Liz has been working on some material for Acts of Collective Worship (ask her!) this evening and came across the fact that Howard Carter had spent around £1m looking for Tutankhamun’s tomb before his eventual success in 1922.
£1m sounds a lot, but what would £1m 1922 pounds be worth today? Easy enough, in principle, to find out…use RPI figures, average earnings, GDP deflators. But hey, that’s hard work. I came across a very useful site Measuring Worth which does it all for you.
The answers (yes, there are 5)
|£40,687,624.86||using the retail price index|
|£43,569,042.90||using the GDP deflator|
|£179,287,189.73||using the average earnings|
|£234,149,663.45||using the per capita GDP|
|£323,693,859.86||using the share of GDP|
Hey, you may find some use for this one day!