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 1958

R8,757.12 in 2018

The inflation rate in South Africa between 1958 and 2018 was 8,657.12%, which translates into a total increase of R8,657.12. This means that 100 rand in 1958 are equivalent to 8,757.12 rand in 2018. In other words, the purchasing power of R100 in 1958 equals R8,757.12 in 2018. The average annual inflation rate between these periods was 7.74%.

Inflation timeline in South Africa (1958 - 2018)

The following chart ilustrates the equivalence of south african rand throughout the years due to compound 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 (ZAR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1958-2018) 8,657.12%
Annual inflation avg. (1958-2018) 7.74%
CPI 1958 1.3
CPI 2018 113.91
R1 in 1958 R87.57 in 2018

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 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, the future value is the amount in 2018 that equals R100 in 1958 in terms of purchasing power. There are 60 years between 1958 and 2018 and the average inflation rate was 7.7389%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = R100 * (1 + 0.077389)60 = R8,757.123868 ≈ R8,757.12

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 1958 was 1.3 and in 2018 was 113.91. Therefore,

Final value = Initial value *
CPI final/CPI initial
= R100 *
113.91/1.3
= R8,757.12

South Africa inflation - Conversion table

Initial Value Equivalent value
R1 rand in 1958 R87.57 rand in 2018
R5 rand in 1958 R437.86 rand in 2018
R10 rand in 1958 R875.71 rand in 2018
R50 rand in 1958 R4,378.56 rand in 2018
R100 rand in 1958 R8,757.12 rand in 2018
R500 rand in 1958 R43,785.62 rand in 2018
R1,000 rand in 1958 R87,571.24 rand in 2018
R5,000 rand in 1958 R437,856.19 rand in 2018
R10,000 rand in 1958 R875,712.39 rand in 2018
R50,000 rand in 1958 R4,378,561.93 rand in 2018
R100,000 rand in 1958 R8,757,123.87 rand in 2018
R500,000 rand in 1958 R43,785,619.34 rand in 2018
R1,000,000 rand in 1958 R87,571,238.68 rand in 2018

Value of Rand in time (by year)

Period Value
1958 100
1959 103.13
1960 103.82
1961 105.21
1962 107.29
1963 109.03
1964 110.07
1965 114.93
1966 118.75
1967 123.26
1968 126.04
1969 129.51
1970 134.38
1971 141.45
1972 152.06
1973 162.66
1974 176.81
1975 201.56
1976 226.32
1977 251.07
1978 279.36
1979 311.18
1980 357.15
1981 413.73
1982 470.31
1983 533.96
1984 590.54
1985 668.34
1986 792.1
1987 937.09
1988 1,075
1989 1,209.38
1990 1,396.79
1991 1,598.35
1992 1,860.03
1993 2,036.84
1994 2,231.33
1995 2,450.58
1996 2,620.31
1997 2,864.31
1998 3,041.12
1999 3,313.4
2000 3,387.66
2001 3,624.59
2002 3,790.79
2003 4,302.86
2004 4,232.53
2005 4,325.6
2006 4,412.85
2007 4,625.43
2008 4,975.5
2009 5,438.63
2010 5,773.84
2011 5,966.58
2012 6,343.68
2013 6,712.4
2014 7,064.36
2015 7,441.46
2016 7,826.94
2017 8,380.02
2018 8,757.12