£2,000 in 1950 → £66,763.23 in 2018

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£2,000 in 1950 → £66,763.23 in 2018

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UK Inflation Rate, £2,000 in 1950 to 2018

According to the Office for National Statistics composite price index, prices in 2018 are 3,238.16% higher than average prices throughout 1950. The pound experienced an average inflation rate of 5.29% per year during this period, meaning the real value of a dollar decreased.

In other words, £2,000 in 1950 is equivalent in purchasing power to about £66,763.23 in 2018, a difference of £64,763.23 over 68 years.

The 1950 inflation rate was 3.13%. The inflation rate in 2018 was 2.48%. The 2018 inflation rate is higher compared to the average inflation rate of 1.80% per year between 2018 and 2019.


Inflation from 1950 to 2018
Cumulative price change 3,238.16%
Average inflation rate 5.29%
Converted amount (£2,000 base) £66,763.23
Price difference (£2,000 base) £64,763.23
CPI in 1950 33.000
CPI in 2018 1,101.593
Inflation in 1950 3.13%
Inflation in 2018 2.48%

UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


Buying power of £2,000 in 1950

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £2,000 in 1950 (price index tracking began in 1750).

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Year Pound Value Inflation Rate
1950 £2,000.00 3.13%
1951 £2,181.82 9.09%
1952 £2,381.82 9.17%
1953 £2,454.55 3.05%
1954 £2,503.03 1.98%
1955 £2,612.12 4.36%
1956 £2,745.45 5.10%
1957 £2,842.42 3.53%
1958 £2,933.33 3.20%
1959 £2,945.45 0.41%
1960 £2,975.76 1.03%
1961 £3,078.79 3.46%
1962 £3,212.12 4.33%
1963 £3,272.73 1.89%
1964 £3,381.82 3.33%
1965 £3,539.39 4.66%
1966 £3,678.79 3.94%
1967 £3,775.76 2.64%
1968 £3,951.52 4.65%
1969 £4,163.64 5.37%
1970 £4,430.30 6.40%
1971 £4,848.48 9.44%
1972 £5,193.94 7.13%
1973 £5,666.67 9.10%
1974 £6,575.76 16.04%
1975 £8,169.70 24.24%
1976 £9,521.21 16.54%
1977 £11,030.30 15.85%
1978 £11,945.45 8.30%
1979 £13,545.45 13.39%
1980 £15,981.82 17.99%
1981 £17,878.79 11.87%
1982 £19,418.18 8.61%
1983 £20,309.09 4.59%
1984 £21,321.21 4.98%
1985 £22,618.18 6.08%
1986 £23,387.88 3.40%
1987 £24,363.64 4.17%
1988 £25,557.58 4.90%
1989 £27,545.45 7.78%
1990 £30,151.52 9.46%
1991 £31,921.21 5.87%
1992 £33,115.15 3.74%
1993 £33,642.42 1.59%
1994 £34,454.55 2.41%
1995 £35,648.48 3.47%
1996 £36,509.09 2.41%
1997 £37,654.55 3.14%
1998 £38,945.45 3.43%
1999 £39,545.45 1.54%
2000 £40,715.15 2.96%
2001 £41,436.36 1.77%
2002 £42,127.27 1.67%
2003 £43,345.45 2.89%
2004 £44,636.36 2.98%
2005 £45,896.97 2.82%
2006 £47,363.64 3.20%
2007 £49,393.94 4.29%
2008 £51,363.64 3.99%
2009 £51,090.91 -0.53%
2010 £53,448.48 4.61%
2011 £56,230.30 5.20%
2012 £58,036.36 3.21%
2013 £59,800.00 3.04%
2014 £61,212.12 2.36%
2015 £61,818.18 0.99%
2016 £62,890.91 1.74%
2017 £65,145.45 3.58%
2018 £66,763.23 2.48%
2019 £67,964.97 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 62 more rows

How to Calculate Inflation Rate for £2,000, 1950 to 2018

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 1950
×
1950 GBP value
=
2018 GBP value

Then plug in historical CPI values. The UK CPI was 33 in the year 1950 and 1101.59335 in 2018:

1101.5933533
×
£2,000
=
£66,763.23

£2,000 in 1950 has the same "purchasing power" or "buying power" as £66,763.23 in 2018.

To get the total inflation rate for the 68 years between 1950 and 2018, we use the following formula:

CPI in 2018 - CPI in 1950CPI in 1950
×
100
=
Cumulative inflation rate (68 years)

Plugging in the values to this equation, we get:

1101.59335 - 3333
×
100
=
3,238%

News headlines from 1950

Politics and news often influence economic performance. Here's what was happening at the time:

  • Jerusalem is proclaimed the capital of Israel by Knesset
  • North Korea invades South Korea.
  • Harry Truman announces that America will seek to develop a hydrogen bomb.
  • Chinese forces occupy Tibet.

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£2,000 in 1950 → 2018 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 18 Oct. 2019, https://www.officialdata.org/1950-GBP-in-2018?amount=2000.

Special thanks to QuickChart for providing downloadable chart images.


» Read more about inflation and investment.

Inflation from 1950 to 2018
Cumulative price change 3,238.16%
Average inflation rate 5.29%
Converted amount (£2,000 base) £66,763.23
Price difference (£2,000 base) £64,763.23
CPI in 1950 33.000
CPI in 2018 1,101.593
Inflation in 1950 3.13%
Inflation in 2018 2.48%
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