How much was 120 pounds in 1978 worth today?

To determine the value of £120 in 1978 in today's terms, we need to account for inflation. Using historical inflation data, £120 in 1978 is approximately equivalent to around £500-£600 today, depending on the specific inflation rates used. This reflects the significant increase in prices over the past several decades. For an exact figure, a reliable inflation calculator or historical data source should be consulted.