Value of 1988 Israeli New Shekels today

₪100 in 1988

₪510.31 in 2018

The inflation rate in Israel between 1988 and today has been 410.31%, which translates into a total increase of ₪410.31. This means that 100 new shekels in 1988 are equivalent to 510.31 new shekels in 2018. In other words, the purchasing power of ₪100 in 1988 equals ₪510.31 today. The average annual inflation rate has been 5.4%.

Inflation timeline in Israel (1988-2018)

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 (1988-2018) 403.29%
Total Inflation* 410.31%
Annual inflation avg. (1988-2018) 5.53%
Annual inflation avg.* 5.4%
CPI 1988 19.85
CPI 2018 99.89
CPI today* 101.29
₪1 in 1988 ₪5.03 in 2018

* 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 30 years between 1988 and 2018 and the average inflation rate has been 5.3982%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.05)30 = ₪503.29

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 1988 was 19.85 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/19.85
= ₪503.29

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1988 ₪5.1 new shekels today
₪5 new shekels in 1988 ₪25.52 new shekels today
₪10 new shekels in 1988 ₪51.03 new shekels today
₪50 new shekels in 1988 ₪255.16 new shekels today
₪100 new shekels in 1988 ₪510.31 new shekels today
₪500 new shekels in 1988 ₪2,551.56 new shekels today
₪1,000 new shekels in 1988 ₪5,103.11 new shekels today
₪5,000 new shekels in 1988 ₪25,515.56 new shekels today
₪10,000 new shekels in 1988 ₪51,031.12 new shekels today
₪50,000 new shekels in 1988 ₪255,155.6 new shekels today
₪100,000 new shekels in 1988 ₪510,311.21 new shekels today
₪500,000 new shekels in 1988 ₪2,551,556.03 new shekels today
₪1,000,000 new shekels in 1988 ₪5,103,112.06 new shekels today

Value of New Shekel in time (by year)

Period Value
1988 100
1989 116.42
1990 140.51
1991 165.26
1992 195.07
1993 213.35
1994 237.35
1995 271.67
1996 293.68
1997 324.78
1998 347.47
1999 377.43
2000 382.52
2001 382.52
2002 387.85
2003 413.05
2004 405.45
2005 410.34
2006 420.13
2007 419.72
2008 433.87
2009 450.38
2010 468.05
2011 480.51
2012 490.98
2013 499
2014 508.19
2015 507.19
2016 502.3
2017 501.28
2018 503.29
Today 510.31