Value of 1970 Israeli New Shekels today

₪100 in 1970
₪8,028,244.87 in 2024

The inflation rate in Israel between 1970 and today has been 8,028,144.87%, which translates into a total increase of ₪8,028,144.87. This means that 100 new shekels in 1970 are equivalent to 8,028,244.87 new shekels in 2024. In other words, the purchasing power of ₪100 in 1970 equals ₪8,028,244.87 today. The average annual inflation rate between these periods has been 23.26%.

Inflation timeline in Israel (1970 - 2024)

The following chart depicts the equivalence of ₪100 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 (ILS) 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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1970-2023 7,791,812.91%
Cumulative inflation 1970-today 8,028,144.87%
Avg. Annual inflation 1970-2023 23.68%
CPI 1970 0
CPI 2023 111.25
CPI 2024-06 (latest official data) 114.44
CPI today 114.63

How to calculate today's value of money after inflation?

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:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1970 and 2023, use the corresponding CPI values:

Value2023
=Value1970 ×
CPI2023/CPI1970
=₪ 100 ×
111.25/0.001
₪7,791,912.91

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 114.63:

Valuetoday
=Value1970 ×
CPItoday/CPI1970
=₪ 100 ×
114.63/0.001
₪8,028,244.87

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 ₪100 worth today. There are 53 years between 1970 and 2023 and the average inflation rate was 23.6788%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.236788)53
₪7,791,912.91

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1970 ₪77,919.13 new shekels in 2023
₪5 new shekels in 1970 ₪389,595.65 new shekels in 2023
₪10 new shekels in 1970 ₪779,191.29 new shekels in 2023
₪50 new shekels in 1970 ₪3,895,956.45 new shekels in 2023
₪100 new shekels in 1970 ₪7,791,912.91 new shekels in 2023
₪500 new shekels in 1970 ₪38,959,564.53 new shekels in 2023
₪1,000 new shekels in 1970 ₪77,919,129.07 new shekels in 2023
₪5,000 new shekels in 1970 ₪389,595,645.35 new shekels in 2023
₪10,000 new shekels in 1970 ₪779,191,290.69 new shekels in 2023
₪50,000 new shekels in 1970 ₪3,895,956,453.47 new shekels in 2023
₪100,000 new shekels in 1970 ₪7,791,912,906.94 new shekels in 2023
₪500,000 new shekels in 1970 ₪38,959,564,534.68 new shekels in 2023
₪1,000,000 new shekels in 1970 ₪77,919,129,069.36 new shekels in 2023
Cumulative inflation From 1970 8,028,144.87%
Avg. annual inflation From 1970 23.26%
CPI 1970 0.001
CPI today 114.63

Value of New Shekel over time (by year)

Period Value
1970 100
1971 111.97
1972 126.4
1973 151.72
1974 211.92
1975 295.22
1976 387.65
1977 521.84
1978 785.64
1979 1,400.87
1980 3,236.36
1981 7,016.43
1982 15,461.71
1983 38,028.3
1984 179,955.89
1985 737,696.16
1986 1,090,968.24
1987 1,299,067.94
1988 1,512,152.91
1989 1,819,941.22
1990 2,132,714.81
1991 2,540,815.07
1992 2,846,112.15
1993 3,157,015.73
1994 3,544,555.77
1995 3,896,581.19
1996 4,341,442.04
1997 4,730,850.69
1998 4,990,664
1999 5,249,231.34
2000 5,303,437.58
2001 5,364,497
2002 5,674,154.61
2003 5,714,030.48
2004 5,692,223.59
2005 5,766,990.05
2006 5,885,993.62
2007 5,912,785.07
2008 6,181,944.19
2009 6,389,421.25
2010 6,561,384.39
2011 6,790,045.01
2012 6,904,064
2013 7,012,472.28
2014 7,046,118.31
2015 7,003,752.61
2016 6,965,123.41
2017 6,983,191.69
2018 7,038,645.31
2019 7,098,457.35
2020 7,054,844.99
2021 7,161,386.07
2022 7,476,029.66
2023 7,791,912.91
2024-06 8,014,968.42
Today 8,028,244.87

All available years

Today's value of israeli new shekels by year:

1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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