£

Value of 1968 British Pounds today

£22 in 1968
£356.48 in 2022

The inflation rate in the United Kingdom between 1968 and today has been 1,520.36%, which translates into a total increase of £334.48. This means that 22 pounds in 1968 are equivalent to 356.48 pounds in 2022. In other words, the purchasing power of £22 in 1968 equals £356.48 today. The average annual inflation rate between these periods has been 5.29%.

Inflation timeline in the United Kingdom (1968 - 2022)

The following chart depicts the equivalence of £22 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 1968-2021 1,387.98%
Cumulative inflation 1968-today 1,520.36%
Avg. Annual inflation 1968-2021 5.23%
CPI 1968 7.5
CPI 2021 111.6
CPI 2022-06 (latest official data) 120.5
CPI today 121.53

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 1968 and 2021, use the corresponding CPI values:

Value2021
=Value1968 ×
CPI2021/CPI1968
=£ 22 ×
111.6/7.5
£327.36

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 121.53:

Valuetoday
=Value1968 ×
CPItoday/CPI1968
=£ 22 ×
121.53/7.5
£356.48

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 £22 worth today. There are 53 years between 1968 and 2021 and the average inflation rate was 5.2263%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=£22 × (1 + 0.052263)53
£327.36

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1968 £14.88 pounds in 2021
£5 pounds in 1968 £74.4 pounds in 2021
£10 pounds in 1968 £148.8 pounds in 2021
£50 pounds in 1968 £743.99 pounds in 2021
£100 pounds in 1968 £1,487.98 pounds in 2021
£500 pounds in 1968 £7,439.89 pounds in 2021
£1,000 pounds in 1968 £14,879.78 pounds in 2021
£5,000 pounds in 1968 £74,398.91 pounds in 2021
£10,000 pounds in 1968 £148,797.82 pounds in 2021
£50,000 pounds in 1968 £743,989.09 pounds in 2021
£100,000 pounds in 1968 £1,487,978.18 pounds in 2021
£500,000 pounds in 1968 £7,439,890.88 pounds in 2021
£1,000,000 pounds in 1968 £14,879,781.76 pounds in 2021
Cumulative inflation From 1968 1,520.36%
Avg. annual inflation From 1968 5.29%
CPI 1968 7.5
CPI today 121.53

Value of Pound over time (by year)

Period Value
1968 22
1969 23.2
1970 24.68
1971 27.01
1972 28.92
1973 31.57
1974 36.64
1975 45.51
1976 53.05
1977 61.45
1978 66.53
1979 75.45
1980 89.01
1981 99.58
1982 108.15
1983 113.13
1984 118.74
1985 125.95
1986 130.27
1987 135.67
1988 141.38
1989 149.6
1990 161.62
1991 173.65
1992 181.57
1993 186.26
1994 190.37
1995 195.36
1996 200.93
1997 205.33
1998 209.14
1999 212.96
2000 215.3
2001 218.82
2002 222.05
2003 224.98
2004 228.21
2005 232.9
2006 238.77
2007 244.34
2008 252.85
2009 257.84
2010 264.29
2011 274.56
2012 281.6
2013 288.05
2014 292.16
2015 293.33
2016 296.26
2017 303.89
2018 310.93
2019 316.21
2020 319.44
2021 327.36
2022-06 353.46
Today 356.48

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: