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Value of 1998 New Zealand Dollars today

$100 in 1998
$177.78 in 2022

The inflation rate in New Zealand between 1998 and today has been 77.78%, which translates into a total increase of $77.78. This means that 100 dollars in 1998 are equivalent to 177.78 dollars in 2022. In other words, the purchasing power of $100 in 1998 equals $177.78 today. The average annual inflation rate between these periods has been 2.43%.

Inflation timeline in New Zealand (1998 - 2022)

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 1998-2021 60.78%
Cumulative inflation 1998-today 77.78%
Avg. Annual inflation 1998-2021 2.09%
CPI 1998 69.59
CPI 2021 111.89
CPI 2022-Q2 (latest official data) 118.69
CPI today 123.72

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 1998 and 2021, use the corresponding CPI values:

Value2021
=Value1998 ×
CPI2021/CPI1998
=$ 100 ×
111.89/69.59
$160.78

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 123.72:

Valuetoday
=Value1998 ×
CPItoday/CPI1998
=$ 100 ×
123.72/69.59
$177.78

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 23 years between 1998 and 2021 and the average inflation rate was 2.086%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.02086)23
$160.78

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1998 $1.61 dollars in 2021
$5 dollars in 1998 $8.04 dollars in 2021
$10 dollars in 1998 $16.08 dollars in 2021
$50 dollars in 1998 $80.39 dollars in 2021
$100 dollars in 1998 $160.78 dollars in 2021
$500 dollars in 1998 $803.89 dollars in 2021
$1,000 dollars in 1998 $1,607.78 dollars in 2021
$5,000 dollars in 1998 $8,038.91 dollars in 2021
$10,000 dollars in 1998 $16,077.82 dollars in 2021
$50,000 dollars in 1998 $80,389.08 dollars in 2021
$100,000 dollars in 1998 $160,778.17 dollars in 2021
$500,000 dollars in 1998 $803,890.85 dollars in 2021
$1,000,000 dollars in 1998 $1,607,781.69 dollars in 2021
Cumulative inflation From 1998 77.78%
Avg. annual inflation From 1998 2.43%
CPI 1998 69.59
CPI today 123.72

Value of Dollar over time (by year)

Period Value
1998 100
1999 99.89
2000 102.5
2001 105.19
2002 108.01
2003 109.9
2004 112.42
2005 115.83
2006 119.73
2007 122.57
2008 127.43
2009 130.12
2010 133.12
2011 138.48
2012 139.95
2013 141.53
2014 143.27
2015 143.69
2016 144.62
2017 147.3
2018 149.65
2019 152.07
2020 154.68
2021 160.78
2022-Q2 170.55
Today 177.78

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 |

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