Pint to cost £8 by 2060

A pint of beer could cost £8 by 2060, according to a new report.

Data from the Office for National Statistics suggests money has fallen in value by 94 per cent since 1960. An 18-fold increase in retail prices means that £1,796 has the equivalent purchasing power of £100 in 1960.

The next 50 years could see the value of cash decline 63 per cent.