Value of 1976 British Pounds today

£100 in 1976

£604.58 in 2018

The inflation rate in United Kingdom between 1976 and today has been 504.58%, which translates into a total increase of £504.58. This means that 100 pounds in 1976 are equivalent to 604.58 pounds in 2018. In other words, the purchasing power of £100 in 1976 equals £604.58 today. The average annual inflation rate has been 4.27%.

Inflation timeline in United Kingdom (1976-2018)

The following chart ilustrates the equivalence of £100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1976-2018) 495.51%
Total Inflation* 504.58%
Annual inflation avg. (1976-2018) 4.34%
Annual inflation avg.* 4.27%
CPI 1976 17.63
CPI 2018 105
CPI today* 106.6
£1 in 1976 £5.96 in 2018

* Values extrapolated from the last official data to obtain today's values.

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

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: 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 42 years between 1976 and 2018 and the average inflation rate has been 4.2734%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = £100 * (1 + 0.04)42 = £595.51

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1976 was 17.63 and the CPI today is 106.6. Therefore,

Final value = Initial value *
CPI final/CPI initial
= £100 *
105/17.63
= £595.51

United Kingdom inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1976 £6.05 pounds today
£5 pounds in 1976 £30.23 pounds today
£10 pounds in 1976 £60.46 pounds today
£50 pounds in 1976 £302.29 pounds today
£100 pounds in 1976 £604.58 pounds today
£500 pounds in 1976 £3,022.92 pounds today
£1,000 pounds in 1976 £6,045.84 pounds today
£5,000 pounds in 1976 £30,229.19 pounds today
£10,000 pounds in 1976 £60,458.38 pounds today
£50,000 pounds in 1976 £302,291.92 pounds today
£100,000 pounds in 1976 £604,583.85 pounds today
£500,000 pounds in 1976 £3,022,919.23 pounds today
£1,000,000 pounds in 1976 £6,045,838.46 pounds today

Value of Pound in time (by year)

Period Value
1976 100
1977 115.07
1978 129.04
1979 139.86
1980 163.97
1981 188.77
1982 211.51
1983 222.95
1984 234.79
1985 245.55
1986 259.41
1987 269.14
1988 279.13
1989 291.82
1990 307.97
1991 331.04
1992 355.26
1993 364.49
1994 373.14
1995 380.64
1996 392.17
1997 400.82
1998 407.74
1999 414.09
2000 418.7
2001 422.16
2002 426.78
2003 433.7
2004 439.46
2005 446.38
2006 455.42
2007 468.47
2008 479.24
2009 493.99
2010 504.2
2011 520.08
2012 538.79
2013 551.84
2014 562.61
2015 566.58
2016 569.42
2017 579.63
2018 595.51
Today 604.58