News1 min ago
What Is �20 in 1976 Worth Today?
6 Answers
Either relatively or actual, ta!
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Using the Retail Price Index (RPI) for the 2005 value of �20 in 1975 gives �112.35
The 1976 → 2006 value would be slightly less than this.
(calculation supplied by EH.NET)
The 1976 → 2006 value would be slightly less than this.
(calculation supplied by EH.NET)
Like Spudqueen, I was thinking that �20 in 1976 was worth about 10% less than the weekly pay of someone paid at a 'basic' rate. That would make it worth about �180 today.
The price of a pint of bitter in 1976 was about 15p. Now it's about 15 times that price. So to buy the same quantity of beer would require �300 today.
If you do the same calculation based on the price of cigarettes, the multiplier is around 20. So, to buy the same quantity of cigarettes would cost about �400.
On the other hand, around 1976, I bought a 'cheap' digital watch. (It was one of the first LCD types). It was in a sale, reduced from �76 to �38. By that comparison, �20 in 1976 would have bought roughly half of a basic digital watch. Given that market traders sell digital watches for 99p, that means that �20 in 1976 equates to about 50p today!
50p or �400? It all depends how you work it out!
Chris
The price of a pint of bitter in 1976 was about 15p. Now it's about 15 times that price. So to buy the same quantity of beer would require �300 today.
If you do the same calculation based on the price of cigarettes, the multiplier is around 20. So, to buy the same quantity of cigarettes would cost about �400.
On the other hand, around 1976, I bought a 'cheap' digital watch. (It was one of the first LCD types). It was in a sale, reduced from �76 to �38. By that comparison, �20 in 1976 would have bought roughly half of a basic digital watch. Given that market traders sell digital watches for 99p, that means that �20 in 1976 equates to about 50p today!
50p or �400? It all depends how you work it out!
Chris
Try this site, www.thisismoney.co.uk, click "Tools and Calculators" (on the left), then click "Calculators", then scroll down to "Historic Inflation Calculator". According to this particular website, a 1976 �20 note is worth �86.20 today.
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