£150 in 2002 is worth £312.20 today

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Value of £150 from 2002 to 2023

£150 in 2002 is equivalent in purchasing power to about £312.20 today, an increase of £162.20 over 21 years. The pound had an average inflation rate of 3.55% per year between 2002 and today, producing a cumulative price increase of 108.14%.

This means that today's prices are 2.08 times as high as average prices since 2002, according to the Office for National Statistics composite price index. A pound today only buys 48.046% of what it could buy back then.

The inflation rate in 2002 was 1.67%. The current inflation rate compared to last year is now 10.70%. If this number holds, £150 today will be equivalent in buying power to £166.05 next year.

 Cumulative price change 108.14% Average inflation rate 3.55% Converted amount£150 base £312.20 Price difference£150 base £162.20 CPI in 2002 695.100 CPI in 2023 1,446.752 Inflation in 2002 1.67% Inflation in 2023 10.70% £150 in 2002 £312.20 in 2023

GBP inflation since 2002
Annual Rate, the Office for National Statistics CPI

Buying power of £150 in 2002

This chart shows a calculation of buying power equivalence for £150 in 2002 (price index tracking began in 1750).

For example, if you started with £150, you would need to end with £312.20 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £150 is equivalent to £312.20 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 2002 dollars, the chart below shows how £150 is worth less over 21 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: 2002-2023
YearPound ValueInflation Rate
2002£150.001.67%
2003£154.342.89%
2004£158.932.98%
2005£163.422.82%
2006£168.643.20%
2007£175.874.29%
2008£182.893.99%
2009£181.92-0.53%
2010£190.314.61%
2011£200.225.20%
2012£206.653.21%
2013£212.933.04%
2014£217.952.36%
2015£220.110.99%
2016£223.931.74%
2017£231.963.58%
2018£238.222.70%
2019£244.182.50%
2020£248.571.80%
2021£254.772.49%
2022£282.0310.70%
2023£312.2010.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 15 more rows

This conversion table shows various other 2002 amounts in today's pounds, based on the 108.14% change in prices:

Conversion: 2002 pounds today
Initial valueEquivalent value
£1 pound in 2002£2.08 pounds today
£5 pounds in 2002£10.41 pounds today
£10 pounds in 2002£20.81 pounds today
£50 pounds in 2002£104.07 pounds today
£100 pounds in 2002£208.14 pounds today
£500 pounds in 2002£1,040.68 pounds today
£1,000 pounds in 2002£2,081.36 pounds today
£5,000 pounds in 2002£10,406.79 pounds today
£10,000 pounds in 2002£20,813.57 pounds today
£50,000 pounds in 2002£104,067.87 pounds today
£100,000 pounds in 2002£208,135.74 pounds today
£500,000 pounds in 2002£1,040,678.70 pounds today
£1,000,000 pounds in 2002£2,081,357.39 pounds today

How to calculate inflation rate for £150 since 2002

Our calculations use the following inflation rate formula to calculate the change in value between 2002 and today:

CPI today CPI in 2002
×
2002 GBP value
=
Today's value

Then plug in historical CPI values. The U.K. CPI was 695.1 in the year 2002 and 1446.7515236795698 in 2023:

1446.7515236795698695.1
×
£150
=
£312.20

£150 in 2002 has the same "purchasing power" or "buying power" as £312.20 in 2023.

To get the total inflation rate for the 21 years between 2002 and 2023, we use the following formula:

CPI in 2023 - CPI in 2002CPI in 2002
×
100
=
Cumulative inflation rate (21 years)

Plugging in the values to this equation, we get:

1446.7515236795698 - 695.1695.1
×
100
=
108%

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: “£150 in 2002 → 2023 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Oct. 2023, https://www.officialdata.org/uk/inflation/2002?amount=150.

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.