Value of 1956 New Zealand Dollars today

$100 in 1956

$2,611.09 in 2019

The inflation rate in New Zealand between 1956 and today has been 2,511.09%, which translates into a total increase of $2,511.09. This means that 100 dollars in 1956 are equivalent to 2,611.09 dollars in 2019. In other words, the purchasing power of $100 in 1956 equals $2,611.09 today. The average annual inflation rate has been 5.23%.

Inflation timeline in New Zealand (1956-2019)

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 (1956-2019) 2,507.94%
Total Inflation* 2,511.09%
Annual inflation avg. (1956-2019) 5.31%
Annual inflation avg.* 5.23%
CPI 1956 4.02
CPI 2019 104.79
CPI today* 104.91
$1 in 1956 $26.08 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 63 years between 1956 and 2019 and the average inflation rate has been 5.2296%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)63 = $2,607.94

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 1956 was 4.02 and the CPI today is 104.91. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.79/4.02
= $2,607.94

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1956 $26.11 dollars today
$5 dollars in 1956 $130.55 dollars today
$10 dollars in 1956 $261.11 dollars today
$50 dollars in 1956 $1,305.54 dollars today
$100 dollars in 1956 $2,611.09 dollars today
$500 dollars in 1956 $13,055.45 dollars today
$1,000 dollars in 1956 $26,110.9 dollars today
$5,000 dollars in 1956 $130,554.48 dollars today
$10,000 dollars in 1956 $261,108.95 dollars today
$50,000 dollars in 1956 $1,305,544.76 dollars today
$100,000 dollars in 1956 $2,611,089.53 dollars today
$500,000 dollars in 1956 $13,055,447.63 dollars today
$1,000,000 dollars in 1956 $26,110,895.26 dollars today

Value of Dollar in time (by year)

Period Value
1956 100
1957 104.61
1958 106.5
1959 113.38
1960 114.68
1961 116.47
1962 118.97
1963 121.46
1964 124.15
1965 129.74
1966 132.83
1967 135.96
1968 144.88
1969 152.23
1970 158.27
1971 174.01
1972 189.89
1973 200.26
1974 220.6
1975 248.29
1976 287.27
1977 332.22
1978 383.12
1979 421.81
1980 491.54
1981 570.84
1982 660.46
1983 761.5
1984 788.9
1985 863.06
1986 994.81
1987 1,176.26
1988 1,289.07
1989 1,349.81
1990 1,447
1991 1,517.19
1992 1,532.04
1993 1,552.29
1994 1,573.88
1995 1,617.95
1996 1,665.17
1997 1,707.66
1998 1,721.83
1999 1,728.12
2000 1,736.91
2001 1,805.97
2002 1,838.78
2003 1,888.85
2004 1,918.2
2005 1,969.99
2006 2,032.15
2007 2,085.69
2008 2,152.1
2009 2,224.74
2010 2,268.32
2011 2,359.63
2012 2,403.21
2013 2,426.04
2014 2,465.47
2015 2,484.15
2016 2,486.23
2017 2,519.43
2018 2,559.6
2019 2,607.94
Today 2,611.09