£1 in 1895 is equivalent in purchasing power to about £1.01 in 1894.
The pound had an average **deflation** rate of -1.15% per year since 1894, producing a cumulative price change of 1.16%.

This means that prices in 1894 are 1.01 times higher than average prices since 1895, according to the Office for National Statistics composite price index.

The 1894 inflation rate was -1.14%. The inflation rate in 1895 was -1.15%. The 1895 inflation rate is lower compared to the average inflation rate of 3.97% per year between 1895 and 2021.

⌃

Average inflation rate | -1.15% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1895 | 8.600 |

CPI in 1894 | 8.700 |

Inflation in 1894 | -1.14% |

Inflation in 1895 | -1.15% |

£1 in 1895 | £1.01 in 1894 |

Our calculations use the following inflation rate formula to calculate the change in value between 1894 and 1895:

CPI in 1894
CPI in 1895

×

1895 GBP value

=

1894 GBP value

Then plug in historical CPI values. The U.K. CPI was 8.6 in the year 1895 and 8.7 in 1894:

8.78.6

×

£1

=

£1 in 1895 has the same "purchasing power" or "buying power" as £1.01 in 1894.

To get the total inflation rate for the 1 years between 1894 and 1895, we use the following formula:

CPI in 1894 - CPI in 1895CPI in 1895

×

100

=

Plugging in the values to this equation, we get:

8.7 - 8.68.6

×

100

=

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

- Italy invades Abyssinia (Ethiopia today).
- First Sino-Japanese war finishes after signing the Treaty of Shimonoseki.
- Electromagnetic radiation in a wavelength range today known as X-rays were produced by Wilhelm Rontgen, a German physicist.
- The Nobel Prize is established in the will of Swedish chemist Alfred Nobel.

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 1895 → 1894 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 21 Oct. 2021, https://www.officialdata.org/uk/inflation/1895?amount=1&endYear=1894.

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.

Average inflation rate | -1.15% |

Converted amount (£1 base) | £1.01 |

Price difference (£1 base) | £0.01 |

CPI in 1895 | 8.600 |

CPI in 1894 | 8.700 |

Inflation in 1894 | -1.14% |

Inflation in 1895 | -1.15% |

£1 in 1895 | £1.01 in 1894 |