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The measure used in this calculator is the longest series of its kind. See a discussion of Using the Retail Price Index (RPI). Other comparison series might be preferable, depending on the context of the question. For more choices consult Five Ways to Compute the Relative Value of a UK Pound Amount, 1830 - 2006, where you will find further discussion of this issue.
To determine the value of an amount of money in a particular ("original") year compared to another ("desired") year, enter the values in the appropriate places below. For example, you may want to know: How much money would you need in the year 2005, to have the same "purchasing power" of £500 in year 1975. If you entered these values in the correct places, you will find that the answer is £2,808.67.
Prior to February 15, 1971 ("Decimal day," or "D-day"), monetary amounts in the U.K. were expressed as pounds (£), shillings (s.) and pence (d.), where £1 = 20s. = 240d. After 1970, there were 100 pennies in a pound, so one (new) penny = 2.4 old pence. All numbers should be entered in decimal rather than fractional form (for example, 1.5 rather than 1 1/2).
Lawrence H. Officer, "Purchasing Power of British Pounds from 1264 to 2007." MeasuringWorth, 2008.
Please read our Note on Data Revisions.
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