Re: What would 50 pounds sterling in 1947 be worth now?

On 24 Jan 2007 10:51:11 -0800, "Ian" <ian.groups@xxxxxxxxxxxxxx>
wrote:



On 23 Jan, 18:57, "Martin" <n...@xxxxxxxxxxxxxxxxxxxxxxxxxx> wrote:
"David" <isp.user> wrote in messagenews:ugicr2d5agugsidjr9f4t2ilpjh6dblh68@xxxxxxxxxx

If you're thinking of a "shopping basket", even that's impossible. Very few
things in today's basket had been thought of 60 years ago.

It's not impossible at all. The contents of the basket just have to
change over time, that's all, with the overall inflation found as the
sum of individual years' inflations.

A quick google provides
http://www.statistics.gov.uk/downloads/theme_economy/Rp02.pdf which
shows that there have been several rebasings in the RPI, but overall...

June 1947 -> January 1952: 132.5%
January 1952 -> January 1956: 115.8%
January 1956 -> January 1962: 117.5%
January 1962 -> January 1974: 191.8%
January 1974 -> January 1987: 394.5%
January 1987 -> December 2006: 202.7%

So overall June 1947 -> December 2006: 2765%, which means that 50 quid
in 1947 would buy 1382 quid today.

On the other hand, I was looking at an advert for a principal teacher
of ccience in a 1963 copy of the Glasgow Herald recently. Salary was
£525 per annum, which was 30 quid more than the Mini advertised in the
same paper.

Ian


Hi Ian,

Many thanks - much appreciated!

Cheers

David
.