Value of 1997 Israeli New Shekels today

₪100 in 1997
₪173 in 2024

The inflation rate in Israel between 1997 and today has been 73%, which translates into a total increase of ₪73. This means that 100 new shekels in 1997 are equivalent to 173 new shekels in 2024. In other words, the purchasing power of ₪100 in 1997 equals ₪173 today. The average annual inflation rate between these periods has been 2.05%.

Inflation timeline in Israel (1997 - 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 1997-2023 64.7%
Cumulative inflation 1997-today 73%
Avg. Annual inflation 1997-2023 1.94%
CPI 1997 67.55
CPI 2023 111.25
CPI 2024-10 (latest official data) 116.47
CPI today 116.86

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 1997 and 2023, use the corresponding CPI values:

Value2023
=Value1997 ×
CPI2023/CPI1997
=₪ 100 ×
111.25/67.55
₪164.7

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.86:

Valuetoday
=Value1997 ×
CPItoday/CPI1997
=₪ 100 ×
116.86/67.55
₪173

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 26 years between 1997 and 2023 and the average inflation rate was 1.9377%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.019377)26
₪164.7

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1997 ₪1.65 new shekels in 2023
₪5 new shekels in 1997 ₪8.24 new shekels in 2023
₪10 new shekels in 1997 ₪16.47 new shekels in 2023
₪50 new shekels in 1997 ₪82.35 new shekels in 2023
₪100 new shekels in 1997 ₪164.7 new shekels in 2023
₪500 new shekels in 1997 ₪823.52 new shekels in 2023
₪1,000 new shekels in 1997 ₪1,647.04 new shekels in 2023
₪5,000 new shekels in 1997 ₪8,235.21 new shekels in 2023
₪10,000 new shekels in 1997 ₪16,470.43 new shekels in 2023
₪50,000 new shekels in 1997 ₪82,352.13 new shekels in 2023
₪100,000 new shekels in 1997 ₪164,704.27 new shekels in 2023
₪500,000 new shekels in 1997 ₪823,521.33 new shekels in 2023
₪1,000,000 new shekels in 1997 ₪1,647,042.66 new shekels in 2023
Cumulative inflation From 1997 73%
Avg. annual inflation From 1997 2.05%
CPI 1997 67.55
CPI today 116.86

Value of New Shekel over time (by year)

Period Value
1997 100
1998 105.49
1999 110.96
2000 112.1
2001 113.39
2002 119.94
2003 120.78
2004 120.32
2005 121.9
2006 124.42
2007 124.98
2008 130.67
2009 135.06
2010 138.69
2011 143.53
2012 145.94
2013 148.23
2014 148.94
2015 148.04
2016 147.23
2017 147.61
2018 148.78
2019 150.05
2020 149.12
2021 151.38
2022 158.03
2023 164.7
2024-10 172.42
Today 173

All available years

Today's value of israeli new shekels by year:

1970 | 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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