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Value of 1983 British Pounds today

£100 in 1983
£324.07 in 2022

The inflation rate in the United Kingdom between 1983 and today has been 224.07%, which translates into a total increase of £224.07. This means that 100 pounds in 1983 are equivalent to 324.07 pounds in 2022. In other words, the purchasing power of £100 in 1983 equals £324.07 today. The average annual inflation rate between these periods has been 3.06%.

Inflation timeline in the United Kingdom (1983 - 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 1983-2021 189.36%
Cumulative inflation 1983-today 224.07%
Avg. Annual inflation 1983-2021 2.84%
CPI 1983 38.57
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 1983 and 2021, use the corresponding CPI values:

Value2021
=Value1983 ×
CPI2021/CPI1983
=£ 100 ×
111.6/38.57
£289.36

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

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=£ 100 ×
124.99/38.57
£324.07

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 38 years between 1983 and 2021 and the average inflation rate was 2.8355%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=£100 × (1 + 0.028355)38
£289.36

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1983 £2.89 pounds in 2021
£5 pounds in 1983 £14.47 pounds in 2021
£10 pounds in 1983 £28.94 pounds in 2021
£50 pounds in 1983 £144.68 pounds in 2021
£100 pounds in 1983 £289.36 pounds in 2021
£500 pounds in 1983 £1,446.81 pounds in 2021
£1,000 pounds in 1983 £2,893.61 pounds in 2021
£5,000 pounds in 1983 £14,468.06 pounds in 2021
£10,000 pounds in 1983 £28,936.12 pounds in 2021
£50,000 pounds in 1983 £144,680.61 pounds in 2021
£100,000 pounds in 1983 £289,361.23 pounds in 2021
£500,000 pounds in 1983 £1,446,806.15 pounds in 2021
£1,000,000 pounds in 1983 £2,893,612.3 pounds in 2021
Cumulative inflation From 1983 224.07%
Avg. annual inflation From 1983 3.06%
CPI 1983 38.57
CPI today 124.99

Value of Pound over time (by year)

Period Value
1983 100
1984 104.96
1985 111.33
1986 115.15
1987 119.93
1988 124.98
1989 132.23
1990 142.87
1991 153.5
1992 160.5
1993 164.65
1994 168.28
1995 172.68
1996 177.61
1997 181.5
1998 184.87
1999 188.24
2000 190.31
2001 193.43
2002 196.28
2003 198.87
2004 201.72
2005 205.87
2006 211.06
2007 215.98
2008 223.5
2009 227.91
2010 233.62
2011 242.69
2012 248.91
2013 254.62
2014 258.25
2015 259.28
2016 261.88
2017 268.62
2018 274.84
2019 279.51
2020 282.36
2021 289.36
2022-10 322.29
Today 324.07

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: