Quick money question

[Wacky Racer]

Anyone have any idea how much £18,500 in 1987 would be worth today......?

I know there are one or two online calulation sites but they seem to vary a bit, would like to know within a couple of thousand or so.....

Also £7 in 1969..........

Thanks in anticipation.....

[ringram]

No wonder it varies.
Cash under the mattress, or in bank?
Paying what interest?
Real terms or nominal... etc

[Wacky Racer]

ringram said:

No wonder it varies.
Cash under the mattress, or in bank?
Paying what interest?
Real terms or nominal... etc

Sorry, should have said...in real terms..ie:- NOT invested.

[waterwonder]

Wacky Racer said:

Sorry, should have said...in real terms..ie:- NOT invested.

To get the same spending power as £18,500 in 1987 you probably need take the compound CPI inbetween then and now. Although other factors are available.

http://www.whatsthecost.com/cpi.aspx

Reckons it would be £37.5k

Edited for being thick on a sat morning.

Edited by waterwonder on Saturday 9th November 09:50

Edited by waterwonder on Saturday 9th November 10:09

[Wacky Racer]

Holywow said:

£44,100 for the 1987 £18,500

£97 for the 1969 £7

OK thanks...

Those are the answers I was looking for....

Appreciate all the replies by the way.....

[GrizzlyBear]

Holywow said:

If in 1969 you had invested in property.
Every £1 invested would now be worth between £130 and £250.

So £7 would be worth £910 to £1,750.


The numbers above are calculated on a basket of products so it's not an exact figure.

To get an exact figure you need to specify the asset.

Although 1969 was just before a large property bubble, and we are now very much still in a property bubble territory, that is the problem with comparisons, you need to know where the bubbles are and why they happened.

I am guessing the £7 was a salary?

I seem to remember an article that said if a chicken had suffered the same inflation as houses over the last 50 years it would cost about £50! rather worrying really.

[Skyedriver]

Interesting, I started work in 1970 at the age of 17. Trainee Site Engineer Tarmac, and I was getting £6/week or £83 in todays rates. went up to £7 week after a year and still wasn't paying any tax etc. Mind, I jumped ship and went to work for t'council in 1973 and doubled my salary...