Value of 2003 Israeli New Shekels today

₪100 in 2003
₪142.91 in 2024

The inflation rate in Israel between 2003 and today has been 42.91%, which translates into a total increase of ₪42.91. This means that 100 new shekels in 2003 are equivalent to 142.91 new shekels in 2024. In other words, the purchasing power of ₪100 in 2003 equals ₪142.91 today. The average annual inflation rate between these periods has been 1.71%.

Inflation timeline in Israel (2003 - 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 2003-2023 36.36%
Cumulative inflation 2003-today 42.91%
Avg. Annual inflation 2003-2023 1.56%
CPI 2003 81.59
CPI 2023 111.25
CPI 2024-08 (latest official data) 116.15
CPI today 116.6

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 2003 and 2023, use the corresponding CPI values:

Value2023
=Value2003 ×
CPI2023/CPI2003
=₪ 100 ×
111.25/81.59
₪136.36

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.6:

Valuetoday
=Value2003 ×
CPItoday/CPI2003
=₪ 100 ×
116.6/81.59
₪142.91

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 20 years between 2003 and 2023 and the average inflation rate was 1.5629%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0.015629)20
₪136.36

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 2003 ₪1.36 new shekels in 2023
₪5 new shekels in 2003 ₪6.82 new shekels in 2023
₪10 new shekels in 2003 ₪13.64 new shekels in 2023
₪50 new shekels in 2003 ₪68.18 new shekels in 2023
₪100 new shekels in 2003 ₪136.36 new shekels in 2023
₪500 new shekels in 2003 ₪681.82 new shekels in 2023
₪1,000 new shekels in 2003 ₪1,363.65 new shekels in 2023
₪5,000 new shekels in 2003 ₪6,818.23 new shekels in 2023
₪10,000 new shekels in 2003 ₪13,636.46 new shekels in 2023
₪50,000 new shekels in 2003 ₪68,182.28 new shekels in 2023
₪100,000 new shekels in 2003 ₪136,364.57 new shekels in 2023
₪500,000 new shekels in 2003 ₪681,822.83 new shekels in 2023
₪1,000,000 new shekels in 2003 ₪1,363,645.67 new shekels in 2023
Cumulative inflation From 2003 42.91%
Avg. annual inflation From 2003 1.71%
CPI 2003 81.59
CPI today 116.6

Value of New Shekel over time (by year)

Period Value
2003 100
2004 99.62
2005 100.93
2006 103.01
2007 103.48
2008 108.19
2009 111.82
2010 114.83
2011 118.83
2012 120.83
2013 122.72
2014 123.31
2015 122.57
2016 121.9
2017 122.21
2018 123.18
2019 124.23
2020 123.47
2021 125.33
2022 130.84
2023 136.36
2024-08 142.36
Today 142.91

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 |

Other currencies: