Value of 1994 British Pounds today

£100 in 1994

£167.58 in 2019

The inflation rate in United Kingdom between 1994 and today has been 67.58%, which translates into a total increase of £67.58. This means that 100 pounds in 1994 are equivalent to 167.58 pounds in 2019. In other words, the purchasing power of £100 in 1994 equals £167.58 today. The average annual inflation rate has been 2.01%.

Inflation timeline in United Kingdom (1994-2019)

The following chart depicts the equivalence of £100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1994-2019) 67.34%
Total Inflation* 67.58%
Annual inflation avg. (1994-2019) 2.08%
Annual inflation avg.* 2.01%
CPI 1994 64
CPI 2019 107.1
CPI today* 107.25
£1 in 1994 £1.67 in 2019

* 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 25 years between 1994 and 2019 and the average inflation rate has been 2.0055%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = £100 * (1 + 0.02)25 = £167.34

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 1994 was 64 and the CPI today is 107.25. Therefore,

Final value = Initial value *
CPI final/CPI initial
= £100 *
107.1/64
= £167.34

United Kingdom inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1994 £1.68 pounds today
£5 pounds in 1994 £8.38 pounds today
£10 pounds in 1994 £16.76 pounds today
£50 pounds in 1994 £83.79 pounds today
£100 pounds in 1994 £167.58 pounds today
£500 pounds in 1994 £837.88 pounds today
£1,000 pounds in 1994 £1,675.76 pounds today
£5,000 pounds in 1994 £8,378.81 pounds today
£10,000 pounds in 1994 £16,757.62 pounds today
£50,000 pounds in 1994 £83,788.09 pounds today
£100,000 pounds in 1994 £167,576.17 pounds today
£500,000 pounds in 1994 £837,880.86 pounds today
£1,000,000 pounds in 1994 £1,675,761.72 pounds today

Value of Pound in time (by year)

Period Value
1994 100
1995 102.34
1996 105.47
1997 108.44
1998 110.47
1999 112.5
2000 114.22
2001 115.63
2002 117.19
2003 119.22
2004 120.78
2005 122.81
2006 125.47
2007 129.06
2008 132.03
2009 136.09
2010 138.91
2011 143.28
2012 148.44
2013 152.03
2014 155
2015 156.09
2016 156.88
2017 159.69
2018 164.06
2019 167.34
Today 167.58