Value of money declines
25 April 2011
The value of money has fallen by 94 per cent over the last 50 years, according to new research from BM Savings using data from the Office for National Statistics (ONS). An 18 fold increase in retail prices means that someone today would need £1,796 to have the equivalent purchasing power of £100 in 1960. Conversely, £5.57 in 1960 would provide the same spending power as £100 today.