£1 in 1969 is worth £0.94 in 1969

£

Value of £1 from 1970 to 1969

According to the Office for National Statistics composite price index, prices in 1969 are 6.02% lower than average prices since 1970. The British pound experienced an average inflation rate of 6.40% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1970 is equivalent in purchasing power to about £0.94 in 1969.

The 1969 inflation rate was 5.37%. The inflation rate in 1970 was 6.40%. The 1970 inflation rate is higher compared to the average inflation rate of 5.64% per year between 1970 and 2020.

 Average inflation rate 6.40% Converted amount (£1 base) £0.94 Price difference (£1 base) £-0.06 CPI in 1970 73.100 CPI in 1969 68.700 Inflation in 1969 5.37% Inflation in 1970 6.40%

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

How to Calculate Inflation Rate for £1, 1969 to 1970

Our calculations use the following inflation rate formula to calculate the change in value between 1969 and 1970:

CPI in 1969 CPI in 1970
×
1970 GBP value
=
1969 GBP value

Then plug in historical CPI values. The U.K. CPI was 73.1 in the year 1970 and 68.7 in 1969:

68.773.1
×
£1
=
£0.94

£1 in 1970 has the same "purchasing power" or "buying power" as £0.94 in 1969.

To get the total inflation rate for the 1 years between 1969 and 1970, we use the following formula:

CPI in 1969 - CPI in 1970CPI in 1970
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

68.7 - 73.173.1
×
100
=
-6%

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

• January 1st, 1970 established as Epoch time for UNIX systems.
• Rhodesia declares independence and sets up a republican government.
• Aswan Dam opens in Egypt to prevent flooding of the Nile River.
• A Palestinian terrorist organization hijacks three aircrafts in an incident that is later known as Black September.

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 1970 → 1969 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 May. 2020, https://www.officialdata.org/uk/inflation/1970?amount=1&endYear=1969.