6 million dollars in 1974 worth today

£1 in 1860 is equivalent in purchasing power to about £143.70 today, an increase of £142.70 over 162 years. The pound had an average inflation rate of 3.11% per year between 1860 and today, producing a cumulative price increase of 14,270.18%.

This means that today's prices are 143.70 times as high as average prices since 1860, according to the Office for National Statistics composite price index. A pound today only buys 0.696% of what it could buy back then.

The inflation rate in 1860 was 3.33%. The current inflation rate compared to last year is now 13.20%. If this number holds, £1 today will be equivalent in buying power to £1.13 next year.

Inflation from 1860 to 2022Cumulative price change14,270.18%Average inflation rate3.11%Converted amount (£1 base)£143.70Price difference (£1 base)£142.70CPI in 18609.300CPI in 20221,336.427Inflation in 18603.33%Inflation in 202213.20%£1 in 1860£143.70 in 2022

Annual Rate, the Office for National Statistics CPI

Buying power of £1 in 1860

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 £143.70 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £143.70 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 1860 dollars, the chart below shows how £1 is worth less over 162 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:

Pound inflation: 1860-2022YearPound ValueInflation Rate1860£1.003.33%1861£1.022.15%1862£1.00-2.11%1863£0.97-3.23%1864£0.96-1.11%1865£0.971.12%1866£1.025.56%1867£1.096.32%1868£1.08-0.99%1869£1.02-5.00%1870£1.020.00%1871£1.031.05%1872£1.084.17%1873£1.124.00%1874£1.08-3.85%1875£1.05-2.00%1876£1.050.00%1877£1.04-1.02%1878£1.02-2.06%1879£0.98-4.21%1880£1.013.30%1881£1.00-1.06%1882£1.011.08%1883£1.00-1.06%1884£0.98-2.15%1885£0.95-3.30%1886£0.94-1.14%1887£0.92-1.15%1888£0.941.16%1889£0.951.15%1890£0.950.00%1891£0.961.14%1892£0.960.00%1893£0.95-1.12%1894£0.94-1.14%1895£0.92-1.15%1896£0.91-1.16%1897£0.942.35%1898£0.940.00%1899£0.951.15%1900£0.994.55%1901£0.990.00%1902£0.990.00%1903£1.001.09%1904£1.000.00%1905£1.000.00%1906£1.000.00%1907£1.011.08%1908£1.010.00%1909£1.021.06%1910£1.031.05%1911£1.030.00%1912£1.063.13%1913£1.05-1.01%1914£1.050.00%1915£1.1812.24%1916£1.4018.18%1917£1.7525.38%1918£2.1422.09%1919£2.3510.05%1920£2.7215.53%1921£2.48-8.70%1922£2.14-13.85%1923£2.01-6.03%1924£2.00-0.53%1925£2.000.00%1926£1.99-0.54%1927£1.94-2.70%1928£1.940.00%1929£1.91-1.11%1930£1.86-2.81%1931£1.78-4.05%1932£1.74-2.41%1933£1.70-2.47%1934£1.700.00%1935£1.710.63%1936£1.720.63%1937£1.783.75%1938£1.811.20%1939£1.862.98%1940£2.1716.76%1941£2.4110.89%1942£2.587.14%1943£2.673.33%1944£2.742.82%1945£2.822.75%1946£2.903.05%1947£3.117.04%1948£3.347.61%1949£3.442.89%1950£3.553.13%1951£3.879.09%1952£4.239.17%1953£4.353.05%1954£4.441.98%1955£4.634.36%1956£4.875.10%1957£5.043.53%1958£5.203.20%1959£5.230.41%1960£5.281.03%1961£5.463.46%1962£5.704.33%1963£5.811.89%1964£6.003.33%1965£6.284.66%1966£6.533.94%1967£6.702.64%1968£7.014.65%1969£7.395.37%1970£7.866.40%1971£8.609.44%1972£9.227.13%1973£10.059.10%1974£11.6716.04%1975£14.4924.24%1976£16.8916.54%1977£19.5715.85%1978£21.198.30%1979£24.0313.39%1980£28.3517.99%1981£31.7211.87%1982£34.458.61%1983£36.034.59%1984£37.834.98%1985£40.136.08%1986£41.493.40%1987£43.234.17%1988£45.344.90%1989£48.877.78%1990£53.499.46%1991£56.635.87%1992£58.753.74%1993£59.691.59%1994£61.132.41%1995£63.253.47%1996£64.772.41%1997£66.813.14%1998£69.103.43%1999£70.161.54%2000£72.242.96%2001£73.521.77%2002£74.741.67%2003£76.902.89%2004£79.192.98%2005£81.432.82%2006£84.033.20%2007£87.634.29%2008£91.133.99%2009£90.65-0.53%2010£94.834.61%2011£99.765.20%2012£102.973.21%2013£106.103.04%2014£108.602.36%2015£109.680.99%2016£111.581.74%2017£115.583.58%2018£118.702.70%2019£121.672.50%2020£123.861.80%2021£126.952.49%2022£143.7013.20%** Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

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This conversion table shows various other 1860 amounts in today's pounds, based on the 14,270.18% change in prices:

Conversion: 1860 pounds todayInitial valueEquivalent value£1 pound in 1860£143.70 pounds today£5 pounds in 1860£718.51 pounds today£10 pounds in 1860£1,437.02 pounds today£50 pounds in 1860£7,185.09 pounds today£100 pounds in 1860£14,370.18 pounds today£500 pounds in 1860£71,850.90 pounds today£1,000 pounds in 1860£143,701.79 pounds today£5,000 pounds in 1860£718,508.96 pounds today£10,000 pounds in 1860£1,437,017.92 pounds today£50,000 pounds in 1860£7,185,089.62 pounds today£100,000 pounds in 1860£14,370,179.23 pounds today£500,000 pounds in 1860£71,850,896.17 pounds today£1,000,000 pounds in 1860£143,701,792.34 pounds today

How to calculate inflation rate for £1 since 1860

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

Then plug in historical CPI values. The U.K. CPI was 9.3 in the year 1860 and 1336.4266687599998 in 2022:

£1 in 1860 has the same "purchasing power" or "buying power" as £143.70 in 2022.

To get the total inflation rate for the 162 years between 1860 and 2022, we use the following formula:

CPI in 2022 - CPI in 1860CPI in 1860

Cumulative inflation rate (162 years)

Plugging in the values to this equation, we get:

1336.4266687599998 - 9.39.3

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 → 2022 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 13 Dec. 2022, https://www.officialdata.org/1860-GBP-in-2017?amount=1.

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