Value of 2023 Israeli New Shekels today

₪100 in 2023
₪101.08 in 2024

The inflation rate in Israel between 2023 and today has been 1.08%, which translates into a total increase of ₪1.08. This means that 100 new shekels in 2023 are equivalent to 101.08 new shekels in 2024. In other words, the purchasing power of ₪100 in 2023 equals ₪101.08 today. The average annual inflation rate between these periods has been 1.08%.

Inflation timeline in Israel (2023 - 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 2023-today 1.08%
CPI 2023 111.25
CPI 2023-12 (latest official data) 112.09
CPI today 112.45

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 2023 and 2023, use the corresponding CPI values:

Value2023
=Value2023 ×
CPI2023/CPI2023
=₪ 100 ×
111.25/111.25
₪100

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 112.45:

Valuetoday
=Value2023 ×
CPItoday/CPI2023
=₪ 100 ×
112.45/111.25
₪101.08

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 0 years between 2023 and 2023 and the average inflation rate was 0%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=₪100 × (1 + 0)0
₪100

Israel inflation - Conversion table

Initial Value Equivalent value
₪1 new shekel in 2023 ₪1 new shekels in 2023
₪5 new shekels in 2023 ₪5 new shekels in 2023
₪10 new shekels in 2023 ₪10 new shekels in 2023
₪50 new shekels in 2023 ₪50 new shekels in 2023
₪100 new shekels in 2023 ₪100 new shekels in 2023
₪500 new shekels in 2023 ₪500 new shekels in 2023
₪1,000 new shekels in 2023 ₪1,000 new shekels in 2023
₪5,000 new shekels in 2023 ₪5,000 new shekels in 2023
₪10,000 new shekels in 2023 ₪10,000 new shekels in 2023
₪50,000 new shekels in 2023 ₪50,000 new shekels in 2023
₪100,000 new shekels in 2023 ₪100,000 new shekels in 2023
₪500,000 new shekels in 2023 ₪500,000 new shekels in 2023
₪1,000,000 new shekels in 2023 ₪1,000,000 new shekels in 2023
Cumulative inflation From 2023 1.08%
Avg. annual inflation From 2023 1.08%
CPI 2023 111.25
CPI today 112.45

Value of New Shekel over time (by year)

Period Value
2023 100
2023-12 100.75
Today 101.08

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 | 2022 | 2023 |

Other currencies: