# £500 in 1870 → £55,979.96 in 2017

## UK Inflation Calculator

£

### UK Inflation Rate, 1870-2017 (£500)

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 3.26% per year. Prices in 2017 are 11096.0% higher than prices in 1870.

In other words, £500 in the year 1870 is equivalent in purchasing power to £55,979.96 in 2017, a difference of £55,479.96 over 147 years.

The inflation rate in 2017 was 2.53%.

 Cumulative price change 11095.99% Average inflation rate 3.26% Price difference (£500 base) £55,479.96 CPI in 1870 9.5 CPI in 2017 1063.61928

### How to calculate the inflation rate for £500, 1870 to 2017

This inflation calculator uses the following inflation rate formula:

CPI in 2017 / CPI in 1870 * 1870 GBP value = 2017 GBP value

Then plug in historical CPI values. The UK CPI was 9.5 in the year 1870 and 1063.61928 in 2017:

1063.61928 / 9.5 * £500 = £55,979.96

£500 in 1870 has the same "purchasing power" as £55,979.96 in 2017.