UK inflation rate in 1973: 9.10%

UK Inflation Calculator

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Inflation since 1973 and its effect on pound value

The composite price index (CPI) in 1973 was 93.5. It was 85.7 in the previous year. This change in CPI is used by the Office for National Statistics to calculate inflation.

According to the Office for National Statistics composite price index, the pound experienced an average inflation rate of 5.63% per year. Prices in 2018 are 1074.6% higher than prices in 1973.

In other words, £100 in 1973 is equivalent in purchasing power to £1,174.62 in 2018, a difference of £1,074.62 over 45 years.

The current inflation rate is now 2.20%1. If this number holds, £100 today will be equivalent to £102.20 next year.

Inflation from 1973 to 2018
Cumulative price change 1074.62%
Average inflation rate 5.63%
Converted amount (£100 base) £1,174.62
Price difference (£100 base) £1,074.62
CPI in 1973 93.5
CPI in 2018 1098.27186


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


How to calculate the inflation rate for £100 since 1973

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1973 * 1973 GBP value = 2018 GBP value

Then plug in historical CPI values. The UK CPI was 93.5 in the year 1973 and 1098.27186 in 2018:

1098.27186 / 93.5 * £100 = £1,174.62

£100 in 1973 has the same "purchasing power" or "buying power" as £1,174.62 in 2018.


Here are calculations of buying power over time for £100 in 1973 (price index tracking began in 1750). Each of these GBP amounts below is equivalent in terms of what it could buy at the time:
Year GBP Value Inflation Rate
1973 £100.00 9.10%
1974 £116.04 16.04%
1975 £144.17 24.24%
1976 £168.02 16.54%
1977 £194.65 15.85%
1978 £210.80 8.30%
1979 £239.04 13.39%
1980 £282.03 17.99%
1981 £315.51 11.87%
1982 £342.67 8.61%
1983 £358.40 4.59%
1984 £376.26 4.98%
1985 £399.14 6.08%
1986 £412.73 3.40%
1987 £429.95 4.17%
1988 £451.02 4.90%
1989 £486.10 7.78%
1990 £532.09 9.46%
1991 £563.32 5.87%
1992 £584.39 3.74%
1993 £593.69 1.59%
1994 £608.02 2.41%
1995 £629.09 3.47%
1996 £644.28 2.41%
1997 £664.49 3.14%
1998 £687.27 3.43%
1999 £697.86 1.54%
2000 £718.50 2.96%
2001 £731.23 1.77%
2002 £743.42 1.67%
2003 £764.92 2.89%
2004 £787.70 2.98%
2005 £809.95 2.82%
2006 £835.83 3.20%
2007 £871.66 4.29%
2008 £906.42 3.99%
2009 £901.60 -0.53%
2010 £943.21 4.61%
2011 £992.30 5.20%
2012 £1,024.17 3.21%
2013 £1,055.29 3.04%
2014 £1,080.21 2.36%
2015 £1,090.91 0.99%
2016 £1,109.45 1.70%
2017 £1,149.34 3.59%
2018 £1,174.62 2.20%*
* Not final. See inflation summary for latest details.

News headlines from 1973

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

  • President Richard Nixon announces the end of the Vietnam War.
  • The longest war in American history finishes after William Rogers and Nguyen Duy Trinh of US and North Vietnam's army sign a cease-fire.
  • The IRA attacks London for the first time following the arrests of 10 of its members.
  • The Senate Watergate Committee begins its hearings.

Inflation Data Source

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: “Inflation Rate in 1973 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Jun. 2018, https://www.officialdata.org/UK-inflation-rate-in-1973.


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