# £1,496,874 in 1967 is worth £27,348,425.24 today

£

## Value of £1,496,874 from 1967 to 2020

According to the Office for National Statistics composite price index, today's prices in 2020 are 1,727.04% higher than average prices since 1967. The British pound experienced an average inflation rate of 5.63% per year during this period, causing the real value of a pound to decrease.

In other words, £1,496,874 in 1967 is equivalent in purchasing power to about £27,348,425.24 in 2020, a difference of £25,851,551.24 over 53 years.

The 1967 inflation rate was 2.64%. The current year-over-year inflation rate (2019 to 2020) is now 1.50%1. If this number holds, £1,496,874 today will be equivalent in buying power to £1,519,327.11 next year.

 Cumulative price change 1,727.04% Average inflation rate 5.63% Converted amount (£1,496,874 base) £27,348,425.24 Price difference (£1,496,874 base) £25,851,551.24 CPI in 1967 62.300 CPI in 2020 1,138.243 Inflation in 1967 2.64% Inflation in 2020 1.50%

GBP Inflation since 1750
Annual Rate, the Office for National Statistics CPI

## Buying power of £1,496,874 in 1967

This chart shows a calculation of buying power equivalence for £1,496,874 in 1967 (price index tracking began in 1750).

For example, if you started with £1,496,874, you would need to end with £27,348,425.24 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1,496,874 is equivalent to £27,348,425.24 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1967 dollars, the chart below shows how £1,496,874 is worth less over 53 years.

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:

Pound inflation: 1967-2020
Year Pound Value Inflation Rate
1967 £1,496,874.00 2.64%
1968 £1,566,551.92 4.65%
1969 £1,650,645.97 5.37%
1970 £1,756,364.20 6.40%
1971 £1,922,149.60 9.44%
1972 £2,059,102.76 7.13%
1973 £2,246,512.34 9.10%
1974 £2,606,915.39 16.04%
1975 £3,238,822.07 24.24%
1976 £3,774,621.27 16.54%
1977 £4,372,890.34 15.85%
1978 £4,735,696.07 8.30%
1979 £5,370,005.44 13.39%
1980 £6,335,885.61 17.99%
1981 £7,087,926.65 11.87%
1982 £7,698,209.14 8.61%
1983 £8,051,404.13 4.59%
1984 £8,452,652.86 4.98%
1985 £8,966,827.88 6.08%
1986 £9,271,969.13 3.40%
1987 £9,658,801.73 4.17%
1988 £10,132,131.07 4.90%
1989 £10,920,212.41 7.78%
1990 £11,953,367.82 9.46%
1991 £12,654,952.42 5.87%
1992 £13,128,281.76 3.74%
1993 £13,337,315.53 1.59%
1994 £13,659,275.59 2.41%
1995 £14,132,604.92 3.47%
1996 £14,473,786.48 2.41%
1997 £14,927,894.32 3.14%
1998 £15,439,666.65 3.43%
1999 £15,677,532.66 1.54%
2000 £16,141,251.26 2.96%
2001 £16,427,171.01 1.77%
2002 £16,701,077.33 1.67%
2003 £17,184,017.41 2.89%
2004 £17,695,789.74 2.98%
2005 £18,195,548.64 2.82%
2006 £18,776,998.89 3.20%
2007 £19,581,899.04 4.29%
2008 £20,362,772.31 3.99%
2009 £20,254,651.40 -0.53%
2010 £21,189,296.64 4.61%
2011 £22,292,129.97 5.20%
2012 £23,008,130.70 3.21%
2013 £23,707,312.61 3.04%
2014 £24,267,138.68 2.36%
2015 £24,507,407.38 0.99%
2016 £24,932,682.98 1.74%
2017 £25,826,482.55 3.58%
2018 £26,467,840.20 2.48%
2019 £26,944,261.32 1.80%
2020 £27,348,425.24 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 47 more rows

This conversion table shows various other 1967 amounts in today's pounds, based on the 1,727.04% change in prices:

Conversion Table: Value of a pound today
Initial value Equivalent value
£1 pound in 1967 £18.27 pounds today
£5 pounds in 1967 £91.35 pounds today
£10 pounds in 1967 £182.70 pounds today
£50 pounds in 1967 £913.52 pounds today
£100 pounds in 1967 £1,827.04 pounds today
£500 pounds in 1967 £9,135.18 pounds today
£1,000 pounds in 1967 £18,270.36 pounds today
£5,000 pounds in 1967 £91,351.79 pounds today
£10,000 pounds in 1967 £182,703.59 pounds today
£50,000 pounds in 1967 £913,517.95 pounds today
£100,000 pounds in 1967 £1,827,035.89 pounds today
£500,000 pounds in 1967 £9,135,179.46 pounds today
£1,000,000 pounds in 1967 £18,270,358.92 pounds today

## How to Calculate Inflation Rate for £1,496,874 since 1967

Our calculations use the following inflation rate formula to calculate the change in value between 1967 and today:

CPI today CPI in 1967
×
1967 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 62.3 in the year 1967 and 1138.2433607545 in 2020:

1138.243360754562.3
×
£1,496,874
=
£27,348,425.24

£1,496,874 in 1967 has the same "purchasing power" or "buying power" as £27,348,425.24 in 2020.

To get the total inflation rate for the 53 years between 1967 and 2020, we use the following formula:

CPI in 2020 - CPI in 1967CPI in 1967
×
100
=
Cumulative inflation rate (53 years)

Plugging in the values to this equation, we get:

1138.2433607545 - 62.362.3
×
100
=
1,727%

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

• The largest US airborne assault since WWII occurs in Vietnam, known as Operation Junction City: 25,000 United States and South Vietnamese troops attack the Viet Cong.
• The world's first ATM machine is installed in London.
• The 6-day War begins between Israel and the Arabs.

## 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: “£1,496,874 in 1967 → 2020 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Nov. 2020, https://www.officialdata.org/uk/inflation/1967?amount=1496874.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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