Value of 1953 New Zealand Dollars today

$100 in 1953

$2,892.07 in 2019

The inflation rate in New Zealand between 1953 and today has been 2,792.07%, which translates into a total increase of $2,792.07. This means that 100 dollars in 1953 are equivalent to 2,892.07 dollars in 2019. In other words, the purchasing power of $100 in 1953 equals $2,892.07 today. The average annual inflation rate has been 5.15%.

Inflation timeline in New Zealand (1953-2019)

The following chart depicts the equivalence of $100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1953-2019) 2,790.1%
Total Inflation* 2,792.07%
Annual inflation avg. (1953-2019) 5.23%
Annual inflation avg.* 5.15%
CPI 1953 3.63
CPI 2019 104.79
CPI today* 104.86
$1 in 1953 $28.9 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 66 years between 1953 and 2019 and the average inflation rate has been 5.15%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)66 = $2,890.1

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 1953 was 3.63 and the CPI today is 104.86. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.79/3.63
= $2,890.1

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1953 $28.92 dollars today
$5 dollars in 1953 $144.6 dollars today
$10 dollars in 1953 $289.21 dollars today
$50 dollars in 1953 $1,446.04 dollars today
$100 dollars in 1953 $2,892.07 dollars today
$500 dollars in 1953 $14,460.36 dollars today
$1,000 dollars in 1953 $28,920.71 dollars today
$5,000 dollars in 1953 $144,603.56 dollars today
$10,000 dollars in 1953 $289,207.12 dollars today
$50,000 dollars in 1953 $1,446,035.59 dollars today
$100,000 dollars in 1953 $2,892,071.18 dollars today
$500,000 dollars in 1953 $14,460,355.91 dollars today
$1,000,000 dollars in 1953 $28,920,711.82 dollars today

Value of Dollar in time (by year)

Period Value
1953 100
1954 105.56
1955 108.11
1956 110.82
1957 115.93
1958 118.02
1959 125.65
1960 127.09
1961 129.08
1962 131.84
1963 134.6
1964 137.59
1965 143.77
1966 147.2
1967 150.67
1968 160.56
1969 168.7
1970 175.39
1971 192.84
1972 210.44
1973 221.93
1974 244.47
1975 275.16
1976 318.36
1977 368.16
1978 424.57
1979 467.45
1980 544.72
1981 632.6
1982 731.92
1983 843.89
1984 874.26
1985 956.44
1986 1,102.44
1987 1,303.52
1988 1,428.54
1989 1,495.85
1990 1,603.55
1991 1,681.34
1992 1,697.79
1993 1,720.23
1994 1,744.16
1995 1,793
1996 1,845.33
1997 1,892.42
1998 1,908.12
1999 1,915.09
2000 1,924.83
2001 2,001.36
2002 2,037.72
2003 2,093.2
2004 2,125.73
2005 2,183.13
2006 2,252.01
2007 2,311.34
2008 2,384.94
2009 2,465.43
2010 2,513.73
2011 2,614.92
2012 2,663.22
2013 2,688.52
2014 2,732.22
2015 2,752.92
2016 2,755.21
2017 2,792.01
2018 2,836.53
2019 2,890.1
Today 2,892.07