Value of 1928 New Zealand Dollars today

$100 in 1928

$4,950.28 in 2019

The inflation rate in New Zealand between 1928 and today has been 4,850.28%, which translates into a total increase of $4,850.28. This means that 100 dollars in 1928 are equivalent to 4,950.28 dollars in 2019. In other words, the purchasing power of $100 in 1928 equals $4,950.28 today. The average annual inflation rate has been 4.33%.

Inflation timeline in New Zealand (1928-2019)

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 (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. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1928-2019) 4,843.8%
Total Inflation* 4,850.28%
Annual inflation avg. (1928-2019) 4.38%
Annual inflation avg.* 4.33%
CPI 1928 2.12
CPI 2019 104.79
CPI today* 104.92
$1 in 1928 $49.44 in 2019

* 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 91 years between 1928 and 2019 and the average inflation rate has been 4.3326%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.04)91 = $4,943.8

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 1928 was 2.12 and the CPI today is 104.92. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.79/2.12
= $4,943.8

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1928 $49.5 dollars today
$5 dollars in 1928 $247.51 dollars today
$10 dollars in 1928 $495.03 dollars today
$50 dollars in 1928 $2,475.14 dollars today
$100 dollars in 1928 $4,950.28 dollars today
$500 dollars in 1928 $24,751.41 dollars today
$1,000 dollars in 1928 $49,502.81 dollars today
$5,000 dollars in 1928 $247,514.06 dollars today
$10,000 dollars in 1928 $495,028.13 dollars today
$50,000 dollars in 1928 $2,475,140.64 dollars today
$100,000 dollars in 1928 $4,950,281.29 dollars today
$500,000 dollars in 1928 $24,751,406.43 dollars today
$1,000,000 dollars in 1928 $49,502,812.87 dollars today

Value of Dollar in time (by year)

Period Value
1928 100
1929 100.62
1930 100.14
1931 96.15
1932 88.66
1933 80.47
1934 79.88
1935 80.87
1936 85.37
1937 88.16
1938 94.55
1939 95.15
1940 102.44
1941 105.24
1942 109.23
1943 113.52
1944 115.12
1945 116.82
1946 118.32
1947 118.12
1948 130.1
1949 132.19
1950 134.57
1951 146.07
1952 163.52
1953 171.06
1954 180.58
1955 184.94
1956 189.57
1957 198.3
1958 201.89
1959 214.94
1960 217.39
1961 220.8
1962 225.52
1963 230.25
1964 235.35
1965 245.94
1966 251.8
1967 257.73
1968 274.65
1969 288.58
1970 300.02
1971 329.87
1972 359.98
1973 379.63
1974 418.19
1975 470.68
1976 544.58
1977 629.77
1978 726.26
1979 799.61
1980 931.79
1981 1,082.13
1982 1,252.02
1983 1,443.56
1984 1,495.5
1985 1,636.08
1986 1,885.83
1987 2,229.79
1988 2,443.65
1989 2,558.8
1990 2,743.04
1991 2,876.09
1992 2,904.24
1993 2,942.62
1994 2,983.56
1995 3,067.1
1996 3,156.61
1997 3,237.17
1998 3,264.02
1999 3,275.95
2000 3,292.61
2001 3,423.53
2002 3,485.71
2003 3,580.63
2004 3,636.27
2005 3,734.46
2006 3,852.29
2007 3,953.78
2008 4,079.67
2009 4,217.36
2010 4,299.98
2011 4,473.08
2012 4,555.7
2013 4,598.97
2014 4,673.72
2015 4,709.13
2016 4,713.06
2017 4,776.01
2018 4,852.16
2019 4,943.8
Today 4,950.28