPI in 1863 | 9.000 |

Inflation in 1860 | 3.33% |

Inflation in 1863 | -3.23% |

£1 in 1860 | £0.97 in 1863 |