Inflation calculator - Turkish Lira

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.

₺100 in 1956

₺597,901,419.04 in 2018

The inflation rate in Turkey between 1956 and 2018 was 597,901,319.04%, which translates into a total increase of ₺597,901,319.04. This means that 100 lira in 1956 are equivalent to 597,901,419.04 lira in 2018. In other words, the purchasing power of ₺100 in 1956 equals ₺597,901,419.04 in 2018. The average annual inflation rate between these periods was 28.62%.

Inflation timeline in Turkey (1956 - 2018)

The following chart ilustrates the equivalence of turkish lira 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 (TRY) 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 (1956-2018) 597,901,319.04%
Annual inflation avg. (1956-2018) 28.62%
CPI 1956 0
CPI 2018 125.64
₺1 in 1956 ₺5,979,014.19 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 ₺100 in 1956 in terms of purchasing power. There are 62 years between 1956 and 2018 and the average inflation rate was 28.6176%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = ₺100 * (1 + 0.286176)62 = ₺597,901,419.040458 ≈ ₺597,901,419.04

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 1956 was 0 and in 2018 was 125.64. Therefore,

Final value = Initial value *
CPI final/CPI initial
= ₺100 *
125.64/0
= ₺597,901,419.04

Turkey inflation - Conversion table

Initial Value Equivalent value
₺1 lira in 1956 ₺5,979,014.19 lira in 2018
₺5 lira in 1956 ₺29,895,070.95 lira in 2018
₺10 lira in 1956 ₺59,790,141.9 lira in 2018
₺50 lira in 1956 ₺298,950,709.52 lira in 2018
₺100 lira in 1956 ₺597,901,419.04 lira in 2018
₺500 lira in 1956 ₺2,989,507,095.2 lira in 2018
₺1,000 lira in 1956 ₺5,979,014,190.4 lira in 2018
₺5,000 lira in 1956 ₺29,895,070,952.02 lira in 2018
₺10,000 lira in 1956 ₺59,790,141,904.05 lira in 2018
₺50,000 lira in 1956 ₺298,950,709,520.23 lira in 2018
₺100,000 lira in 1956 ₺597,901,419,040.46 lira in 2018
₺500,000 lira in 1956 ₺2,989,507,095,202.29 lira in 2018
₺1,000,000 lira in 1956 ₺5,979,014,190,404.58 lira in 2018

Value of Lira in time (by year)

Period Value
1956 100
1957 106.92
1958 121.54
1959 152.31
1960 178.46
1961 173.85
1962 184.62
1963 193.85
1964 202.31
1965 205.38
1966 216.92
1967 240.77
1968 270.77
1969 285.81
1970 302.79
1971 330.89
1972 408.3
1973 453.17
1974 542.72
1975 676.33
1976 786.28
1977 938.29
1978 1,377.11
1979 2,120.34
1980 3,855.62
1981 6,750.12
1982 8,680.46
1983 11,253.54
1984 15,423.96
1985 23,087.18
1986 33,290.2
1987 43,500.53
1988 67,448.11
1989 108,972.74
1990 179,019.33
1991 287,170.39
1992 491,455.78
1993 815,652.27
1994 1,395,385.03
1995 3,074,186.98
1996 5,412,016.64
1997 9,728,526.42
1998 19,368,955.28
1999 32,874,147.01
2000 55,488,955.09
2001 77,148,309.24
2002 130,019,367.86
2003 168,698,546.7
2004 190,139,286.77
2005 207,926,069.04
2006 223,977,976.8
2007 245,599,642.15
2008 266,198,665.66
2009 292,988,360.25
2010 312,108,193.51
2011 332,086,351.13
2012 366,783,317.95
2013 389,391,078.41
2014 418,207,830.9
2015 452,375,203.43
2016 492,221,926.13
2017 534,223,525.04
2018 597,901,419.04