Question:

£1.00 in 1980; what is it worth today?

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We spent £2000.00 on our wedding in 1980 and wonder what the equivalent cost would be today

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  1. Not as simple as the previous answer, it's a case of just finding out inflation (3.09) and multiplying. By this definition, your wedding would have cost around £6000.

    There are micro and macro economic changes to take into to consideration. A bundle of goods (as we say in economics) would have cost 'more' in 1980, not because of the value of the pound, but for the cost to buy the good.

    there are many measures of determining the 'value' of a £1 between years:

    Consumer Price Index

    GDP deflator

    consumer bundle

    unskilled wage

    nominal GDP per capita

    relative share of GDP

    Take your pick.

    My estimate would be around £12-15000.


  2. last i heard its 3 times as much

  3. About three times as much

  4. £1.00 in 1980 should be £3.09 today.

  5. You would probably spend £20,000 on a wedding today, so a £1 has ariund 10-20 times more value than 20-odd years ago.

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