Value of 1978 Israeli New Shekels today

₪100 in 1978
₪961,004.92 in 2022

The inflation rate in Israel between 1978 and today has been 960,904.92%, which translates into a total increase of ₪960,904.92. This means that 100 new shekels in 1978 are equivalent to 961,004.92 new shekels in 2022. In other words, the purchasing power of ₪100 in 1978 equals ₪961,004.92 today. The average annual inflation rate between these periods has been 23.17%.

Inflation timeline in Israel (1978 - 2022)

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 1978-2021 909,666.27%
Cumulative inflation 1978-today 960,904.92%
Avg. Annual inflation 1978-2021 23.61%
CPI 1978 0.01
CPI 2021 102.27
CPI 2022-08 (latest official data) 107.66
CPI today 108.03

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 2021, use the corresponding CPI values:

Value2021
=Value1978 ×
CPI2021/CPI1978
=₪ 100 ×
102.27/0.01
₪909,766.27

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 108.03:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=₪ 100 ×
108.03/0.01
₪961,004.92

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 43 years between 1978 and 2021 and the average inflation rate was 23.6141%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₪100 × (1 + 0.236141)43
₪909,766.27

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1978 ₪9,097.66 new shekels in 2021
₪5 new shekels in 1978 ₪45,488.31 new shekels in 2021
₪10 new shekels in 1978 ₪90,976.63 new shekels in 2021
₪50 new shekels in 1978 ₪454,883.13 new shekels in 2021
₪100 new shekels in 1978 ₪909,766.27 new shekels in 2021
₪500 new shekels in 1978 ₪4,548,831.35 new shekels in 2021
₪1,000 new shekels in 1978 ₪9,097,662.69 new shekels in 2021
₪5,000 new shekels in 1978 ₪45,488,313.46 new shekels in 2021
₪10,000 new shekels in 1978 ₪90,976,626.93 new shekels in 2021
₪50,000 new shekels in 1978 ₪454,883,134.63 new shekels in 2021
₪100,000 new shekels in 1978 ₪909,766,269.26 new shekels in 2021
₪500,000 new shekels in 1978 ₪4,548,831,346.29 new shekels in 2021
₪1,000,000 new shekels in 1978 ₪9,097,662,692.57 new shekels in 2021
Cumulative inflation From 1978 960,904.92%
Avg. annual inflation From 1978 23.17%
CPI 1978 0.01
CPI today 108.03

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 93,637.03
1986 138,550
1987 165,004.53
1988 192,131.58
1989 231,140.79
1990 271,046.8
1991 322,610.7
1992 361,395.73
1993 401,077.56
1994 450,324.79
1995 495,088.22
1996 551,509.63
1997 600,906.31
1998 633,937.13
1999 666,743.76
2000 673,768.41
2001 681,540.31
2002 720,773.78
2003 726,004.84
2004 723,015.64
2005 732,506.4
2006 747,601.93
2007 751,039.49
2008 785,266
2009 811,496.34
2010 833,541.79
2011 862,537.16
2012 877,109.53
2013 890,934.55
2014 895,268.63
2015 889,589.49
2016 884,731.98
2017 886,899.19
2018 894,147.75
2019 901,695.91
2020 896,390.4
2021 909,766.27
2022-08 957,743.61
Today 961,004.92

All available years

Today's value of israeli new shekels by year:

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 |

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