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Value of 2002 New Zealand Dollars today

$100 in 2002
$158.65 in 2022

The inflation rate in New Zealand between 2002 and today has been 58.65%, which translates into a total increase of $58.65. This means that 100 dollars in 2002 are equivalent to 158.65 dollars in 2022. In other words, the purchasing power of $100 in 2002 equals $158.65 today. The average annual inflation rate between these periods has been 2.33%.

Inflation timeline in New Zealand (2002 - 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 2002-2021 48.86%
Cumulative inflation 2002-today 58.65%
Avg. Annual inflation 2002-2021 2.12%
CPI 2002 75.16
CPI 2021 111.89
CPI 2022-Q1 (latest official data) 116.75
CPI today 119.25

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 2002 and 2021, use the corresponding CPI values:

Value2021
=Value2002 ×
CPI2021/CPI2002
=$ 100 ×
111.89/75.16
$148.86

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 119.25:

Valuetoday
=Value2002 ×
CPItoday/CPI2002
=$ 100 ×
119.25/75.16
$158.65

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 19 years between 2002 and 2021 and the average inflation rate was 2.116%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.02116)19
$148.86

New Zealand inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2002 $1.49 dollars in 2021
$5 dollars in 2002 $7.44 dollars in 2021
$10 dollars in 2002 $14.89 dollars in 2021
$50 dollars in 2002 $74.43 dollars in 2021
$100 dollars in 2002 $148.86 dollars in 2021
$500 dollars in 2002 $744.31 dollars in 2021
$1,000 dollars in 2002 $1,488.61 dollars in 2021
$5,000 dollars in 2002 $7,443.06 dollars in 2021
$10,000 dollars in 2002 $14,886.12 dollars in 2021
$50,000 dollars in 2002 $74,430.61 dollars in 2021
$100,000 dollars in 2002 $148,861.22 dollars in 2021
$500,000 dollars in 2002 $744,306.11 dollars in 2021
$1,000,000 dollars in 2002 $1,488,612.23 dollars in 2021
Cumulative inflation From 2002 58.65%
Avg. annual inflation From 2002 2.33%
CPI 2002 75.16
CPI today 119.25

Value of Dollar over time (by year)

Period Value
2002 100
2003 101.75
2004 104.08
2005 107.25
2006 110.85
2007 113.49
2008 117.98
2009 120.48
2010 123.25
2011 128.22
2012 129.57
2013 131.04
2014 132.65
2015 133.04
2016 133.9
2017 136.38
2018 138.56
2019 140.8
2020 143.22
2021 148.86
2022-Q1 155.32
Today 158.65

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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