Inflation calculator - Chinese Renminbi

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

¥100 in 1994

¥231.07 in 2020

The inflation rate in China between 1994 and 2020 was 131.07%, which translates into a total increase of ¥131.07. This means that 100 renminbis in 1994 are equivalent to 231.07 renminbis in 2020. In other words, the purchasing power of ¥100 in 1994 equals ¥231.07 in 2020. The average annual inflation rate between these periods was 3.27%.

Inflation timeline in China (1994 - 2020)

The following chart depicts the equivalence of chinese renminbis throughout the years due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (CNY) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1994-2020) 131.07%
Annual inflation avg. (1994-2020) 3.27%
CPI 1994 48.12
CPI 2020 111.2
¥1 in 1994 ¥2.31 in 2020

How to calculate the time value of money with inflation data?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: FV = PV (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, the future value is the amount in 2020 that equals ¥100 in 1994 in terms of purchasing power. There are 26 years between 1994 and 2020 and the average inflation rate was 3.2739%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ¥100 * (1 + 0.032739)26 = ¥231.074826 ≈ ¥231.07

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1994 was 48.12 and in 2020 was 111.2. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ¥100 *
111.2/48.12
= ¥231.07

China inflation - Conversion table

Initial Value Equivalent value
¥1 renminbi in 1994 ¥2.31 renminbis in 2020
¥5 renminbis in 1994 ¥11.55 renminbis in 2020
¥10 renminbis in 1994 ¥23.11 renminbis in 2020
¥50 renminbis in 1994 ¥115.54 renminbis in 2020
¥100 renminbis in 1994 ¥231.07 renminbis in 2020
¥500 renminbis in 1994 ¥1,155.37 renminbis in 2020
¥1,000 renminbis in 1994 ¥2,310.75 renminbis in 2020
¥5,000 renminbis in 1994 ¥11,553.74 renminbis in 2020
¥10,000 renminbis in 1994 ¥23,107.48 renminbis in 2020
¥50,000 renminbis in 1994 ¥115,537.41 renminbis in 2020
¥100,000 renminbis in 1994 ¥231,074.83 renminbis in 2020
¥500,000 renminbis in 1994 ¥1,155,374.13 renminbis in 2020
¥1,000,000 renminbis in 1994 ¥2,310,748.26 renminbis in 2020

Value of Renminbi over time (by year)

Period Value
1994 100
1995 125.5
1996 138.18
1997 147.85
1998 148.44
1999 146.95
2000 145.49
2001 147.67
2002 147.22
2003 146.59
2004 151.3
2005 154.79
2006 157.23
2007 161.65
2008 172.29
2009 174.46
2010 177.43
2011 185.54
2012 193.02
2013 197.9
2014 202.86
2015 205.72
2016 209.05
2017 213.2
2018 217.15
2019 221.31
2020 231.07