umm.. I could tell you how much $10 in american money is worth nowadays.. Or, I can even translate it into american dollars for you... But, you need to know the infaltion between these time periods....
So, during these years, if inflation was 400%....
Times your 10 by 400%... So, it was worth 40 pounds in 1978... And, if the money is still spendable.. its worth only 10 pounds today...Unless, its special and a collectable...Then the 10 pounds would have a premium on the top...
It would be worth 30 years more value. so based on a mars bar costing 6 p in 1978 and today costing 48p (average) your £10 would be approx £80 in todays climate
It's NOT relative,as some things that cost peanuts then are Sooo much more expensive today than other consumer items!! eg Electrical appliances/Hi-Fi equipment....stronger competition makes for more competitive prices....right? But as CASH I think the 2.6 Mil.stolen in great train robbery would be worth around 46 Mil.!!!! Awesome...it was never recovered;)
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Still ten pound. It just doesn't buy you as much now as it did then!
£10
umm.. I could tell you how much $10 in american money is worth nowadays.. Or, I can even translate it into american dollars for you... But, you need to know the infaltion between these time periods....
So, during these years, if inflation was 400%....
Times your 10 by 400%... So, it was worth 40 pounds in 1978... And, if the money is still spendable.. its worth only 10 pounds today...Unless, its special and a collectable...Then the 10 pounds would have a premium on the top...
In October of 1978, it was almost exactly two American dollars for each British Pound:
http://www.economagic.com/em-cgi/data.exe/fedstl/e...
So if you plug in $10 at this site:
http://woodrow.mpls.frb.fed.us/research/data/us/ca...
what cost $10 in 1978 would be $31.64 in 2007. Divide by two to exchange back to British pounds, which would be 15.82
So whatever cost 10 pounds in 1978 would cost about 15 pounds and 82 pence today.
It would be worth 30 years more value. so based on a mars bar costing 6 p in 1978 and today costing 48p (average) your £10 would be approx £80 in todays climate
It's NOT relative,as some things that cost peanuts then are Sooo much more expensive today than other consumer items!! eg Electrical appliances/Hi-Fi equipment....stronger competition makes for more competitive prices....right? But as CASH I think the 2.6 Mil.stolen in great train robbery would be worth around 46 Mil.!!!! Awesome...it was never recovered;)
in 1978 £10 would buy you 30 packs of cigarettes in the uk
in 2007 £10 will buy you 2 packs of cigarettes
increased x 15
1978 wages----£45 p/w
2007 wages----£360p/w
increased x 8
are cigs too dear or wages too low??
To calculate this you need to compare the figures on the RPI (Retail Price Index).
This will give you a figure of about £41.60
Here are the figures to use: