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Value of money drops by 67% over 30 years

By Vicky Shaw

The value of money has plummeted by two thirds (67%) over the last 30 years as the cost of everyday goods has rocketed, research has found.

A three-fold increase in retail prices means that someone would need £299 today to have the equivalent purchasing power of £100 back in 1982, when Prince William was born and Bucks Fizz had a number one single.

A study from Lloyds TSB Private Banking found that if inflation rises in line with government targets, someone will need to have £229 in their back pocket in 2042 to have the same spending power as £100 now.

Its analysis found that a loaf of bread has increased more than three-fold in the last three decades, from 37p in 1982 to £1.24 by 2012.

Average house prices have soared by six times over the period, from £45,211 to £273,700.

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