Question

[degreen2014]

How much would £400 in 1970 be worth today.

 

 

Thank you

[Old_Geezer]

https://www.in2013dollars.com/uk/inflation/1970?amount=400

[Hopkirk]

There are lots of ways to calculate it, giving a wide range of possibilities. There is no one answer.

[ToraToraTora]

£1938

[THECORBYLOON]

According to the Bank of England, it would be worth £5,222.04.

[Buenchico]

Please see my post here for an explanation of the many different ways of carrying out such calculations:
https://www.theanswerbank.co.uk/ChatterBank/Question1510069.html

Using the link from the end of my post there (and using 2022 as 'now', due to the current unavailability of accurate data beyond that point) generates the following info:
 

If you want to compare the value of a £400 0s 0d Commodity in 1970 there are four choices. In 2022 the relative:
real price of that commodity is £7,344.00
labour value of that commodity is £11,890.00
income value of that commodity is £14,590.00
economic share of that commodity is £17,780.00

If you want to compare the value of a £400 0s 0d Income or Wealth , in 1970 there are four choices. In 2022 the relative:
real wage or real wealth value of that income or wealth is £7,344.00
labour earnings of that income or wealth is £11,890.00
relative income value of that income or wealth is £14,590.00
relative output value of that income or wealth is £17,780.00

If you want to compare the value of a £400 0s 0d Project in 1970 there are three choices. In 2022 the relative:
real cost of that project is £6,541.00
labour cost of that project is £11,890.00
economic cost of that project is £17,780.00