£

Value of 1966 British Pounds today

£100 in 1966
£1,788.05 in 2022

The inflation rate in the United Kingdom between 1966 and today has been 1,688.05%, which translates into a total increase of £1,688.05. This means that 100 pounds in 1966 are equivalent to 1,788.05 pounds in 2022. In other words, the purchasing power of £100 in 1966 equals £1,788.05 today. The average annual inflation rate between these periods has been 5.28%.

Inflation timeline in the United Kingdom (1966 - 2022)

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 1966-2021 1,496.54%
Cumulative inflation 1966-today 1,688.05%
Avg. Annual inflation 1966-2021 5.17%
CPI 1966 6.99
CPI 2021 111.6
CPI 2022-10 (latest official data) 124.3
CPI today 124.99

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 1966 and 2021, use the corresponding CPI values:

Value2021
=Value1966 ×
CPI2021/CPI1966
=£ 100 ×
111.6/6.99
£1,596.54

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.99:

Valuetoday
=Value1966 ×
CPItoday/CPI1966
=£ 100 ×
124.99/6.99
£1,788.05

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 55 years between 1966 and 2021 and the average inflation rate was 5.1662%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=£100 × (1 + 0.051662)55
£1,596.54

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1966 £15.97 pounds in 2021
£5 pounds in 1966 £79.83 pounds in 2021
£10 pounds in 1966 £159.65 pounds in 2021
£50 pounds in 1966 £798.27 pounds in 2021
£100 pounds in 1966 £1,596.54 pounds in 2021
£500 pounds in 1966 £7,982.72 pounds in 2021
£1,000 pounds in 1966 £15,965.43 pounds in 2021
£5,000 pounds in 1966 £79,827.16 pounds in 2021
£10,000 pounds in 1966 £159,654.32 pounds in 2021
£50,000 pounds in 1966 £798,271.61 pounds in 2021
£100,000 pounds in 1966 £1,596,543.23 pounds in 2021
£500,000 pounds in 1966 £7,982,716.13 pounds in 2021
£1,000,000 pounds in 1966 £15,965,432.26 pounds in 2021
Cumulative inflation From 1966 1,688.05%
Avg. annual inflation From 1966 5.28%
CPI 1966 6.99
CPI today 124.99

Value of Pound over time (by year)

Period Value
1966 100
1967 102.48
1968 107.3
1969 113.14
1970 120.34
1971 131.71
1972 141.02
1973 153.99
1974 178.7
1975 221.96
1976 258.71
1977 299.69
1978 324.45
1979 368
1980 434.12
1981 485.67
1982 527.44
1983 551.75
1984 579.12
1985 614.28
1986 635.33
1987 661.69
1988 689.55
1989 729.6
1990 788.26
1991 846.91
1992 885.54
1993 908.43
1994 928.46
1995 952.78
1996 979.96
1997 1,001.42
1998 1,020.01
1999 1,038.61
2000 1,050.06
2001 1,067.22
2002 1,082.96
2003 1,097.27
2004 1,113
2005 1,135.89
2006 1,164.5
2007 1,191.69
2008 1,233.17
2009 1,257.49
2010 1,288.97
2011 1,339.04
2012 1,373.37
2013 1,404.84
2014 1,424.87
2015 1,430.59
2016 1,444.9
2017 1,482.1
2018 1,516.43
2019 1,542.18
2020 1,557.92
2021 1,596.54
2022-10 1,778.23
Today 1,788.05

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 |

Other currencies: