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# Inflation calculator - South African Rand

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

R100 in 1957
R11,660.29 in 2023

The inflation rate in South Africa between 1957 and 2023 was 11,560.29%, which translates into a total increase of R11,560.29. This means that 100 rand in 1957 are equivalent to 11,660.29 rand in 2023. In other words, the purchasing power of R100 in 1957 equals R11,660.29 in 2023. The average annual inflation rate between these periods was 7.48%.

## Inflation timeline in South Africa (1957 - 2023)

The following chart depicts the equivalence of R100 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 (ZAR) 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.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation from 1957 to 2023 11,560.29%
Avg. Annual inflation from 1957 to 2023 7.48%
CPI 1957 1.28
CPI 2023 149.54

## How to calculate the time value of money with inflation data?

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 1957 and 2023, use the corresponding CPI values:

Value2023
=Value1957 ×
CPI2023/CPI1957
=R 100 ×
149.54/1.28
R11,660.29

### 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 R100 worth today. There are 66 years between 1957 and 2023 and the average inflation rate was 7.4766%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=R100 × (1 + 0.074766)66
R11,660.29

## South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1957 R116.6 rand in 2023
R5 rand in 1957 R583.01 rand in 2023
R10 rand in 1957 R1,166.03 rand in 2023
R50 rand in 1957 R5,830.15 rand in 2023
R100 rand in 1957 R11,660.29 rand in 2023
R500 rand in 1957 R58,301.46 rand in 2023
R1,000 rand in 1957 R116,602.92 rand in 2023
R5,000 rand in 1957 R583,014.62 rand in 2023
R10,000 rand in 1957 R1,166,029.24 rand in 2023
R50,000 rand in 1957 R5,830,146.22 rand in 2023
R100,000 rand in 1957 R11,660,292.44 rand in 2023
R500,000 rand in 1957 R58,301,462.21 rand in 2023
R1,000,000 rand in 1957 R116,602,924.42 rand in 2023
 Cumulative inflation 1957-2023 11,560.29% Avg. annual inflation 1957-2023 7.48% CPI 1957 1.28 CPI 2023 149.54

### Value of Rand over time (by year)

Period Value
1957 100
1958 103.46
1959 104.72
1960 106.07
1961 108.3
1962 109.65
1963 111.12
1964 113.94
1965 118.57
1966 122.71
1967 127.05
1968 129.58
1969 133.77
1970 140.45
1971 148.82
1972 158.38
1973 173.32
1974 193.64
1975 219.64
1976 243.85
1977 271.04
1978 301.22
1979 341.27
1980 387.88
1981 447.05
1982 512.5
1983 575.55
1984 641.89
1985 746.48
1986 885.74
1987 1,028.88
1988 1,160.37
1989 1,331.3
1990 1,521.95
1991 1,755.34
1992 1,998.89
1993 2,193.13
1994 2,389.17
1995 2,596.56
1996 2,787.51
1997 3,027.17
1998 3,235.46
1999 3,403.11
2000 3,584.8
2001 3,789.2
2002 4,148.97
2003 4,384.61
2004 4,354.26
2005 4,444.09
2006 4,588.25
2007 4,871.7
2008 5,362.51
2009 5,749.43
2010 5,984.56
2011 6,283.75
2012 6,643.47
2013 7,027.76
2014 7,458.55
2015 7,797.22
2016 8,309.6
2017 8,740.39
2018 9,135.21
2019 9,511.61
2020 9,816.93
2021 10,269.65
2022 10,992.61
2023 11,660.29

All available years

Today's value of south african rand by year:

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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