£

Value of 1962 British Pounds today

£100 in 1962
£2,210.72 in 2024

The inflation rate in the United Kingdom between 1962 and today has been 2,110.72%, which translates into a total increase of £2,110.72. This means that 100 pounds in 1962 are equivalent to 2,210.72 pounds in 2024. In other words, the purchasing power of £100 in 1962 equals £2,210.72 today. The average annual inflation rate between these periods has been 5.12%.

Inflation timeline in the United Kingdom (1962 - 2024)

The following chart depicts the equivalence of £100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing 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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1962-2023 2,010.41%
Cumulative inflation 1962-today 2,110.72%
Avg. Annual inflation 1962-2023 5.13%
CPI 1962 6.09
CPI 2023 128.6
CPI 2024-10 (latest official data) 134.3
CPI today 134.71

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 Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1962 and 2023, use the corresponding CPI values:

Value2023
=Value1962 ×
CPI2023/CPI1962
=£ 100 ×
128.6/6.09
£2,110.41

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134.71:

Valuetoday
=Value1962 ×
CPItoday/CPI1962
=£ 100 ×
134.71/6.09
£2,210.72

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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 61 years between 1962 and 2023 and the average inflation rate was 5.1262%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=£100 × (1 + 0.051262)61
£2,110.41

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1962 £21.1 pounds in 2023
£5 pounds in 1962 £105.52 pounds in 2023
£10 pounds in 1962 £211.04 pounds in 2023
£50 pounds in 1962 £1,055.21 pounds in 2023
£100 pounds in 1962 £2,110.41 pounds in 2023
£500 pounds in 1962 £10,552.07 pounds in 2023
£1,000 pounds in 1962 £21,104.15 pounds in 2023
£5,000 pounds in 1962 £105,520.74 pounds in 2023
£10,000 pounds in 1962 £211,041.47 pounds in 2023
£50,000 pounds in 1962 £1,055,207.37 pounds in 2023
£100,000 pounds in 1962 £2,110,414.73 pounds in 2023
£500,000 pounds in 1962 £10,552,073.66 pounds in 2023
£1,000,000 pounds in 1962 £21,104,147.33 pounds in 2023
Cumulative inflation From 1962 2,110.72%
Avg. annual inflation From 1962 5.12%
CPI 1962 6.09
CPI today 134.71

Value of Pound over time (by year)

Period Value
1962 100
1963 102.02
1964 105.37
1965 110.4
1966 114.71
1967 117.56
1968 123.08
1969 129.79
1970 138.05
1971 151.09
1972 161.77
1973 176.65
1974 204.99
1975 254.61
1976 296.77
1977 343.78
1978 372.19
1979 422.14
1980 497.98
1981 557.13
1982 605.03
1983 632.92
1984 664.32
1985 704.65
1986 728.81
1987 759.04
1988 791
1989 836.95
1990 904.23
1991 971.51
1992 1,015.82
1993 1,042.08
1994 1,065.05
1995 1,092.95
1996 1,124.13
1997 1,148.75
1998 1,170.08
1999 1,191.42
2000 1,204.54
2001 1,224.24
2002 1,242.29
2003 1,258.7
2004 1,276.75
2005 1,303.01
2006 1,335.83
2007 1,367.01
2008 1,414.6
2009 1,442.5
2010 1,478.6
2011 1,536.04
2012 1,575.43
2013 1,611.53
2014 1,634.5
2015 1,641.07
2016 1,657.48
2017 1,700.15
2018 1,739.53
2019 1,769.07
2020 1,787.12
2021 1,831.43
2022 1,977.49
2023 2,110.41
2024-10 2,203.96
Today 2,210.72

All available years

Today's value of british pounds by year:

1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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