₪100 in 1977
₪1,555,950.67 in 2021
The inflation rate in Israel between 1977 and today has been 1,555,850.67%, which translates into a total increase of ₪1,555,850.67. This means that 100 new shekels in 1977 are equivalent to 1,555,950.67 new shekels in 2021. In other words, the purchasing power of ₪100 in 1977 equals ₪1,555,950.67 today. The average annual inflation rate has been 23.92%.
The following chart depicts the equivalence of ₪100 throughout the years due to 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 obtained by estimating figures from recent trends.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Total Inflation (1977-2021) | 1,556,451.18% |
| Total Inflation* | 1,555,850.67% |
| Annual inflation avg. (1977-2021) | 24.53% |
| Annual inflation avg.* | 23.92% |
| CPI 1977 | 0.01 |
| CPI 2021 | 100.6 |
| CPI today* | 100.56 |
| ₪1 in 1977 | ₪15,565.51 in 2021 |
* Values extrapolated from the last official data to obtain today's values.
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.
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:
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 44 years between 1977 and 2021 and the average inflation rate has been 23.924%. Therefore, we can resolve the formula like this:
FV = PV (1 + i)n = ₪100 * (1 + 0.24)44 = ₪1,556,551.18
When the CPI for both start and end years is known, the following formula can be used:
In this case, the CPI in 1977 was 0.01 and the CPI today is 100.56. Therefore,
| Initial Value | Equivalent value | |
|---|---|---|
| ₪1 new shekel in 1977 | ₪15,559.51 new shekels today | |
| ₪5 new shekels in 1977 | ₪77,797.53 new shekels today | |
| ₪10 new shekels in 1977 | ₪155,595.07 new shekels today | |
| ₪50 new shekels in 1977 | ₪777,975.33 new shekels today | |
| ₪100 new shekels in 1977 | ₪1,555,950.67 new shekels today | |
| ₪500 new shekels in 1977 | ₪7,779,753.34 new shekels today | |
| ₪1,000 new shekels in 1977 | ₪15,559,506.69 new shekels today | |
| ₪5,000 new shekels in 1977 | ₪77,797,533.44 new shekels today | |
| ₪10,000 new shekels in 1977 | ₪155,595,066.89 new shekels today | |
| ₪50,000 new shekels in 1977 | ₪777,975,334.44 new shekels today | |
| ₪100,000 new shekels in 1977 | ₪1,555,950,668.89 new shekels today | |
| ₪500,000 new shekels in 1977 | ₪7,779,753,344.44 new shekels today | |
| ₪1,000,000 new shekels in 1977 | ₪15,559,506,688.87 new shekels today |
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