IDR Inflation Calculator - Indonesian Rupiah (1968-2024)

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.

Rp100 in 1968

Rp18,994.06 in 2023

The inflation rate in Indonesia between 1968 and 2023 was 18,894.06%, which translates into a total increase of Rp18,894.06. This means that 100 rupiahs in 1968 are equivalent to 18,994.06 rupiahs in 2023. In other words, the purchasing power of Rp100 in 1968 equals Rp18,994.06 in 2023. The average annual inflation rate between these periods was 10.01%.

Inflation timeline in Indonesia (1968 - 2023)

The following chart depicts the equivalence of Rp100 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 (IDR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation from 1968 to 2023	18,894.06%
Avg. Annual inflation from 1968 to 2023	10.01%
CPI 1968	0.67
CPI 2023	127.78

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 Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1968 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₆₈ ×

CPI₂₀₂₃/CPI₁₉₆₈

=Rp 100 ×

127.78/0.67

≈Rp18,994.06

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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, it indicates how much are Rp100 worth today. There are 55 years between 1968 and 2023 and the average inflation rate was 10.0093%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=Rp100 × (1 + 0.100093)⁵⁵