Value of 1988 Israeli New Shekels today

₪100 in 1988
₪524.92 in 2024

The inflation rate in Israel between 1988 and today has been 424.92%, which translates into a total increase of ₪424.92. This means that 100 new shekels in 1988 are equivalent to 524.92 new shekels in 2024. In other words, the purchasing power of ₪100 in 1988 equals ₪524.92 today. The average annual inflation rate between these periods has been 4.71%.

Inflation timeline in Israel (1988 - 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 1988-2023 415.29%
Cumulative inflation 1988-today 424.92%
Avg. Annual inflation 1988-2023 4.8%
CPI 1988 21.59
CPI 2023 111.25
CPI 2024-03 (latest official data) 113.16
CPI today 113.33

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 1988 and 2023, use the corresponding CPI values:

Value2023
=Value1988 ×
CPI2023/CPI1988
=₪ 100 ×
111.25/21.59
₪515.29

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 113.33:

Valuetoday
=Value1988 ×
CPItoday/CPI1988
=₪ 100 ×
113.33/21.59
₪524.92

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 35 years between 1988 and 2023 and the average inflation rate was 4.7959%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.047959)35
₪515.29

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1988 ₪5.15 new shekels in 2023
₪5 new shekels in 1988 ₪25.76 new shekels in 2023
₪10 new shekels in 1988 ₪51.53 new shekels in 2023
₪50 new shekels in 1988 ₪257.64 new shekels in 2023
₪100 new shekels in 1988 ₪515.29 new shekels in 2023
₪500 new shekels in 1988 ₪2,576.43 new shekels in 2023
₪1,000 new shekels in 1988 ₪5,152.86 new shekels in 2023
₪5,000 new shekels in 1988 ₪25,764.3 new shekels in 2023
₪10,000 new shekels in 1988 ₪51,528.6 new shekels in 2023
₪50,000 new shekels in 1988 ₪257,643.02 new shekels in 2023
₪100,000 new shekels in 1988 ₪515,286.04 new shekels in 2023
₪500,000 new shekels in 1988 ₪2,576,430.22 new shekels in 2023
₪1,000,000 new shekels in 1988 ₪5,152,860.43 new shekels in 2023
Cumulative inflation From 1988 424.92%
Avg. annual inflation From 1988 4.71%
CPI 1988 21.59
CPI today 113.33

Value of New Shekel over time (by year)

Period Value
1988 100
1989 120.35
1990 141.04
1991 168.03
1992 188.22
1993 208.78
1994 234.4
1995 257.68
1996 287.1
1997 312.86
1998 330.04
1999 347.14
2000 350.72
2001 354.76
2002 375.24
2003 377.87
2004 376.43
2005 381.38
2006 389.25
2007 391.02
2008 408.82
2009 422.54
2010 433.91
2011 449.03
2012 456.57
2013 463.74
2014 465.97
2015 463.16
2016 460.61
2017 461.8
2018 465.47
2019 469.43
2020 466.54
2021 473.59
2022 494.4
2023 515.29
2024-03 524.1
Today 524.92

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 | 2022 | 2023 |

Other currencies: