Value of 2008 Israeli New Shekels today

₪100 in 2008

₪117.62 in 2018

The inflation rate in Israel between 2008 and today has been 17.62%, which translates into a total increase of ₪17.62. This means that 100 new shekels in 2008 are equivalent to 117.62 new shekels in 2018. In other words, the purchasing power of ₪100 in 2008 equals ₪117.62 today. The average annual inflation rate has been 1.49%.

Inflation timeline in Israel (2008-2018)

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 (2008-2018) 16%
Total Inflation* 17.62%
Annual inflation avg. (2008-2018) 1.5%
Annual inflation avg.* 1.49%
CPI 2008 86.12
CPI 2018 99.89
CPI today* 101.29
₪1 in 2008 ₪1.16 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 10 years between 2008 and 2018 and the average inflation rate has been 1.4861%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₪100 * (1 + 0.01)10 = ₪116

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 2008 was 86.12 and the CPI today is 101.29. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₪100 *
99.89/86.12
= ₪116

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 2008 ₪1.18 new shekels today
₪5 new shekels in 2008 ₪5.88 new shekels today
₪10 new shekels in 2008 ₪11.76 new shekels today
₪50 new shekels in 2008 ₪58.81 new shekels today
₪100 new shekels in 2008 ₪117.62 new shekels today
₪500 new shekels in 2008 ₪588.09 new shekels today
₪1,000 new shekels in 2008 ₪1,176.17 new shekels today
₪5,000 new shekels in 2008 ₪5,880.86 new shekels today
₪10,000 new shekels in 2008 ₪11,761.71 new shekels today
₪50,000 new shekels in 2008 ₪58,808.56 new shekels today
₪100,000 new shekels in 2008 ₪117,617.12 new shekels today
₪500,000 new shekels in 2008 ₪588,085.6 new shekels today
₪1,000,000 new shekels in 2008 ₪1,176,171.2 new shekels today

Value of New Shekel in time (by year)

Period Value
2008 100
2009 103.8
2010 107.88
2011 110.75
2012 113.16
2013 115.01
2014 117.13
2015 116.9
2016 115.77
2017 115.54
2018 116
Today 117.62