£120 in 1870 is worth £16,508.36 in 2022

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Value of £120 from 1870 to 2022

£120 in 1870 is equivalent in purchasing power to about £16,508.36 in 2022, an increase of £16,388.36 over 152 years. The pound had an average inflation rate of 3.29% per year between 1870 and 2022, producing a cumulative price increase of 13,656.97%.

This means that prices in 2022 are 137.57 times as high as average prices since 1870, according to the Office for National Statistics composite price index.

The inflation rate in 1870 was 0.00%. The inflation rate in 2022 was 10.70%. The 2022 inflation rate is higher compared to the average inflation rate of 6.70% per year between 2022 and 2023.


Inflation from 1870 to 2022
Cumulative price change13,656.97%
Average inflation rate3.29%
Converted amount
£120 base
£16,508.36
Price difference
£120 base
£16,388.36
CPI in 18709.500
CPI in 20221,306.912
Inflation in 18700.00%
Inflation in 202210.70%
£120 in 1870£16,508.36 in 2022

GBP inflation since 1870
Annual Rate, the Office for National Statistics CPI
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Buying power of £120 in 1870

This chart shows a calculation of buying power equivalence for £120 in 1870 (price index tracking began in 1750).

For example, if you started with £120, you would need to end with £16,508.36 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £120 is equivalent to £16,508.36 over time, that means that the "real value" of a single U.K. pound decreases over time. In other words, a pound will pay for fewer items at the store.

This effect explains how inflation erodes the value of a pound over time. By calculating the value in 1870 dollars, the chart below shows how £120 is worth less over 152 years.

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:

Pound inflation: 1870-2022
YearPound ValueInflation Rate
1870£120.00-
1871£121.261.05%
1872£126.324.17%
1873£131.374.00%
1874£126.32-3.85%
1875£123.79-2.00%
1876£123.790.00%
1877£122.53-1.02%
1878£120.00-2.06%
1879£114.95-4.21%
1880£118.743.30%
1881£117.47-1.06%
1882£118.741.08%
1883£117.47-1.06%
1884£114.95-2.15%
1885£111.16-3.30%
1886£109.89-1.14%
1887£108.63-1.15%
1888£109.891.16%
1889£111.161.15%
1890£111.160.00%
1891£112.421.14%
1892£112.420.00%
1893£111.16-1.12%
1894£109.89-1.14%
1895£108.63-1.15%
1896£107.37-1.16%
1897£109.892.35%
1898£109.890.00%
1899£111.161.15%
1900£116.214.55%
1901£116.210.00%
1902£116.210.00%
1903£117.471.09%
1904£117.470.00%
1905£117.470.00%
1906£117.470.00%
1907£118.741.08%
1908£118.740.00%
1909£120.001.06%
1910£121.261.05%
1911£121.260.00%
1912£125.053.13%
1913£123.79-1.01%
1914£123.790.00%
1915£138.9512.24%
1916£164.2118.18%
1917£205.8925.38%
1918£251.3722.09%
1919£276.6310.05%
1920£319.5815.53%
1921£291.79-8.70%
1922£251.37-13.85%
1923£236.21-6.03%
1924£234.95-0.53%
1925£234.950.00%
1926£233.68-0.54%
1927£227.37-2.70%
1928£227.370.00%
1929£224.84-1.11%
1930£218.53-2.81%
1931£209.68-4.05%
1932£204.63-2.41%
1933£199.58-2.47%
1934£199.580.00%
1935£200.840.63%
1936£202.110.63%
1937£209.683.75%
1938£212.211.20%
1939£218.532.98%
1940£255.1616.76%
1941£282.9510.89%
1942£303.167.14%
1943£313.263.33%
1944£322.112.82%
1945£330.952.75%
1946£341.053.05%
1947£365.057.04%
1948£392.847.61%
1949£404.212.89%
1950£416.843.13%
1951£454.749.09%
1952£496.429.17%
1953£511.583.05%
1954£521.681.98%
1955£544.424.36%
1956£572.215.10%
1957£592.423.53%
1958£611.373.20%
1959£613.890.41%
1960£620.211.03%
1961£641.683.46%
1962£669.474.33%
1963£682.111.89%
1964£704.843.33%
1965£737.684.66%
1966£766.743.94%
1967£786.952.64%
1968£823.584.65%
1969£867.795.37%
1970£923.376.40%
1971£1,010.539.44%
1972£1,082.537.13%
1973£1,181.059.10%
1974£1,370.5316.04%
1975£1,702.7424.24%
1976£1,984.4216.54%
1977£2,298.9515.85%
1978£2,489.688.30%
1979£2,823.1613.39%
1980£3,330.9517.99%
1981£3,726.3211.87%
1982£4,047.168.61%
1983£4,232.844.59%
1984£4,443.794.98%
1985£4,714.116.08%
1986£4,874.533.40%
1987£5,077.894.17%
1988£5,326.744.90%
1989£5,741.057.78%
1990£6,284.219.46%
1991£6,653.055.87%
1992£6,901.893.74%
1993£7,011.791.59%
1994£7,181.052.41%
1995£7,429.893.47%
1996£7,609.262.41%
1997£7,848.003.14%
1998£8,117.053.43%
1999£8,242.111.54%
2000£8,485.892.96%
2001£8,636.211.77%
2002£8,780.211.67%
2003£9,034.112.89%
2004£9,303.162.98%
2005£9,565.892.82%
2006£9,871.583.20%
2007£10,294.744.29%
2008£10,705.263.99%
2009£10,648.42-0.53%
2010£11,139.794.61%
2011£11,719.585.20%
2012£12,096.003.21%
2013£12,463.583.04%
2014£12,757.892.36%
2015£12,884.210.99%
2016£13,107.791.74%
2017£13,577.683.58%
2018£13,944.282.70%
2019£14,292.892.50%
2020£14,550.161.80%
2021£14,912.702.49%
2022£16,508.3610.70%
2023£17,614.426.70%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
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This conversion table shows various other 1870 amounts in 2022 pounds, based on the 13,656.97% change in prices:

Conversion: 1870 pounds in 2022
Initial valueEquivalent value
£1 pound in 1870£137.57 pounds in 2022
£5 pounds in 1870£687.85 pounds in 2022
£10 pounds in 1870£1,375.70 pounds in 2022
£50 pounds in 1870£6,878.48 pounds in 2022
£100 pounds in 1870£13,756.97 pounds in 2022
£500 pounds in 1870£68,784.84 pounds in 2022
£1,000 pounds in 1870£137,569.68 pounds in 2022
£5,000 pounds in 1870£687,848.39 pounds in 2022
£10,000 pounds in 1870£1,375,696.78 pounds in 2022
£50,000 pounds in 1870£6,878,483.92 pounds in 2022
£100,000 pounds in 1870£13,756,967.85 pounds in 2022
£500,000 pounds in 1870£68,784,839.24 pounds in 2022
£1,000,000 pounds in 1870£137,569,678.47 pounds in 2022

How to calculate inflation rate for £120, 1870 to 2022

Our calculations use the following inflation rate formula to calculate the change in value between 1870 and 2022:

CPI in 2022 CPI in 1870
×
1870 GBP value
=
2022 GBP value

Then plug in historical CPI values. The U.K. CPI was 9.5 in the year 1870 and 1306.91194551 in 2022:

1306.911945519.5
×
£120
=
£16,508.36

£120 in 1870 has the same "purchasing power" or "buying power" as £16,508.36 in 2022.

To get the total inflation rate for the 152 years between 1870 and 2022, we use the following formula:

CPI in 2022 - CPI in 1870CPI in 1870
×
100
=
Cumulative inflation rate (152 years)

Plugging in the values to this equation, we get:

1306.91194551 - 9.59.5
×
100
=
13,657%

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 the current year, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£120 in 1870 → 2022 | UK Inflation Calculator.” Official Inflation Data, Alioth Finance, 11 Dec. 2023, https://www.officialdata.org/uk/inflation/1870?amount=120&endYear=2022.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1870 to 2022
Cumulative price change13,656.97%
Average inflation rate3.29%
Converted amount
£120 base
£16,508.36
Price difference
£120 base
£16,388.36
CPI in 18709.500
CPI in 20221,306.912
Inflation in 18700.00%
Inflation in 202210.70%
£120 in 1870£16,508.36 in 2022