£1 in 1980 is worth £0.69 in 1977

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Value of £1 from 1980 to 1977

£1 in 1980 is equivalent in purchasing power to about £0.69 in 1977, an increase of £-0.31 over 3 years. The pound had an average inflation rate of 13.16% per year between 1977 and 1980, producing a cumulative price increase of -30.98%.

This means that prices in 1977 are 30.98% lower than average prices since 1980, according to the Office for National Statistics composite price index.

The 1977 inflation rate was 15.85%. The inflation rate in 1980 was 17.99%. The 1980 inflation rate is higher compared to the average inflation rate of 3.72% per year between 1980 and 2020.

 Cumulative price change -30.98% Average inflation rate 13.16% Converted amount (£1 base) £0.69 Price difference (£1 base) £-0.31 CPI in 1980 263.700 CPI in 1977 182.000 Inflation in 1977 15.85% Inflation in 1980 17.99% £1 in 1980 £0.69 in 1977

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

Buying power of £1 in 1977

This chart shows a calculation of buying power equivalence for £1 in 1977 (price index tracking began in 1750).

For example, if you started with £1, you would need to end with £0.69 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £1 is equivalent to £0.69 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 1977 dollars, the chart below shows how £1 is worth less over 3 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: 1977-1980
Year Pound Value Inflation Rate
1977 £1.00 15.85%
1978 £1.08 8.30%
1979 £1.23 13.39%
1980 £1.45 17.99%
1981 £1.62 11.87%
1982 £1.76 8.61%
1983 £1.84 4.59%
1984 £1.93 4.98%
1985 £2.05 6.08%
1986 £2.12 3.40%
1987 £2.21 4.17%
1988 £2.32 4.90%
1989 £2.50 7.78%
1990 £2.73 9.46%
1991 £2.89 5.87%
1992 £3.00 3.74%
1993 £3.05 1.59%
1994 £3.12 2.41%
1995 £3.23 3.47%
1996 £3.31 2.41%
1997 £3.41 3.14%
1998 £3.53 3.43%
1999 £3.59 1.54%
2000 £3.69 2.96%
2001 £3.76 1.77%
2002 £3.82 1.67%
2003 £3.93 2.89%
2004 £4.05 2.98%
2005 £4.16 2.82%
2006 £4.29 3.20%
2007 £4.48 4.29%
2008 £4.66 3.99%
2009 £4.63 -0.53%
2010 £4.85 4.61%
2011 £5.10 5.20%
2012 £5.26 3.21%
2013 £5.42 3.04%
2014 £5.55 2.36%
2015 £5.60 0.99%
2016 £5.70 1.74%
2017 £5.91 3.58%
2018 £6.05 2.48%
2019 £6.16 1.80%
2020 £6.25 1.50%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1977 amounts in 1980 pounds, based on the -30.98% change in prices:

Conversion: 1977 pounds in 1980
Initial value Equivalent value
£1 pound in 1977 £1.45 pounds in 1980
£5 pounds in 1977 £7.24 pounds in 1980
£10 pounds in 1977 £14.49 pounds in 1980
£50 pounds in 1977 £72.45 pounds in 1980
£100 pounds in 1977 £144.89 pounds in 1980
£500 pounds in 1977 £724.45 pounds in 1980
£1,000 pounds in 1977 £1,448.90 pounds in 1980
£5,000 pounds in 1977 £7,244.51 pounds in 1980
£10,000 pounds in 1977 £14,489.01 pounds in 1980
£50,000 pounds in 1977 £72,445.05 pounds in 1980
£100,000 pounds in 1977 £144,890.11 pounds in 1980
£500,000 pounds in 1977 £724,450.55 pounds in 1980
£1,000,000 pounds in 1977 £1,448,901.10 pounds in 1980

How to Calculate Inflation Rate for £1, 1977 to 1980

Our calculations use the following inflation rate formula to calculate the change in value between 1977 and 1980:

CPI in 1977 CPI in 1980
×
1980 GBP value
=
1977 GBP value

Then plug in historical CPI values. The U.K. CPI was 263.7 in the year 1980 and 182 in 1977:

182263.7
×
£1
=
£0.69

£1 in 1980 has the same "purchasing power" or "buying power" as £0.69 in 1977.

To get the total inflation rate for the 3 years between 1977 and 1980, we use the following formula:

CPI in 1977 - CPI in 1980CPI in 1980
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

182 - 263.7263.7
×
100
=
-31%

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

• Princess Victoria is crowned Princess of Sweden.
• Iranian protesters storm the Russian embassy in Iran.
• Abdou Diouf is elected president of Senegal after being Prime Minister for ten years.
• Cable News Network (CNN) is transmitted for the first time.
• Saddam Hussein, President of Iraq, declares a holy war on Iran.

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 1980 → 1977 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Jan. 2021, https://www.officialdata.org/uk/inflation/1980?amount=1&endYear=1977.

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.