£100 in 1994 is worth £254.49 today

The British pound has lost 61% its value since 1994

Updated: February 14, 2022

£100 in 1994 is equivalent in purchasing power to about £254.49 today, an increase of £154.49 over 29 years. The pound had an average inflation rate of 3.27% per year between 1994 and today, producing a cumulative price increase of 154.49%.

This means that today's prices are 2.54 times as high as average prices since 1994, according to the Office for National Statistics composite price index. A pound today only buys 39.294% of what it could buy back then.

The inflation rate in 1994 was 2.41%. The current inflation rate compared to last year is now 10.70%. If this number holds, £100 today will be equivalent in buying power to £110.70 next year.

Inflation from 1994 to 2023
Cumulative price change154.49%
Average inflation rate3.27%
Converted amount (£100 base)£254.49
Price difference (£100 base)£154.49
CPI in 1994568.500
CPI in 20231,446.752
Inflation in 19942.41%
Inflation in 202310.70%
£100 in 1994£254.49 in 2023

GBP inflation since 1994
Annual Rate, the Office for National Statistics CPI

Buying power of £100 in 1994

This chart shows a calculation of buying power equivalence for £100 in 1994 (price index tracking began in 1750).

For example, if you started with £100, you would need to end with £254.49 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £100 is equivalent to £254.49 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 1994 dollars, the chart below shows how £100 is worth less over 29 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: 1994-2023
YearPound ValueInflation Rate
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 23 more rows

This conversion table shows various other 1994 amounts in today's pounds, based on the 154.49% change in prices:

Conversion: 1994 pounds today
Initial valueEquivalent value
£1 pound in 1994£2.54 pounds today
£5 pounds in 1994£12.72 pounds today
£10 pounds in 1994£25.45 pounds today
£50 pounds in 1994£127.24 pounds today
£100 pounds in 1994£254.49 pounds today
£500 pounds in 1994£1,272.43 pounds today
£1,000 pounds in 1994£2,544.86 pounds today
£5,000 pounds in 1994£12,724.29 pounds today
£10,000 pounds in 1994£25,448.58 pounds today
£50,000 pounds in 1994£127,242.88 pounds today
£100,000 pounds in 1994£254,485.76 pounds today
£500,000 pounds in 1994£1,272,428.78 pounds today
£1,000,000 pounds in 1994£2,544,857.56 pounds today

How to calculate inflation rate for £100 since 1994

Our calculations use the following inflation rate formula to calculate the change in value between 1994 and today:

CPI today CPI in 1994
1994 GBP value
Today's value

Then plug in historical CPI values. The U.K. CPI was 568.5 in the year 1994 and 1446.7515236795698 in 2023:


£100 in 1994 has the same "purchasing power" or "buying power" as £254.49 in 2023.

To get the total inflation rate for the 29 years between 1994 and 2023, we use the following formula:

CPI in 2023 - CPI in 1994CPI in 1994
Cumulative inflation rate (29 years)

Plugging in the values to this equation, we get:

1446.7515236795698 - 568.5568.5

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 1994 British pounds today | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 14 Mar. 2023, https://www.officialdata.org/uk/inflation/1994.

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 1994 to 2023
Cumulative price change154.49%
Average inflation rate3.27%
Converted amount (£100 base)£254.49
Price difference (£100 base)£154.49
CPI in 1994568.500
CPI in 20231,446.752
Inflation in 19942.41%
Inflation in 202310.70%
£100 in 1994£254.49 in 2023