£

Value of 1970 British Pounds today

£100 in 1970
£1,397.61 in 2022

The inflation rate in the United Kingdom between 1970 and today has been 1,297.61%, which translates into a total increase of £1,297.61. This means that 100 pounds in 1970 are equivalent to 1,397.61 pounds in 2022. In other words, the purchasing power of £100 in 1970 equals £1,397.61 today. The average annual inflation rate between these periods has been 5.2%.

Inflation timeline in the United Kingdom (1970 - 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 1970-2021 1,226.66%
Cumulative inflation 1970-today 1,297.61%
Avg. Annual inflation 1970-2021 5.2%
CPI 1970 8.41
CPI 2021 111.6
CPI 2022-03 (latest official data) 116.5
CPI today 117.57

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 1970 and 2021, use the corresponding CPI values:

Value2021
=Value1970 ×
CPI2021/CPI1970
=£ 100 ×
111.6/8.41
£1,326.66

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 117.57:

Valuetoday
=Value1970 ×
CPItoday/CPI1970
=£ 100 ×
117.57/8.41
£1,397.61

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 51 years between 1970 and 2021 and the average inflation rate was 5.1998%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=£100 × (1 + 0.051998)51
£1,326.66

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1970 £13.27 pounds in 2021
£5 pounds in 1970 £66.33 pounds in 2021
£10 pounds in 1970 £132.67 pounds in 2021
£50 pounds in 1970 £663.33 pounds in 2021
£100 pounds in 1970 £1,326.66 pounds in 2021
£500 pounds in 1970 £6,633.28 pounds in 2021
£1,000 pounds in 1970 £13,266.57 pounds in 2021
£5,000 pounds in 1970 £66,332.84 pounds in 2021
£10,000 pounds in 1970 £132,665.68 pounds in 2021
£50,000 pounds in 1970 £663,328.39 pounds in 2021
£100,000 pounds in 1970 £1,326,656.78 pounds in 2021
£500,000 pounds in 1970 £6,633,283.89 pounds in 2021
£1,000,000 pounds in 1970 £13,266,567.79 pounds in 2021
Cumulative inflation From 1970 1,297.61%
Avg. annual inflation From 1970 5.2%
CPI 1970 8.41
CPI today 117.57

Value of Pound over time (by year)

Period Value
1970 100
1971 109.44
1972 117.18
1973 127.96
1974 148.49
1975 184.44
1976 214.98
1977 249.03
1978 269.61
1979 305.79
1980 360.73
1981 403.57
1982 438.28
1983 458.48
1984 481.22
1985 510.44
1986 527.93
1987 549.84
1988 572.98
1989 606.27
1990 655.01
1991 703.75
1992 735.84
1993 754.86
1994 771.51
1995 791.71
1996 814.3
1997 832.13
1998 847.59
1999 863.04
2000 872.55
2001 886.82
2002 899.89
2003 911.78
2004 924.86
2005 943.88
2006 967.65
2007 990.24
2008 1,024.71
2009 1,044.92
2010 1,071.07
2011 1,112.68
2012 1,141.21
2013 1,167.36
2014 1,184.01
2015 1,188.76
2016 1,200.65
2017 1,231.56
2018 1,260.09
2019 1,281.48
2020 1,294.56
2021 1,326.66
2022-03 1,384.91
Today 1,397.61

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: