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Value of 1970 New Zealand Dollars today

$100 in 1970
$1,999.99 in 2024

The inflation rate in New Zealand between 1970 and today has been 1,899.99%, which translates into a total increase of $1,899.99. This means that 100 dollars in 1970 are equivalent to 1,999.99 dollars in 2024. In other words, the purchasing power of $100 in 1970 equals $1,999.99 today. The average annual inflation rate between these periods has been 5.7%.

Inflation timeline in New Zealand (1970 - 2024)

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 1970-2023 1,792.26%
Cumulative inflation 1970-today 1,899.99%
Avg. Annual inflation 1970-2023 5.7%
CPI 1970 6.7
CPI 2023 126.79
CPI 2023-Q4 (latest official data) 128.71
CPI today 134.01

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 1970 and 2023, use the corresponding CPI values:

Value2023
=Value1970 ×
CPI2023/CPI1970
=$ 100 ×
126.79/6.7
$1,892.26

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 134.01:

Valuetoday
=Value1970 ×
CPItoday/CPI1970
=$ 100 ×
134.01/6.7
$1,999.99

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 53 years between 1970 and 2023 and the average inflation rate was 5.7046%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.057046)53
$1,892.26

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1970 $18.92 dollars in 2023
$5 dollars in 1970 $94.61 dollars in 2023
$10 dollars in 1970 $189.23 dollars in 2023
$50 dollars in 1970 $946.13 dollars in 2023
$100 dollars in 1970 $1,892.26 dollars in 2023
$500 dollars in 1970 $9,461.3 dollars in 2023
$1,000 dollars in 1970 $18,922.6 dollars in 2023
$5,000 dollars in 1970 $94,613 dollars in 2023
$10,000 dollars in 1970 $189,225.99 dollars in 2023
$50,000 dollars in 1970 $946,129.96 dollars in 2023
$100,000 dollars in 1970 $1,892,259.91 dollars in 2023
$500,000 dollars in 1970 $9,461,299.57 dollars in 2023
$1,000,000 dollars in 1970 $18,922,599.14 dollars in 2023
Cumulative inflation From 1970 1,899.99%
Avg. annual inflation From 1970 5.7%
CPI 1970 6.7
CPI today 134.01

Value of Dollar over time (by year)

Period Value
1970 100
1971 110.39
1972 118.04
1973 127.68
1974 141.87
1975 162.7
1976 190.21
1977 217.56
1978 243.58
1979 276.95
1980 324.44
1981 374.31
1982 434.81
1983 466.73
1984 495.54
1985 571.94
1986 647.51
1987 749.45
1988 797.23
1989 842.8
1990 894.2
1991 917.47
1992 926.78
1993 938.72
1994 955.1
1995 990.97
1996 1,013.62
1997 1,025.65
1998 1,038.63
1999 1,037.44
2000 1,064.57
2001 1,092.53
2002 1,121.77
2003 1,141.45
2004 1,167.59
2005 1,203.05
2006 1,243.53
2007 1,273.08
2008 1,323.48
2009 1,351.48
2010 1,382.6
2011 1,438.28
2012 1,453.53
2013 1,470.02
2014 1,488.06
2015 1,492.42
2016 1,502.06
2017 1,529.86
2018 1,554.32
2019 1,579.49
2020 1,606.57
2021 1,669.89
2022 1,789.66
2023 1,892.26
2023-Q4 1,920.87
Today 1,999.99

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 | 2022 | 2023 |

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