Value of 1979 Israeli New Shekels today

₪100 in 1979
₪566,494.87 in 2024

The inflation rate in Israel between 1979 and today has been 566,394.87%, which translates into a total increase of ₪566,394.87. This means that 100 new shekels in 1979 are equivalent to 566,494.87 new shekels in 2024. In other words, the purchasing power of ₪100 in 1979 equals ₪566,494.87 today. The average annual inflation rate between these periods has been 21.17%.

Inflation timeline in Israel (1979 - 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 1979-2023 556,119.72%
Cumulative inflation 1979-today 566,394.87%
Avg. Annual inflation 1979-2023 21.65%
CPI 1979 0.02
CPI 2023 111.25
CPI 2024-03 (latest official data) 113.16
CPI today 113.31

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 1979 and 2023, use the corresponding CPI values:

Value2023
=Value1979 ×
CPI2023/CPI1979
=₪ 100 ×
111.25/0.02
₪556,219.72

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 113.31:

Valuetoday
=Value1979 ×
CPItoday/CPI1979
=₪ 100 ×
113.31/0.02
₪566,494.87

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 44 years between 1979 and 2023 and the average inflation rate was 21.652%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.21652)44
₪556,219.72

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1979 ₪5,562.2 new shekels in 2023
₪5 new shekels in 1979 ₪27,810.99 new shekels in 2023
₪10 new shekels in 1979 ₪55,621.97 new shekels in 2023
₪50 new shekels in 1979 ₪278,109.86 new shekels in 2023
₪100 new shekels in 1979 ₪556,219.72 new shekels in 2023
₪500 new shekels in 1979 ₪2,781,098.61 new shekels in 2023
₪1,000 new shekels in 1979 ₪5,562,197.21 new shekels in 2023
₪5,000 new shekels in 1979 ₪27,810,986.07 new shekels in 2023
₪10,000 new shekels in 1979 ₪55,621,972.13 new shekels in 2023
₪50,000 new shekels in 1979 ₪278,109,860.66 new shekels in 2023
₪100,000 new shekels in 1979 ₪556,219,721.32 new shekels in 2023
₪500,000 new shekels in 1979 ₪2,781,098,606.62 new shekels in 2023
₪1,000,000 new shekels in 1979 ₪5,562,197,213.24 new shekels in 2023
Cumulative inflation From 1979 566,394.87%
Avg. annual inflation From 1979 21.17%
CPI 1979 0.02
CPI today 113.31

Value of New Shekel over time (by year)

Period Value
1979 100
1980 231.03
1981 500.86
1982 1,103.72
1983 2,714.62
1984 12,846.01
1985 52,659.87
1986 77,877.93
1987 92,732.97
1988 107,943.87
1989 129,915.11
1990 152,242.21
1991 181,374.13
1992 203,167.53
1993 225,361.14
1994 253,025.39
1995 278,154.46
1996 309,910.51
1997 337,708.14
1998 356,254.72
1999 374,712.35
2000 378,581.82
2001 382,940.5
2002 405,045.17
2003 407,891.68
2004 406,335.01
2005 411,672.16
2006 420,167.14
2007 422,079.62
2008 441,293.34
2009 456,103.93
2010 468,379.39
2011 484,702.15
2012 492,841.31
2013 500,579.95
2014 502,981.75
2015 499,957.5
2016 497,199.99
2017 498,489.78
2018 502,448.29
2019 506,717.93
2020 503,604.69
2021 511,210.05
2022 533,670.64
2023 556,219.72
2024-03 565,737.91
Today 566,494.87

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 | 2022 | 2023 |

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