£1 in 1960 → £1.27 in 1967

UK Inflation Calculator

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£1 in 1960 → £1.27 in 1967

UK Inflation Rate, £1 in 1960 to 1967

According to the Office for National Statistics composite price index, prices in 1967 are 26.88% higher than average prices throughout 1960. The pound experienced an average inflation rate of 3.46% per year during this period, meaning the real value of a dollar decreased.

In other words, £1 in 1960 is equivalent in purchasing power to about £1.27 in 1967, a difference of £0.27 over 7 years.

The 1960 inflation rate was 1.03%. The inflation rate in 1967 was 2.64%. The 1967 inflation rate is lower compared to the average inflation rate of 5.72% per year between 1967 and 2019.


Inflation from 1960 to 1967
Cumulative price change 26.88%
Average inflation rate 3.46%
Converted amount (£1 base) £1.27
Price difference (£1 base) £0.27
CPI in 1960 49.100
CPI in 1967 62.300
Inflation in 1960 1.03%
Inflation in 1967 2.64%

UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


Buying power of £1 in 1960

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £1 in 1960 (price index tracking began in 1750).

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Year Pound Value Inflation Rate
1960 £1.00 1.03%
1961 £1.03 3.46%
1962 £1.08 4.33%
1963 £1.10 1.89%
1964 £1.14 3.33%
1965 £1.19 4.66%
1966 £1.24 3.94%
1967 £1.27 2.64%
1968 £1.33 4.65%
1969 £1.40 5.37%
1970 £1.49 6.40%
1971 £1.63 9.44%
1972 £1.75 7.13%
1973 £1.90 9.10%
1974 £2.21 16.04%
1975 £2.75 24.24%
1976 £3.20 16.54%
1977 £3.71 15.85%
1978 £4.01 8.30%
1979 £4.55 13.39%
1980 £5.37 17.99%
1981 £6.01 11.87%
1982 £6.53 8.61%
1983 £6.82 4.59%
1984 £7.16 4.98%
1985 £7.60 6.08%
1986 £7.86 3.40%
1987 £8.19 4.17%
1988 £8.59 4.90%
1989 £9.26 7.78%
1990 £10.13 9.46%
1991 £10.73 5.87%
1992 £11.13 3.74%
1993 £11.31 1.59%
1994 £11.58 2.41%
1995 £11.98 3.47%
1996 £12.27 2.41%
1997 £12.65 3.14%
1998 £13.09 3.43%
1999 £13.29 1.54%
2000 £13.68 2.96%
2001 £13.92 1.77%
2002 £14.16 1.67%
2003 £14.57 2.89%
2004 £15.00 2.98%
2005 £15.42 2.82%
2006 £15.92 3.20%
2007 £16.60 4.29%
2008 £17.26 3.99%
2009 £17.17 -0.53%
2010 £17.96 4.61%
2011 £18.90 5.20%
2012 £19.50 3.21%
2013 £20.10 3.04%
2014 £20.57 2.36%
2015 £20.77 0.99%
2016 £21.13 1.74%
2017 £21.89 3.58%
2018 £22.44 2.48%
2019 £22.84 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for £1, 1960 to 1967

This inflation calculator uses the following inflation rate formula:

CPI in 1967CPI in 1960
×
1960 GBP value
=
1967 GBP value

Then plug in historical CPI values. The UK CPI was 49.1 in the year 1960 and 62.3 in 1967:

62.349.1
×
£1
=
£1.27

£1 in 1960 has the same "purchasing power" or "buying power" as £1.27 in 1967.

To get the total inflation rate for the 7 years between 1960 and 1967, we use the following formula:

CPI in 1967 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (7 years)

Plugging in the values to this equation, we get:

62.3 - 49.149.1
×
100
=
27%

News headlines from 1960

Politics and news often influence economic performance. Here's what was happening at the time:

  • Johnny Cash plays his first concert in a prison.
  • The Bank of France issues new franc currency, worth 100 times the value of old francs.
  • France grants independence to Cameroon (previously French Cameroon) after years of fighting.
  • Guided missiles are launched for the first time from a nuclear powered submarine

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£1 in 1960 → 1967 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Jun. 2019, https://www.officialdata.org/1960-GBP-in-1967?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation and investment.

Inflation from 1960 to 1967
Cumulative price change 26.88%
Average inflation rate 3.46%
Converted amount (£1 base) £1.27
Price difference (£1 base) £0.27
CPI in 1960 49.100
CPI in 1967 62.300
Inflation in 1960 1.03%
Inflation in 1967 2.64%