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Value of 1928 New Zealand Dollars today

$100 in 1928
$5,821.83 in 2022

The inflation rate in New Zealand between 1928 and today has been 5,721.83%, which translates into a total increase of $5,721.83. This means that 100 dollars in 1928 are equivalent to 5,821.83 dollars in 2022. In other words, the purchasing power of $100 in 1928 equals $5,821.83 today. The average annual inflation rate between these periods has been 4.42%.

Inflation timeline in New Zealand (1928 - 2022)

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. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1928-2021 5,161.05%
Cumulative inflation 1928-today 5,721.83%
Avg. Annual inflation 1928-2021 4.35%
CPI 1928 2.13
CPI 2021 111.89
CPI 2022-Q2 (latest official data) 118.69
CPI today 123.82

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 1928 and 2021, use the corresponding CPI values:

Value2021
=Value1928 ×
CPI2021/CPI1928
=$ 100 ×
111.89/2.13
$5,261.05

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 123.82:

Valuetoday
=Value1928 ×
CPItoday/CPI1928
=$ 100 ×
123.82/2.13
$5,821.83

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 93 years between 1928 and 2021 and the average inflation rate was 4.3533%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.043533)93
$5,261.05

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1928 $52.61 dollars in 2021
$5 dollars in 1928 $263.05 dollars in 2021
$10 dollars in 1928 $526.1 dollars in 2021
$50 dollars in 1928 $2,630.52 dollars in 2021
$100 dollars in 1928 $5,261.05 dollars in 2021
$500 dollars in 1928 $26,305.24 dollars in 2021
$1,000 dollars in 1928 $52,610.49 dollars in 2021
$5,000 dollars in 1928 $263,052.44 dollars in 2021
$10,000 dollars in 1928 $526,104.87 dollars in 2021
$50,000 dollars in 1928 $2,630,524.35 dollars in 2021
$100,000 dollars in 1928 $5,261,048.71 dollars in 2021
$500,000 dollars in 1928 $26,305,243.54 dollars in 2021
$1,000,000 dollars in 1928 $52,610,487.09 dollars in 2021
Cumulative inflation From 1928 5,721.83%
Avg. annual inflation From 1928 4.42%
CPI 1928 2.13
CPI today 123.82

Value of Dollar over time (by year)

Period Value
1928 100
1929 99.72
1930 97.74
1931 90.15
1932 83.11
1933 79.33
1934 80.42
1935 83.44
1936 85.8
1937 91.82
1938 94.5
1939 98.83
1940 102.94
1941 106.77
1942 110.25
1943 112.94
1944 114.9
1945 116.47
1946 117.37
1947 121.22
1948 130.7
1949 132.86
1950 140.44
1951 155.92
1952 168.01
1953 175.62
1954 183.72
1955 188.33
1956 194.89
1957 199.13
1958 207.99
1959 215.95
1960 217.45
1961 221.36
1962 227.3
1963 231.77
1964 239.83
1965 247.97
1966 254.81
1967 270.24
1968 281.89
1969 295.78
1970 315.05
1971 347.78
1972 371.89
1973 402.26
1974 446.95
1975 512.59
1976 599.25
1977 685.44
1978 767.4
1979 872.53
1980 1,022.17
1981 1,179.28
1982 1,369.9
1983 1,470.46
1984 1,561.21
1985 1,801.91
1986 2,040
1987 2,361.19
1988 2,511.72
1989 2,655.29
1990 2,817.22
1991 2,890.53
1992 2,919.86
1993 2,957.47
1994 3,009.09
1995 3,122.08
1996 3,193.45
1997 3,231.36
1998 3,272.24
1999 3,268.5
2000 3,353.98
2001 3,442.05
2002 3,534.2
2003 3,596.17
2004 3,678.53
2005 3,790.25
2006 3,917.81
2007 4,010.9
2008 4,169.69
2009 4,257.91
2010 4,355.92
2011 4,531.38
2012 4,579.41
2013 4,631.36
2014 4,688.21
2015 4,701.93
2016 4,732.31
2017 4,819.9
2018 4,896.94
2019 4,976.25
2020 5,061.57
2021 5,261.05
2022-Q2 5,580.7
Today 5,821.83

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 |

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