£40,000 in 2023 → £73,783.56 in 2053

Buying power of £40,000 in 2053

This chart shows a calculation of buying power equivalence for £40,000 in 2023 (price index tracking began in 1750).

For example, if you started with £40,000, you would need to end with £73,783.56 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When £40,000 is equivalent to £73,783.56 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 2023 dollars, the chart below shows how £40,000 is worth less over 30 years.

This table shows the results of the inflation prediction, with base values from the Office for National Statistics:

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.

» Read more about inflation and investment.