Value of 1998 Israeli New Shekels today

₪100 in 1998

₪146.86 in 2018

The inflation rate in Israel between 1998 and today has been 46.86%, which translates into a total increase of ₪46.86. This means that 100 new shekels in 1998 are equivalent to 146.86 new shekels in 2018. In other words, the purchasing power of ₪100 in 1998 equals ₪146.86 today. The average annual inflation rate has been 1.85%.

Inflation timeline in Israel (1998-2018)

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 (1998-2018) 44.84%
Total Inflation* 46.86%
Annual inflation avg. (1998-2018) 1.87%
Annual inflation avg.* 1.85%
CPI 1998 68.97
CPI 2018 99.89
CPI today* 101.29
₪1 in 1998 ₪1.45 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 20 years between 1998 and 2018 and the average inflation rate has been 1.847%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.02)20 = ₪144.84

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 1998 was 68.97 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/68.97
= ₪144.84

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1998 ₪1.47 new shekels today
₪5 new shekels in 1998 ₪7.34 new shekels today
₪10 new shekels in 1998 ₪14.69 new shekels today
₪50 new shekels in 1998 ₪73.43 new shekels today
₪100 new shekels in 1998 ₪146.86 new shekels today
₪500 new shekels in 1998 ₪734.32 new shekels today
₪1,000 new shekels in 1998 ₪1,468.64 new shekels today
₪5,000 new shekels in 1998 ₪7,343.19 new shekels today
₪10,000 new shekels in 1998 ₪14,686.38 new shekels today
₪50,000 new shekels in 1998 ₪73,431.91 new shekels today
₪100,000 new shekels in 1998 ₪146,863.83 new shekels today
₪500,000 new shekels in 1998 ₪734,319.13 new shekels today
₪1,000,000 new shekels in 1998 ₪1,468,638.25 new shekels today

Value of New Shekel in time (by year)

Period Value
1998 100
1999 108.62
2000 110.09
2001 110.09
2002 111.62
2003 118.87
2004 116.68
2005 118.09
2006 120.91
2007 120.79
2008 124.87
2009 129.62
2010 134.7
2011 138.29
2012 141.3
2013 143.61
2014 146.25
2015 145.97
2016 144.56
2017 144.27
2018 144.84
Today 146.86