£5,000 in 1970
Life in 1970
In 1970, United Kingdom's average annual wage was approximately £1,188. This means £5000 represented roughly 218.9 weeks of average earnings — a luxury purchase. A loaf of bread cost approximately £0.1 and monthly rent was around £10.
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These calculations are estimates based on United Kingdom's Consumer Price Index (CPI) data from Bank of England Millennium Dataset; ONS CPI/RPI series; Clark (2005) cost-of-living index. Pre-1914 uses Bank of England 'A Millennium of Macroeconomic Data' (Broadberry et al.). Napoleonic inflation 1800–1815 and Victorian deflation 1815–1896 reflected. Results may differ from other inflation calculators. See our Methodology and Sources for full details.