UK inflation rate in 1966: 3.94%

UK Inflation Calculator

£

UK Inflation Rate, 1966-2017 (£1)

The composite price index (CPI) in 1966 was 60.7. the Office for National Statistics uses this CPI value to track inflation on a monthly basis.

According to the Office for National Statistics, the pound experienced an average inflation rate of 5.78% per year. Prices in 2017 are 1655.1% higher than prices in 1966.

In other words, £1 in the year 1966 is equivalent to £17.55 in 2017, a difference of £16.55 over 51 years.

The current inflation rate in 2017 is 2.70%1. If this number holds, £1 today will be equivalent to £1.03 next year.

Inflation from 1966 to 2017
Cumulative price change 1655.10%
Average inflation rate 5.78%
Price difference (£1 base) £16.55
CPI in 1966 60.7
CPI in 2017 1065.34818


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


How to calculate the inflation rate for £1 since 1966

Start with the inflation rate formula:

CPI in 2017 / CPI in 1966 * 1966 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 60.7 in the year 1966 and 1065.34818 in 2017:

1065.34818 / 60.7 * £1 = £17.55

£1 in 1966 has the same "purchasing power" as £17.55 in 2017.


News headlines from 1966

Politics and news often play an important role in economic performance.

  • Soviet Luna 9 lands on the Moon.
  • Demonstrations are held against the Vietnam War in the United States, Europe and Australia.
  • A treaty prohibiting the use of nuclear weapons in outer space is signed by the United States and the USSR.

Inflation Data Source: This calculator uses 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.


» Read more about inflation.