1976 value to todays equivalent

[HogF]

do you have have an accurate rate at which I should multiply to get todays equivalent? also for 79 and 83.

[rinkytink]

There is a price and inflation calculator that will do this for you. You can find it here:

http://www.thisismoney.com/undated/ff954.html

Incidently one pound today was 23p in 1976, 33p in 1979 and 50p in 1983. Not sure what the fornula is behind this - I presume it would have to change for each year because the rate of inflation fluctuates.

[Quizmonster]

That's a nice site, Rinkytink, and I'm sure it works perfectly well for lots of items. However, it's wildly out on house-prices and the cost of a pint of beer - certainly in my area!

I know, HogF, that you asked for an 'accurate' calculation-method, but here's a 'rough' one that seems to work pretty well for house prices if nothing else..."Prices double every nine years." A house selling for �160,000 today probably sold for �80,000 in 1995 and �40,000 in 1986.

[rinkytink]

You're Right Quizmonster. I think that the calculator works well for calculating actual money values or the cost of things that rise in line with inflation. It probably uses the rate of inflation for particular years in its formula. Things such as beer have been subject to increases in taxation as well as inflation, and property prices never seem to rise or fall in line with inflation. So perhaps for an acurate calculation one would have to use a different formula depending on the type of thing that wants valuing.

[HogF]

Thank you Rinkytink, this site has proved most useful