What would £160 in 1895 be worth today?

[MinaHarker1897]

I've done an online check and it comes out at £14,000. It seems very high to me! Any more accurate sources anyone knows of please? Thanks.

Doesn't seem high to me.

I would have thought more tbh!

I'd have though it would be more tbh!

ChatGPT says:

To estimate the value of £160 in 1895 in today's money, we can use historical inflation rates. Generally, £160 in 1895 would be equivalent to approximately £19,000 to £20,000 today, depending on the specific inflation calculations used.

Inflation can vary widely depending on the source, but this range gives a rough idea of how much purchasing power has changed over that period. If you need a more precise figure, specific historical inflation calculators can provide detailed estimates

I get £26k if I put it in a website calculator

Bank of England says it's £17,600 or so - I'd go with them

https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator

Theres different ways of measuring it though

So you could say, how much would it have bought in 1895, how many loaves of bread or pints of milk

How much clothing fabric could it have bought you

What hourly rate is it equivalent to, ie is it a civil servants yearly income in 1895, it certainly isnt that now, or is it a shop assistants yearly income in 1895?

Or a straight forward inflation calculation, which I always think is not that accurate because it doesnt give a real life indicator.

Bank of England calculator says £17.6k.

Bank of England inflation calculator says £160 in 1865 is worth £16,888 in September 2024.
What's you definition of an accurate source?

I used wrong dates, oh well 🤷

I'm going with the Bank of England, thanks everyone.