Jobs & Education2 mins ago
Old Money Conversion
I was hoping someone might be able to help with this rather abstract question:
What would be the value in today's money (Pound Sterling) of �12,000 from 1896?
Yes, I appreciate it is a very long time ago, but if anyone could help that would be great.
Thanks in advance!
What would be the value in today's money (Pound Sterling) of �12,000 from 1896?
Yes, I appreciate it is a very long time ago, but if anyone could help that would be great.
Thanks in advance!
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.That�s a fair indication and jno�s 10 per cent from 2000 is almost spot on. But it really depends upon what factorisation method you use and the purposes for the calculation. As it says on jno�s link �There is more than one way to translate prices and values from past times into the present. For different purposes�. They use the �average earnings' calc. For other estimations, in 2006 �12,000 from 1896 would equate to:
�954,630.56 using the retail price index
�1,204,093.76 using the GDP deflator
�5,292,521.41 using average earnings
�6,497,386.82 using per capita GDP
�9,932,228.51 using the GDP
Contrary to jno though, I would be tempted to spend it all at once! Either that or invest it and see what it could be worth in 2100!
�954,630.56 using the retail price index
�1,204,093.76 using the GDP deflator
�5,292,521.41 using average earnings
�6,497,386.82 using per capita GDP
�9,932,228.51 using the GDP
Contrary to jno though, I would be tempted to spend it all at once! Either that or invest it and see what it could be worth in 2100!
In 2006, �12000 0s 0d from 1896 is worth
�954,630.56 using the retail price index.
I love this site
http://measuringworth.com/calculators/ppoweruk /result.php?use%5B%5D=CPI&year_early=1896&poun d71=12000&shilling71=&pence71=&amount=12000&ye ar_source=1896&year_result=2006
�954,630.56 using the retail price index.
I love this site
http://measuringworth.com/calculators/ppoweruk /result.php?use%5B%5D=CPI&year_early=1896&poun d71=12000&shilling71=&pence71=&amount=12000&ye ar_source=1896&year_result=2006
There was actually a bit of deflation in the 1890s - the pound bought more at the end of the decade than at the beginning
A useful rule of thumb is
1914 ........�1
1971 �10 (decimalisation)
2000 or now � 100
so it would be � 1.2 m.
which case did they award damages of �12 000
it strikes me as being very high for that time indeed !
P P
Peter, the case is Kitson v Playfair (1896), one of a select number dealing with the effects of a breach of confidence by a doctor- he spoke of his patient's abortion to the family. It crops up in debate over whether medical ethics are legal/morally based.
I was hoping to write a moot on the issue, but had no notion of what damages the counsels would be expecting to argue for.
Thanks again for all your help everyone - and Octavius, the relative price indexes you mention open up a whole new legal battlefront. :-)
I was hoping to write a moot on the issue, but had no notion of what damages the counsels would be expecting to argue for.
Thanks again for all your help everyone - and Octavius, the relative price indexes you mention open up a whole new legal battlefront. :-)