Value of 1978 Israeli New Shekels today

₪100 in 1978
₪1,022,199.22 in 2024

The inflation rate in Israel between 1978 and today has been 1,022,099.22%, which translates into a total increase of ₪1,022,099.22. This means that 100 new shekels in 1978 are equivalent to 1,022,199.22 new shekels in 2024. In other words, the purchasing power of ₪100 in 1978 equals ₪1,022,199.22 today. The average annual inflation rate between these periods has been 22.23%.

Inflation timeline in Israel (1978 - 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 1978-2023 991,695.76%
Cumulative inflation 1978-today 1,022,099.22%
Avg. Annual inflation 1978-2023 22.69%
CPI 1978 0.01
CPI 2023 111.25
CPI 2024-06 (latest official data) 114.44
CPI today 114.66

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 1978 and 2023, use the corresponding CPI values:

Value2023
=Value1978 ×
CPI2023/CPI1978
=₪ 100 ×
111.25/0.01
₪991,795.76

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 114.66:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=₪ 100 ×
114.66/0.01
₪1,022,199.22

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 45 years between 1978 and 2023 and the average inflation rate was 22.6901%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.226901)45
₪991,795.76

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1978 ₪9,917.96 new shekels in 2023
₪5 new shekels in 1978 ₪49,589.79 new shekels in 2023
₪10 new shekels in 1978 ₪99,179.58 new shekels in 2023
₪50 new shekels in 1978 ₪495,897.88 new shekels in 2023
₪100 new shekels in 1978 ₪991,795.76 new shekels in 2023
₪500 new shekels in 1978 ₪4,958,978.8 new shekels in 2023
₪1,000 new shekels in 1978 ₪9,917,957.6 new shekels in 2023
₪5,000 new shekels in 1978 ₪49,589,787.98 new shekels in 2023
₪10,000 new shekels in 1978 ₪99,179,575.96 new shekels in 2023
₪50,000 new shekels in 1978 ₪495,897,879.81 new shekels in 2023
₪100,000 new shekels in 1978 ₪991,795,759.61 new shekels in 2023
₪500,000 new shekels in 1978 ₪4,958,978,798.06 new shekels in 2023
₪1,000,000 new shekels in 1978 ₪9,917,957,596.12 new shekels in 2023
Cumulative inflation From 1978 1,022,099.22%
Avg. annual inflation From 1978 22.23%
CPI 1978 0.01
CPI today 114.66

Value of New Shekel over time (by year)

Period Value
1978 100
1979 178.31
1980 411.94
1981 893.09
1982 1,968.05
1983 4,840.44
1984 22,905.73
1985 93,897.86
1986 138,864.19
1987 165,352.22
1988 192,474.8
1989 231,651.72
1990 271,463.19
1991 323,408.34
1992 362,268.16
1993 401,841.61
1994 451,169.75
1995 495,977.4
1996 552,601.63
1997 602,167.62
1998 635,238.03
1999 668,149.84
2000 675,049.5
2001 682,821.46
2002 722,236.32
2003 727,311.93
2004 724,536.23
2005 734,052.9
2006 749,200.3
2007 752,610.46
2008 786,870.45
2009 813,279.23
2010 835,167.6
2011 864,272.73
2012 878,785.67
2013 892,584.45
2014 896,867.09
2015 891,474.56
2016 886,557.63
2017 888,857.46
2018 895,915.89
2019 903,529.08
2020 897,977.87
2021 911,538.98
2022 951,588.47
2023 991,795.76
2024-06 1,020,187.44
Today 1,022,199.22

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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