Value of 1962 British Pounds today

£100 in 1962

£1,698.79 in 2018

The inflation rate in United Kingdom between 1962 and today has been 1,598.79%, which translates into a total increase of £1,598.79. This means that 100 pounds in 1962 are equivalent to 1,698.79 pounds in 2018. In other words, the purchasing power of £100 in 1962 equals £1,698.79 today. The average annual inflation rate has been 5.09%.

Inflation timeline in United Kingdom (1962-2018)

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 (1962-2018) 1,573.28%
Total Inflation* 1,598.79%
Annual inflation avg. (1962-2018) 5.16%
Annual inflation avg.* 5.09%
CPI 1962 6.28
CPI 2018 105
CPI today* 106.6
£1 in 1962 £16.73 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 56 years between 1962 and 2018 and the average inflation rate has been 5.0948%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = £100 * (1 + 0.05)56 = £1,673.28

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 1962 was 6.28 and the CPI today is 106.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= £100 *
105/6.28
= £1,673.28

United Kingdom inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1962 £16.99 pounds today
£5 pounds in 1962 £84.94 pounds today
£10 pounds in 1962 £169.88 pounds today
£50 pounds in 1962 £849.39 pounds today
£100 pounds in 1962 £1,698.79 pounds today
£500 pounds in 1962 £8,493.94 pounds today
£1,000 pounds in 1962 £16,987.87 pounds today
£5,000 pounds in 1962 £84,939.35 pounds today
£10,000 pounds in 1962 £169,878.7 pounds today
£50,000 pounds in 1962 £849,393.51 pounds today
£100,000 pounds in 1962 £1,698,787.02 pounds today
£500,000 pounds in 1962 £8,493,935.12 pounds today
£1,000,000 pounds in 1962 £16,987,870.24 pounds today

Value of Pound in time (by year)

Period Value
1962 100
1963 102.65
1964 104.56
1965 109.57
1966 114.49
1967 118.7
1968 121.61
1969 128.84
1970 134.86
1971 145.5
1972 158.64
1973 170.78
1974 188.84
1975 224.98
1976 280.98
1977 323.32
1978 362.59
1979 392.99
1980 460.74
1981 530.41
1982 594.3
1983 626.44
1984 659.74
1985 689.95
1986 728.9
1987 756.23
1988 784.33
1989 819.98
1990 865.35
1991 930.17
1992 998.23
1993 1,024.16
1994 1,048.47
1995 1,069.53
1996 1,101.94
1997 1,126.25
1998 1,145.7
1999 1,163.52
2000 1,176.49
2001 1,186.21
2002 1,199.18
2003 1,218.62
2004 1,234.83
2005 1,254.27
2006 1,279.66
2007 1,316.32
2008 1,346.59
2009 1,388.03
2010 1,416.71
2011 1,461.33
2012 1,513.92
2013 1,550.57
2014 1,580.85
2015 1,592.01
2016 1,599.98
2017 1,628.66
2018 1,673.28
Today 1,698.79