UK inflation rate in 1968: 4.65%

UK Inflation Calculator


UK Inflation Rate, 1968-2017 (£1)

The composite price index (CPI) in 1968 was 65.2. 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 5.87% per year. Prices in 2017 are 1534.0% higher than prices in 1968.

In other words, £1 in the year 1968 is equivalent to £16.34 in 2017, a difference of £15.34 over 49 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 1968 to 2017
Cumulative price change 1533.97%
Average inflation rate 5.87%
Price difference (£1 base) £15.34
CPI in 1968 65.2
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 1968

Start with the inflation rate formula:

CPI in 2017 / CPI in 1968 * 1968 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 65.2 in the year 1968 and 1065.34818 in 2017:

1065.34818 / 65.2 * £1 = £16.34

£1 in 1968 has the same "purchasing power" as £16.34 in 2017.

News headlines from 1968

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

  • The Battle of Khe Sanh begins it is one of the most controversial battles of the Vietnam War.
  • A photograph that later became an anti-war icon, is taken: it captures Saigon police chief Nguyễn Ngọc Loan executing Viet Cong officer Nguyễn Văn Lém with a pistol shot to the head.
  • Martin Luther King Jr is assassinated in Memphis, Tennessee.
  • France becomes the world's 5th thermonuclear power after the Mururoa Atoll detonation.

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.