Value of 1960 New Zealand Dollars today

$100 in 1960

$2,276.63 in 2019

The inflation rate in New Zealand between 1960 and today has been 2,176.63%, which translates into a total increase of $2,176.63. This means that 100 dollars in 1960 are equivalent to 2,276.63 dollars in 2019. In other words, the purchasing power of $100 in 1960 equals $2,276.63 today. The average annual inflation rate has been 5.35%.

Inflation timeline in New Zealand (1960-2019)

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 (1960-2019) 2,174.12%
Total Inflation* 2,176.63%
Annual inflation avg. (1960-2019) 5.44%
Annual inflation avg.* 5.35%
CPI 1960 4.61
CPI 2019 104.79
CPI today* 104.9
$1 in 1960 $22.74 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 59 years between 1960 and 2019 and the average inflation rate has been 5.3468%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)59 = $2,274.12

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 1960 was 4.61 and the CPI today is 104.9. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.79/4.61
= $2,274.12

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1960 $22.77 dollars today
$5 dollars in 1960 $113.83 dollars today
$10 dollars in 1960 $227.66 dollars today
$50 dollars in 1960 $1,138.31 dollars today
$100 dollars in 1960 $2,276.63 dollars today
$500 dollars in 1960 $11,383.13 dollars today
$1,000 dollars in 1960 $22,766.25 dollars today
$5,000 dollars in 1960 $113,831.26 dollars today
$10,000 dollars in 1960 $227,662.53 dollars today
$50,000 dollars in 1960 $1,138,312.63 dollars today
$100,000 dollars in 1960 $2,276,625.26 dollars today
$500,000 dollars in 1960 $11,383,126.29 dollars today
$1,000,000 dollars in 1960 $22,766,252.57 dollars today

Value of Dollar in time (by year)

Period Value
1960 100
1961 101.57
1962 103.74
1963 105.91
1964 108.26
1965 113.13
1966 115.83
1967 118.55
1968 126.34
1969 132.74
1970 138.01
1971 151.74
1972 165.59
1973 174.63
1974 192.36
1975 216.51
1976 250.5
1977 289.69
1978 334.08
1979 367.82
1980 428.62
1981 497.77
1982 575.92
1983 664.03
1984 687.92
1985 752.59
1986 867.47
1987 1,025.69
1988 1,124.07
1989 1,177.04
1990 1,261.78
1991 1,322.99
1992 1,335.94
1993 1,353.59
1994 1,372.42
1995 1,410.85
1996 1,452.02
1997 1,489.08
1998 1,501.43
1999 1,506.92
2000 1,514.58
2001 1,574.8
2002 1,603.41
2003 1,647.07
2004 1,672.66
2005 1,717.83
2006 1,772.03
2007 1,818.72
2008 1,876.63
2009 1,939.96
2010 1,977.97
2011 2,057.59
2012 2,095.6
2013 2,115.5
2014 2,149.89
2015 2,166.17
2016 2,167.98
2017 2,196.94
2018 2,231.96
2019 2,274.12
Today 2,276.63