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Value of 1997 British Pounds today

£100 in 1997
£190.21 in 2024

The inflation rate in the United Kingdom between 1997 and today has been 90.21%, which translates into a total increase of £90.21. This means that 100 pounds in 1997 are equivalent to 190.21 pounds in 2024. In other words, the purchasing power of £100 in 1997 equals £190.21 today. The average annual inflation rate between these periods has been 2.41%.

Inflation timeline in the United Kingdom (1997 - 2024)

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 1997-2023 83.71%
Cumulative inflation 1997-today 90.21%
Avg. Annual inflation 1997-2023 2.37%
CPI 1997 70
CPI 2023 128.6
CPI 2024-05 (latest official data) 132.7
CPI today 133.15

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 1997 and 2023, use the corresponding CPI values:

Value2023
=Value1997 ×
CPI2023/CPI1997
=£ 100 ×
128.6/70
£183.71

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 133.15:

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=£ 100 ×
133.15/70
£190.21

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 26 years between 1997 and 2023 and the average inflation rate was 2.3669%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=£100 × (1 + 0.023669)26
£183.71

UK inflation - Conversion table

Initial Value Equivalent value
£1 pound in 1997 £1.84 pounds in 2023
£5 pounds in 1997 £9.19 pounds in 2023
£10 pounds in 1997 £18.37 pounds in 2023
£50 pounds in 1997 £91.86 pounds in 2023
£100 pounds in 1997 £183.71 pounds in 2023
£500 pounds in 1997 £918.57 pounds in 2023
£1,000 pounds in 1997 £1,837.14 pounds in 2023
£5,000 pounds in 1997 £9,185.71 pounds in 2023
£10,000 pounds in 1997 £18,371.43 pounds in 2023
£50,000 pounds in 1997 £91,857.14 pounds in 2023
£100,000 pounds in 1997 £183,714.29 pounds in 2023
£500,000 pounds in 1997 £918,571.43 pounds in 2023
£1,000,000 pounds in 1997 £1,837,142.86 pounds in 2023
Cumulative inflation From 1997 90.21%
Avg. annual inflation From 1997 2.41%
CPI 1997 70
CPI today 133.15

Value of Pound over time (by year)

Period Value
1997 100
1998 101.86
1999 103.71
2000 104.86
2001 106.57
2002 108.14
2003 109.57
2004 111.14
2005 113.43
2006 116.29
2007 119
2008 123.14
2009 125.57
2010 128.71
2011 133.71
2012 137.14
2013 140.29
2014 142.29
2015 142.86
2016 144.29
2017 148
2018 151.43
2019 154
2020 155.57
2021 159.43
2022 172.14
2023 183.71
2024-05 189.57
Today 190.21

All available years

Today's value of british pounds by year:

1955 | 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 | 2022 | 2023 |

Other currencies: