# £1 in 1980 is worth £0.85 in 1979

£

## Value of £1 from 1980 to 1979

According to the Office for National Statistics composite price index, prices in 1979 are 15.24% lower than average prices since 1980. The British pound experienced an average inflation rate of 17.99% per year during this period, causing the real value of a pound to decrease.

In other words, £1 in 1980 is equivalent in purchasing power to about £0.85 in 1979.

The 1979 inflation rate was 13.39%. 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.

 Average inflation rate 17.99% Converted amount (£1 base) £0.85 Price difference (£1 base) £-0.15 CPI in 1980 263.700 CPI in 1979 223.500 Inflation in 1979 13.39% Inflation in 1980 17.99%

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

## How to Calculate Inflation Rate for £1, 1979 to 1980

Our calculations use the following inflation rate formula to calculate the change in value between 1979 and 1980:

CPI in 1979 CPI in 1980
×
1980 GBP value
=
1979 GBP value

Then plug in historical CPI values. The U.K. CPI was 263.7 in the year 1980 and 223.5 in 1979:

223.5263.7
×
£1
=
£0.85

£1 in 1980 has the same "purchasing power" or "buying power" as £0.85 in 1979.

To get the total inflation rate for the 1 years between 1979 and 1980, we use the following formula:

CPI in 1979 - CPI in 1980CPI in 1980
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

223.5 - 263.7263.7
×
100
=
-15%

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 → 1979 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Oct. 2020, https://www.officialdata.org/uk/inflation/1980?amount=1&endYear=1979.

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 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.

 Average inflation rate 17.99% Converted amount (£1 base) £0.85 Price difference (£1 base) £-0.15 CPI in 1980 263.700 CPI in 1979 223.500 Inflation in 1979 13.39% Inflation in 1980 17.99%