Value of 1978 Israeli New Shekels today

₪100 in 1978

₪1,093,619.82 in 2019

The inflation rate in Israel between 1978 and today has been 1,093,519.82%, which translates into a total increase of ₪1,093,519.82. This means that 100 new shekels in 1978 are equivalent to 1,093,619.82 new shekels in 2019. In other words, the purchasing power of ₪100 in 1978 equals ₪1,093,619.82 today. The average annual inflation rate has been 24.79%.

Inflation timeline in Israel (1978-2019)

The following chart ilustrates the equivalence of ₪100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1978-2019) 1,092,982.21%
Total Inflation* 1,093,519.82%
Annual inflation avg. (1978-2019) 25.46%
Annual inflation avg.* 24.79%
CPI 1978 0.01
CPI 2019 100.7
CPI today* 100.75
₪1 in 1978 ₪10,930.82 in 2019

* Values extrapolated from the last official data to obtain today's values.

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

Using the compound interest formula

Given that money changes in 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, it indicates how much are ₪100 worth today. There are 41 years between 1978 and 2019 and the average inflation rate has been 24.7853%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.25)41 = ₪1,093,082.21

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 1978 was 0.01 and the CPI today is 100.75. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
100.7/0.01
= ₪1,093,082.21

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1978 ₪10,936.2 new shekels today
₪5 new shekels in 1978 ₪54,680.99 new shekels today
₪10 new shekels in 1978 ₪109,361.98 new shekels today
₪50 new shekels in 1978 ₪546,809.91 new shekels today
₪100 new shekels in 1978 ₪1,093,619.82 new shekels today
₪500 new shekels in 1978 ₪5,468,099.11 new shekels today
₪1,000 new shekels in 1978 ₪10,936,198.21 new shekels today
₪5,000 new shekels in 1978 ₪54,680,991.06 new shekels today
₪10,000 new shekels in 1978 ₪109,361,982.12 new shekels today
₪50,000 new shekels in 1978 ₪546,809,910.62 new shekels today
₪100,000 new shekels in 1978 ₪1,093,619,821.23 new shekels today
₪500,000 new shekels in 1978 ₪5,468,099,106.15 new shekels today
₪1,000,000 new shekels in 1978 ₪10,936,198,212.31 new shekels today

Value of New Shekel in time (by year)

Period Value
1978 100
1979 148.14
1980 313.15
1981 729.47
1982 1,469.79
1983 3,402.61
1984 9,891.11
1985 53,894.49
1986 155,998.79
1987 185,453.13
1988 214,907.36
1989 251,998.03
1990 302,179.51
1991 356,724.48
1992 419,996.76
1993 460,360.05
1994 510,541.53
1995 585,813.63
1996 631,631.51
1997 700,358.15
1998 749,448.76
1999 813,811.91
2000 823,629.88
2001 823,629.88
2002 835,629.81
2003 890,174.89
2004 873,811.36
2005 884,720.41
2006 905,447.44
2007 904,356.57
2008 934,901.78
2009 970,901.58
2010 1,007,992.14
2011 1,036,355.61
2012 1,058,173.51
2013 1,074,537.04
2014 1,095,263.96
2015 1,093,082.21
2016 1,082,173.37
2017 1,079,991.62
2018 1,084,355.23
2019 1,093,082.21
Today 1,093,619.82