What Is �20 in 1976 Worth Today?

[cupboardie]

Either relatively or actual, ta!

[kempie]

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)

[dennis m]

�96.44

[spudqueen]

I knew a 16 year old girl whose first job paid about �22 a week in 1977 if that's any help.

[Buenchico]

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

[ugly_bob]

Or in houses, would work out around �400 also

�15,000 house in 1977 now worth around �300,000