Inflation

Monday, May 16, 2011

Posted by Mark Paine, Managing Director of Meyado Singapore

''This was a fun way to spend time on my way home last night.

In 1978 I used to get 10p per day to spend on my holiday - I would spend this money on a Commando comic which I would buy as soon as the corner shop opened and would have read by about 10am. My brother would also get 10p but wouldn't spend it and then read my comic for free once I'd finished with it. He'd save his 10p's and deposit the pound or so he'd accumulate in the Anglia building society when we got back home. I still have my Commando comics.

Who was better off and by how much?

10p in 1978 equates to 46p in today's terms.
Had 10p been invested in a deposit account in 1978 it would be worth about 117p
Commando comics are selling on Ebay now for between 65p and 300p

I'd say it's a close run thing.

These are fun sites http://www.hbosplc.com/economy/economicfactbook.asp for deposit rates http://www.thisismoney.co.uk/historic-inflation-calculator for inflation.''