Value of 1988 Israeli New Shekels today

₪100 in 1988

₪508.88 in 2019

The inflation rate in Israel between 1988 and today has been 408.88%, which translates into a total increase of ₪408.88. This means that 100 new shekels in 1988 are equivalent to 508.88 new shekels in 2019. In other words, the purchasing power of ₪100 in 1988 equals ₪508.88 today. The average annual inflation rate has been 5.22%.

Inflation timeline in Israel (1988-2019)

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 (1988-2019) 408.63%
Total Inflation* 408.88%
Annual inflation avg. (1988-2019) 5.39%
Annual inflation avg.* 5.22%
CPI 1988 19.8
CPI 2019 100.7
CPI today* 100.75
₪1 in 1988 ₪5.09 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 31 years between 1988 and 2019 and the average inflation rate has been 5.216%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.05)31 = ₪508.63

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 19.8 and the CPI today is 100.75. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
100.7/19.8
= ₪508.63

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1988 ₪5.09 new shekels today
₪5 new shekels in 1988 ₪25.44 new shekels today
₪10 new shekels in 1988 ₪50.89 new shekels today
₪50 new shekels in 1988 ₪254.44 new shekels today
₪100 new shekels in 1988 ₪508.88 new shekels today
₪500 new shekels in 1988 ₪2,544.4 new shekels today
₪1,000 new shekels in 1988 ₪5,088.8 new shekels today
₪5,000 new shekels in 1988 ₪25,443.98 new shekels today
₪10,000 new shekels in 1988 ₪50,887.96 new shekels today
₪50,000 new shekels in 1988 ₪254,439.82 new shekels today
₪100,000 new shekels in 1988 ₪508,879.64 new shekels today
₪500,000 new shekels in 1988 ₪2,544,398.19 new shekels today
₪1,000,000 new shekels in 1988 ₪5,088,796.39 new shekels today

Value of New Shekel in time (by year)

Period Value
1988 100
1989 117.26
1990 140.61
1991 165.99
1992 195.43
1993 214.21
1994 237.56
1995 272.59
1996 293.91
1997 325.89
1998 348.73
1999 378.68
2000 383.25
2001 383.25
2002 388.83
2003 414.21
2004 406.6
2005 411.68
2006 421.32
2007 420.81
2008 435.03
2009 451.78
2010 469.04
2011 482.23
2012 492.39
2013 500
2014 509.64
2015 508.63
2016 503.55
2017 502.54
2018 504.57
2019 508.63
Today 508.88