£50 in 1964 → £953.06 in 2017

UK Inflation Calculator


UK Inflation Rate, 1964-2017 (£50)

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 5.72% per year. Prices in 2017 are 1806.1% higher than prices in 1964.

In other words, £50 in the year 1964 is equivalent in purchasing power to £953.06 in 2017, a difference of £903.06 over 53 years.

The inflation rate in 2017 was 2.53%.

Inflation from 1964 to 2017
Cumulative price change 1806.13%
Average inflation rate 5.72%
Price difference (£50 base) £903.06
CPI in 1964 55.8
CPI in 2017 1063.61928

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

How to calculate the inflation rate for £50, 1964 to 2017

Start with the inflation rate formula:

CPI in 2017 / CPI in 1964 * 1964 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 55.8 in the year 1964 and 1063.61928 in 2017:

1063.61928 / 55.8 * £50 = £953.06

£50 in 1964 has the same "purchasing power" as £953.06 in 2017.

News headlines from 1964

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

  • Jomo Kenyatta becomes first President of Kenya after it becomes a republic.
  • Nelson Mandela is sentenced to life-long imprisonment in South Africa.
  • President Lyndon B. Johnson signs the Civil Rights Act and Voting Rights Act into law.

Inflation Data Source

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: “£50 in 1964 → 2017 | UK Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 21 Mar. 2018, http://www.in2013dollars.com/1964-GBP-in-2017?amount=50.

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