£100 in 1976 is worth £738.35 today

Why a pound today is worth only 14% of a pound in 1976

Updated: July 13, 2021

£100 in 1976 is equivalent in purchasing power to about £738.35 today, an increase of £638.35 over 45 years. The pound had an average inflation rate of 4.54% per year between 1976 and today, producing a cumulative price increase of 638.35%.

This means that today's prices are 7.38 times higher than average prices since 1976, according to the Office for National Statistics composite price index. A pound today only buys 13.54% of what it could buy back then.

The 1976 inflation rate was 16.54%. The current year-over-year inflation rate (2020 to 2021) is now 0.70%1. If this number holds, £100 today will be equivalent in buying power to £100.70 next year.


Inflation from 1976 to 2021
Cumulative price change 638.35%
Average inflation rate 4.54%
Converted amount (£100 base) £738.35
Price difference (£100 base) £638.35
CPI in 1976 157.100
CPI in 2021 1,159.951
Inflation in 1976 16.54%
Inflation in 2021 0.70%
£100 in 1976 £738.35 in 2021

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

Buying power of £100 in 1976

This chart shows a calculation of buying power equivalence for £100 in 1976 (price index tracking began in 1750).

For example, if you started with £100, you would need to end with £738.35 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £100 is equivalent to £738.35 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 1976 dollars, the chart below shows how £100 is worth less over 45 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: 1976-2021
Year Pound Value Inflation Rate
1976 £100.00 16.54%
1977 £115.85 15.85%
1978 £125.46 8.30%
1979 £142.27 13.39%
1980 £167.85 17.99%
1981 £187.78 11.87%
1982 £203.95 8.61%
1983 £213.30 4.59%
1984 £223.93 4.98%
1985 £237.56 6.08%
1986 £245.64 3.40%
1987 £255.89 4.17%
1988 £268.43 4.90%
1989 £289.31 7.78%
1990 £316.68 9.46%
1991 £335.26 5.87%
1992 £347.80 3.74%
1993 £353.34 1.59%
1994 £361.87 2.41%
1995 £374.41 3.47%
1996 £383.45 2.41%
1997 £395.48 3.14%
1998 £409.04 3.43%
1999 £415.34 1.54%
2000 £427.63 2.96%
2001 £435.20 1.77%
2002 £442.46 1.67%
2003 £455.25 2.89%
2004 £468.81 2.98%
2005 £482.05 2.82%
2006 £497.45 3.20%
2007 £518.78 4.29%
2008 £539.47 3.99%
2009 £536.60 -0.53%
2010 £561.36 4.61%
2011 £590.58 5.20%
2012 £609.55 3.21%
2013 £628.07 3.04%
2014 £642.90 2.36%
2015 £649.27 0.99%
2016 £660.53 1.74%
2017 £684.21 3.58%
2018 £702.69 2.70%
2019 £720.25 2.50%
2020 £733.22 1.80%
2021 £738.35 0.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 39 more rows

This conversion table shows various other 1976 amounts in today's pounds, based on the 638.35% change in prices:

Conversion: 1976 pounds today
Initial value Equivalent value
£1 pound in 1976 £7.38 pounds today
£5 pounds in 1976 £36.92 pounds today
£10 pounds in 1976 £73.84 pounds today
£50 pounds in 1976 £369.18 pounds today
£100 pounds in 1976 £738.35 pounds today
£500 pounds in 1976 £3,691.76 pounds today
£1,000 pounds in 1976 £7,383.52 pounds today
£5,000 pounds in 1976 £36,917.60 pounds today
£10,000 pounds in 1976 £73,835.20 pounds today
£50,000 pounds in 1976 £369,175.98 pounds today
£100,000 pounds in 1976 £738,351.97 pounds today
£500,000 pounds in 1976 £3,691,759.83 pounds today
£1,000,000 pounds in 1976 £7,383,519.66 pounds today

How to Calculate Inflation Rate for £100 since 1976

Our calculations use the following inflation rate formula to calculate the change in value between 1976 and today:

CPI today CPI in 1976
×
1976 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 157.1 in the year 1976 and 1159.950938 in 2021:

1159.950938157.1
×
£100
=
£738.35

£100 in 1976 has the same "purchasing power" or "buying power" as £738.35 in 2021.

To get the total inflation rate for the 45 years between 1976 and 2021, we use the following formula:

CPI in 2021 - CPI in 1976CPI in 1976
×
100
=
Cumulative inflation rate (45 years)

Plugging in the values to this equation, we get:

1159.950938 - 157.1157.1
×
100
=
638%

News headlines from 1976

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

  • Steve Jobs and Stebe Wozniak invent the Apple Computer in Job's parents' garage.
  • The US Viking 1 lands on Mars, becoming the first man-built object on the Red Planet.
  • Osvaldo Dorticos Torrado is replaced as Cuban President by Fidel Castro.

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: “Value of 1976 pounds today | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Jul. 2021, https://www.officialdata.org/uk/inflation/1976.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1976 to 2021
Cumulative price change 638.35%
Average inflation rate 4.54%
Converted amount (£100 base) £738.35
Price difference (£100 base) £638.35
CPI in 1976 157.100
CPI in 2021 1,159.951
Inflation in 1976 16.54%
Inflation in 2021 0.70%
£100 in 1976 £738.35 in 2021