Value of 1951 New Zealand Dollars today

$100 in 1951

$3,381.16 today

The inflation rate in New Zealand between 1951 and today has been 3,281.16%, which translates into a total increase of $3,281.16. This means that 100 dollars in 1951 are equivalent to 3,381.16 dollars in 2018. In other words, the purchasing power of $100 in 1951 equals $3,381.16 today. The average annual inflation rate has been 5.31%.

Inflation timeline in New Zealand (1951-2019)

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 (1951-2018) 3,221.69%
Total Inflation* 3,281.16%
Annual inflation avg. (1951-2018) 5.37%
Annual inflation avg.* 5.31%
CPI 1951 3.1
CPI 2018 102.84
CPI today* 104.69
$1 in 1951 $33.22 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 67 years between 1951 and 2018 and the average inflation rate has been 5.314%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)67 = $3,321.69

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 1951 was 3.1 and the CPI today is 104.69. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
102.84/3.1
= $3,321.69

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1951 $33.81 dollars today
$5 dollars in 1951 $169.06 dollars today
$10 dollars in 1951 $338.12 dollars today
$50 dollars in 1951 $1,690.58 dollars today
$100 dollars in 1951 $3,381.16 dollars today
$500 dollars in 1951 $16,905.8 dollars today
$1,000 dollars in 1951 $33,811.59 dollars today
$5,000 dollars in 1951 $169,057.97 dollars today
$10,000 dollars in 1951 $338,115.94 dollars today
$50,000 dollars in 1951 $1,690,579.72 dollars today
$100,000 dollars in 1951 $3,381,159.45 dollars today
$500,000 dollars in 1951 $16,905,797.24 dollars today
$1,000,000 dollars in 1951 $33,811,594.49 dollars today

Value of Dollar in time (by year)

Period Value
1951 100
1952 111.95
1953 117.1
1954 123.62
1955 126.61
1956 129.77
1957 135.75
1958 138.21
1959 147.14
1960 148.82
1961 151.15
1962 154.39
1963 157.62
1964 161.12
1965 168.36
1966 172.38
1967 176.44
1968 188.02
1969 197.55
1970 205.39
1971 225.83
1972 246.43
1973 259.89
1974 286.28
1975 322.22
1976 372.81
1977 431.13
1978 497.18
1979 547.4
1980 637.89
1981 740.8
1982 857.11
1983 988.23
1984 1,023.79
1985 1,120.03
1986 1,291
1987 1,526.47
1988 1,672.87
1989 1,751.71
1990 1,877.83
1991 1,968.92
1992 1,988.19
1993 2,014.46
1994 2,042.49
1995 2,099.68
1996 2,160.95
1997 2,216.1
1998 2,234.48
1999 2,242.65
2000 2,254.05
2001 2,343.68
2002 2,386.25
2003 2,451.23
2004 2,489.32
2005 2,556.54
2006 2,637.2
2007 2,706.68
2008 2,792.86
2009 2,887.12
2010 2,943.68
2011 3,062.18
2012 3,118.74
2013 3,148.37
2014 3,199.54
2015 3,223.78
2016 3,226.47
2017 3,269.56
2018 3,321.69
Today 3,381.16