Value of 1960 British Pounds today

£100 in 1960

£1,805.15 in 2018

The inflation rate in United Kingdom between 1960 and today has been 1,705.15%, which translates into a total increase of £1,705.15. This means that 100 pounds in 1960 are equivalent to 1,805.15 pounds in 2018. In other words, the purchasing power of £100 in 1960 equals £1,805.15 today. The average annual inflation rate has been 5.03%.

Inflation timeline in United Kingdom (1960-2018)

The following chart ilustrates the equivalence of £100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (GBP) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1960-2018) 1,678.05%
Total Inflation* 1,705.15%
Annual inflation avg. (1960-2018) 5.09%
Annual inflation avg.* 5.03%
CPI 1960 5.91
CPI 2018 105
CPI today* 106.6
£1 in 1960 £17.78 in 2018

* Values extrapolated from the last official data to obtain today's values.

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: FV = PV (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are £100 worth today. There are 58 years between 1960 and 2018 and the average inflation rate has been 5.026%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = £100 * (1 + 0.05)58 = £1,778.05

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1960 was 5.91 and the CPI today is 106.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= £100 *
105/5.91
= £1,778.05

United Kingdom inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1960 £18.05 pounds today
£5 pounds in 1960 £90.26 pounds today
£10 pounds in 1960 £180.52 pounds today
£50 pounds in 1960 £902.58 pounds today
£100 pounds in 1960 £1,805.15 pounds today
£500 pounds in 1960 £9,025.77 pounds today
£1,000 pounds in 1960 £18,051.54 pounds today
£5,000 pounds in 1960 £90,257.69 pounds today
£10,000 pounds in 1960 £180,515.37 pounds today
£50,000 pounds in 1960 £902,576.87 pounds today
£100,000 pounds in 1960 £1,805,153.74 pounds today
£500,000 pounds in 1960 £9,025,768.68 pounds today
£1,000,000 pounds in 1960 £18,051,537.36 pounds today

Value of Pound in time (by year)

Period Value
1960 100
1961 101.81
1962 106.26
1963 109.08
1964 111.1
1965 116.43
1966 121.66
1967 126.14
1968 129.23
1969 136.91
1970 143.3
1971 154.61
1972 168.57
1973 181.47
1974 200.67
1975 239.07
1976 298.58
1977 343.57
1978 385.29
1979 417.6
1980 489.59
1981 563.62
1982 631.51
1983 665.67
1984 701.04
1985 733.15
1986 774.54
1987 803.58
1988 833.43
1989 871.32
1990 919.53
1991 988.41
1992 1,060.73
1993 1,088.29
1994 1,114.12
1995 1,136.5
1996 1,170.94
1997 1,196.77
1998 1,217.43
1999 1,236.38
2000 1,250.15
2001 1,260.48
2002 1,274.26
2003 1,294.92
2004 1,312.14
2005 1,332.81
2006 1,359.79
2007 1,398.73
2008 1,430.91
2009 1,474.94
2010 1,505.42
2011 1,552.83
2012 1,608.71
2013 1,647.66
2014 1,679.84
2015 1,691.69
2016 1,700.16
2017 1,730.64
2018 1,778.05
Today 1,805.15