DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/transitional.dtd"> Measuring Worth - Purchasing Power of British Pound

Purchasing Power of British Pounds from 1264 to 2007


  1264 to 1970  1971 to 2007
Initial Year *:
Initial Year *:
Initial Amount:
pounds
shillings
pence
Initial Amount:
£
Desired Year **:
  
* Select initial year within 1264-1970 range or within 1971-2007 range to activate the initial amount field.
** Select desired year between 1264 and 2007.
Enter data as a number without a £ sign or commas.

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).


Citation

Lawrence H. Officer, "Purchasing Power of British Pounds from 1264 to 2007." MeasuringWorth, 2008.

Please read our Note on Data Revisions.

Copyright Notice

Copyright © 2008 Institute for the Measurement of Worth. All rights reserved. This work may be copied for non-profit educational uses if proper credit is given to the Institute. For other permission, please contact admin@measuringworth.org.