Value of 1998 Israeli New Shekels today

₪100 in 1998
₪152.68 in 2022

The inflation rate in Israel between 1998 and today has been 52.68%, which translates into a total increase of ₪52.68. This means that 100 new shekels in 1998 are equivalent to 152.68 new shekels in 2022. In other words, the purchasing power of ₪100 in 1998 equals ₪152.68 today. The average annual inflation rate between these periods has been 1.78%.

Inflation timeline in Israel (1998 - 2022)

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 1998-2021 43.51%
Cumulative inflation 1998-today 52.68%
Avg. Annual inflation 1998-2021 1.58%
CPI 1998 71.26
CPI 2021 102.27
CPI 2022-10 (latest official data) 108.47
CPI today 108.8

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=₪ 100 ×
102.27/71.26
₪143.51

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 108.8:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=₪ 100 ×
108.8/71.26
₪152.68

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 23 years between 1998 and 2021 and the average inflation rate was 1.583%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=₪100 × (1 + 0.01583)23
₪143.51

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 1998 ₪1.44 new shekels in 2021
₪5 new shekels in 1998 ₪7.18 new shekels in 2021
₪10 new shekels in 1998 ₪14.35 new shekels in 2021
₪50 new shekels in 1998 ₪71.76 new shekels in 2021
₪100 new shekels in 1998 ₪143.51 new shekels in 2021
₪500 new shekels in 1998 ₪717.55 new shekels in 2021
₪1,000 new shekels in 1998 ₪1,435.1 new shekels in 2021
₪5,000 new shekels in 1998 ₪7,175.52 new shekels in 2021
₪10,000 new shekels in 1998 ₪14,351.05 new shekels in 2021
₪50,000 new shekels in 1998 ₪71,755.24 new shekels in 2021
₪100,000 new shekels in 1998 ₪143,510.49 new shekels in 2021
₪500,000 new shekels in 1998 ₪717,552.44 new shekels in 2021
₪1,000,000 new shekels in 1998 ₪1,435,104.89 new shekels in 2021
Cumulative inflation From 1998 52.68%
Avg. annual inflation From 1998 1.78%
CPI 1998 71.26
CPI today 108.8

Value of New Shekel over time (by year)

Period Value
1998 100
1999 105.18
2000 106.28
2001 107.51
2002 113.7
2003 114.52
2004 114.05
2005 115.55
2006 117.93
2007 118.47
2008 123.87
2009 128.01
2010 131.49
2011 136.06
2012 138.36
2013 140.54
2014 141.22
2015 140.33
2016 139.56
2017 139.9
2018 141.05
2019 142.24
2020 141.4
2021 143.51
2022-10 152.21
Today 152.68

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 |

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