Value of 1997 Israeli New Shekels today

₪100 in 1997

₪157.13 in 2018

The inflation rate in Israel between 1997 and today has been 57.13%, which translates into a total increase of ₪57.13. This means that 100 new shekels in 1997 are equivalent to 157.13 new shekels in 2018. In other words, the purchasing power of ₪100 in 1997 equals ₪157.13 today. The average annual inflation rate has been 2.08%.

Inflation timeline in Israel (1997-2018)

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 (1997-2018) 54.97%
Total Inflation* 57.13%
Annual inflation avg. (1997-2018) 2.11%
Annual inflation avg.* 2.08%
CPI 1997 64.46
CPI 2018 99.89
CPI today* 101.29
₪1 in 1997 ₪1.55 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 21 years between 1997 and 2018 and the average inflation rate has been 2.0753%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.02)21 = ₪154.97

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 1997 was 64.46 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/64.46
= ₪154.97

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1997 ₪1.57 new shekels today
₪5 new shekels in 1997 ₪7.86 new shekels today
₪10 new shekels in 1997 ₪15.71 new shekels today
₪50 new shekels in 1997 ₪78.56 new shekels today
₪100 new shekels in 1997 ₪157.13 new shekels today
₪500 new shekels in 1997 ₪785.63 new shekels today
₪1,000 new shekels in 1997 ₪1,571.27 new shekels today
₪5,000 new shekels in 1997 ₪7,856.34 new shekels today
₪10,000 new shekels in 1997 ₪15,712.69 new shekels today
₪50,000 new shekels in 1997 ₪78,563.43 new shekels today
₪100,000 new shekels in 1997 ₪157,126.85 new shekels today
₪500,000 new shekels in 1997 ₪785,634.27 new shekels today
₪1,000,000 new shekels in 1997 ₪1,571,268.54 new shekels today

Value of New Shekel in time (by year)

Period Value
1997 100
1998 106.99
1999 116.21
2000 117.78
2001 117.78
2002 119.42
2003 127.18
2004 124.84
2005 126.35
2006 129.36
2007 129.23
2008 133.59
2009 138.67
2010 144.11
2011 147.95
2012 151.17
2013 153.64
2014 156.47
2015 156.17
2016 154.66
2017 154.35
2018 154.97
Today 157.13