£

Value of 1965 British Pounds today

£6,556 in 1965
£123,507.17 in 2023

The inflation rate in the United Kingdom between 1965 and today has been 1,783.88%, which translates into a total increase of £116,951.17. This means that 6,556 pounds in 1965 are equivalent to 123,507.17 pounds in 2023. In other words, the purchasing power of £6,556 in 1965 equals £123,507.17 today. The average annual inflation rate between these periods has been 5.19%.

Inflation timeline in the United Kingdom (1965 - 2023)

The following chart depicts the equivalence of £6,556 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 1965-2022 1,691.26%
Cumulative inflation 1965-today 1,783.88%
Avg. Annual inflation 1965-2022 5.19%
CPI 1965 6.73
CPI 2022 120.5
CPI 2023-02 (latest official data) 126
CPI today 126.73

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 1965 and 2022, use the corresponding CPI values:

Value2022
=Value1965 ×
CPI2022/CPI1965
=£ 6,556 ×
120.5/6.73
£117,435.19

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.73:

Valuetoday
=Value1965 ×
CPItoday/CPI1965
=£ 6,556 ×
126.73/6.73
£123,507.17

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 £6,556 worth today. There are 57 years between 1965 and 2022 and the average inflation rate was 5.1926%. Therefore, we can resolve the formula like this:

Value2022
=PV × (1 + i)n
=£6,556 × (1 + 0.051926)57
£117,435.19

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1965 £17.91 pounds in 2022
£5 pounds in 1965 £89.56 pounds in 2022
£10 pounds in 1965 £179.13 pounds in 2022
£50 pounds in 1965 £895.63 pounds in 2022
£100 pounds in 1965 £1,791.26 pounds in 2022
£500 pounds in 1965 £8,956.31 pounds in 2022
£1,000 pounds in 1965 £17,912.63 pounds in 2022
£5,000 pounds in 1965 £89,563.14 pounds in 2022
£10,000 pounds in 1965 £179,126.27 pounds in 2022
£50,000 pounds in 1965 £895,631.37 pounds in 2022
£100,000 pounds in 1965 £1,791,262.74 pounds in 2022
£500,000 pounds in 1965 £8,956,313.7 pounds in 2022
£1,000,000 pounds in 1965 £17,912,627.41 pounds in 2022
Cumulative inflation From 1965 1,783.88%
Avg. annual inflation From 1965 5.19%
CPI 1965 6.73
CPI today 126.73

Value of Pound over time (by year)

Period Value
1965 6,556
1966 6,812.31
1967 6,981.4
1968 7,309.35
1969 7,707.47
1970 8,198.17
1971 8,972.47
1972 9,606.92
1973 10,490.38
1974 12,173.46
1975 15,120.32
1976 17,624.18
1977 20,415.89
1978 22,102.88
1979 25,069.37
1980 29,573.32
1981 33,085.63
1982 35,930.63
1983 37,586.77
1984 39,451.34
1985 41,846.59
1986 43,280.93
1987 45,076.62
1988 46,974.07
1989 49,702.86
1990 53,698.58
1991 57,694.3
1992 60,325.63
1993 61,884.93
1994 63,249.32
1995 64,906.09
1996 66,757.76
1997 68,219.61
1998 69,486.55
1999 70,753.48
2000 71,533.13
2001 72,702.61
2002 73,774.64
2003 74,749.2
2004 75,821.22
2005 77,380.53
2006 79,329.66
2007 81,181.34
2008 84,007.58
2009 85,664.34
2010 87,808.38
2011 91,219.36
2012 93,558.32
2013 95,702.37
2014 97,066.76
2015 97,456.59
2016 98,431.15
2017 100,965.02
2018 103,303.98
2019 105,058.2
2020 106,130.22
2021 108,761.55
2022 117,435.19
2023-02 122,795.3
Today 123,507.17

All available years

Today's value of british pounds by year:

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 |

Other currencies: