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# Inflation calculator - New Zealand Dollar

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

\$100 in 1926
\$5,917.72 in 2023

The inflation rate in New Zealand between 1926 and 2023 was 5,817.72%, which translates into a total increase of \$5,817.72. This means that 100 dollars in 1926 are equivalent to 5,917.72 dollars in 2023. In other words, the purchasing power of \$100 in 1926 equals \$5,917.72 in 2023. The average annual inflation rate between these periods was 4.3%.

## Inflation timeline in New Zealand (1926 - 2023)

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 (NZD) 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.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 1926 to 2023 5,817.72%
Avg. Annual inflation from 1926 to 2023 4.3%
CPI 1926 2.14
CPI 2023 126.79

## How to calculate the time value of money with inflation data?

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 1926 and 2023, use the corresponding CPI values:

Value2023
=Value1926 ×
CPI2023/CPI1926
=\$ 100 ×
126.79/2.14
\$5,917.72

### 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 97 years between 1926 and 2023 and the average inflation rate was 4.2965%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=\$100 × (1 + 0.042965)97
\$5,917.72

## New Zealand inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1926 \$59.18 dollars in 2023
\$5 dollars in 1926 \$295.89 dollars in 2023
\$10 dollars in 1926 \$591.77 dollars in 2023
\$50 dollars in 1926 \$2,958.86 dollars in 2023
\$100 dollars in 1926 \$5,917.72 dollars in 2023
\$500 dollars in 1926 \$29,588.58 dollars in 2023
\$1,000 dollars in 1926 \$59,177.16 dollars in 2023
\$5,000 dollars in 1926 \$295,885.79 dollars in 2023
\$10,000 dollars in 1926 \$591,771.58 dollars in 2023
\$50,000 dollars in 1926 \$2,958,857.92 dollars in 2023
\$100,000 dollars in 1926 \$5,917,715.83 dollars in 2023
\$500,000 dollars in 1926 \$29,588,579.16 dollars in 2023
\$1,000,000 dollars in 1926 \$59,177,158.33 dollars in 2023
 Cumulative inflation 1926-2023 5,817.72% Avg. annual inflation 1926-2023 4.3% CPI 1926 2.14 CPI 2023 126.79

### Value of Dollar over time (by year)

Period Value
1926 100
1927 99.19
1928 99.26
1929 98.98
1930 97.02
1931 89.49
1932 82.5
1933 78.75
1934 79.83
1935 82.82
1936 85.17
1937 91.14
1938 93.81
1939 98.11
1940 102.18
1941 105.98
1942 109.44
1943 112.11
1944 114.06
1945 115.61
1946 116.5
1947 120.33
1948 129.74
1949 131.89
1950 139.41
1951 154.77
1952 166.77
1953 174.32
1954 182.36
1955 186.94
1956 193.46
1957 197.67
1958 206.46
1959 214.36
1960 215.85
1961 219.73
1962 225.62
1963 230.07
1964 238.06
1965 246.15
1966 252.93
1967 268.25
1968 279.82
1969 293.6
1970 312.73
1971 345.22
1972 369.15
1973 399.3
1974 443.66
1975 508.81
1976 594.83
1977 680.39
1978 761.74
1979 866.1
1980 1,014.64
1981 1,170.59
1982 1,359.8
1983 1,459.63
1984 1,549.7
1985 1,788.63
1986 2,024.97
1987 2,343.79
1988 2,493.21
1989 2,635.72
1990 2,796.46
1991 2,869.23
1992 2,898.35
1993 2,935.68
1994 2,986.92
1995 3,099.08
1996 3,169.91
1997 3,207.55
1998 3,248.13
1999 3,244.42
2000 3,329.27
2001 3,416.69
2002 3,508.15
2003 3,569.67
2004 3,651.43
2005 3,762.32
2006 3,888.94
2007 3,981.35
2008 4,138.97
2009 4,226.53
2010 4,323.83
2011 4,497.99
2012 4,545.66
2013 4,597.23
2014 4,653.66
2015 4,667.28
2016 4,697.44
2017 4,784.38
2018 4,860.85
2019 4,939.58
2020 5,024.27
2021 5,222.28
2022 5,596.84
2023 5,917.72

All available years

Today's value of New Zealand dollars by year:

1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 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 |

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