money mail question 30)

[jppd]

30) pensioners £10 christmas bonus of 1972 would be worth ? if increased by retail price index
A) £56 B)£72 C)£97 D)£108
i calculated it to £105.82 which is closest to D
but some have said the answer is C ,have i made error
THANKS IN ADVANCE....tracey

[bod762]

Because the RPI fluctuated so much over the period I averaged it at 3.1% and only got £32.86 sorry to confuse

[bod762]

Apologies jppd the answer is C check mail online article headed Treasury chiefs branded scrooges for giving pensioners a bonus of £10 to verify

[boxtops]

This one says £97 http://www.theanswerb.../Question1089706.html

[factor-fiction]

Based on the following site £10 in 1972 was worth £99 in 2010 based on RPI. Adding on inflation of just over 5% for 2011 I think the value would now be around £105
http://safalra.com/ot...ion-price-conversion/
Unfortunately I'm not sure whether that table is based on January of each year or December of each year.
So I'm not sure which is right, although as RPI was quite high in 1972, I think the December 72 to December 2011 figure is more likely to be around 102. Again that doesn't help, but I do think £108 seems a little too high

[orly]

there are lots of references from late 2009 saying it should have been uprated to £98 then so I reckon your calculation is accurate

[orly]

plus I found this which also suggest the higher figure D


Current data is only available till 2010. In 2010, the relative worth of £10.00 from 1972 is:

£103.00

using the retail price index
£98.50

using the GDP deflator
£174.00

using the average earnings
£204.00

using the per capita GDP
£226.00

using the share of GDP

[factor-fiction]

Hi orly-
the safalra site here suggests the 2010 value was £99 rather than £103
http://safalra.com/ot...ion-price-conversion/