Result: ₪100 in 1961 → ₪11,530,063.43 in 2020
Why a shekel today is worth only 0.0% of a shekel in 1961
Updated: September 11, 2020According to the World Bank consumer price index for Israel, today's prices in 2020 are 11,529,963.43% higher than average prices since 1961. This means that a shekel today only buys 0.00% of what it could buy in 1961. The Israeli New Shekel experienced an average inflation rate of 21.84% per year during this period, causing the real value of a shekel to decrease.
In other words, ₪100 in 1961 is equivalent in purchasing power to about ₪11,530,063.43 in 2020, a difference of ₪11,529,963.43 over 59 years. This inflation data is collected by the World Bank and is specific to Israel.
The 1961 inflation rate was 6.79%. The current year-over-year inflation rate (2019 to 2020) is now 0.84%1. If this number holds, ₪100 today will be equivalent in buying power to ₪100.84 next year.
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| Cumulative price change | 11,529,963.43% |
| Average inflation rate | 21.84% |
| Converted amount (₪100 base) | ₪11,530,063.43 |
| Price difference (₪100 base) | ₪11,529,963.43 |
| CPI in 1961 | 0.001 |
| CPI in 2020 | 109.060 |
| Inflation in 1961 | 6.79% |
| Inflation in 2020 | 0.84% |
Buying power of ₪100 in 1961
This chart shows a calculation of buying power equivalence for ₪100 in 1961 (price index tracking began in 1960).
For example, if you started with ₪100, you would need to end with ₪11,530,063.43 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₪100 is equivalent to ₪11,530,063.43 over time, that means that the "real value" of a single Israeli shekel decreases over time. In other words, a shekel will pay for fewer items at the store.
This effect explains how inflation erodes the value of a shekel over time. By calculating the value in 1961 dollars, the chart below shows how ₪100 is worth less over 59 years.
According to the World Bank, each of these ILS amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1961 amounts in today's shekels, based on the 11,529,963.43% change in prices:
| Initial value | Equivalent value |
|---|---|
| ₪1 shekel in 1961 | ₪115,300.63 shekels today |
| ₪5 shekels in 1961 | ₪576,503.17 shekels today |
| ₪10 shekels in 1961 | ₪1,153,006.34 shekels today |
| ₪50 shekels in 1961 | ₪5,765,031.71 shekels today |
| ₪100 shekels in 1961 | ₪11,530,063.43 shekels today |
| ₪500 shekels in 1961 | ₪57,650,317.14 shekels today |
| ₪1,000 shekels in 1961 | ₪115,300,634.29 shekels today |
| ₪5,000 shekels in 1961 | ₪576,503,171.43 shekels today |
| ₪10,000 shekels in 1961 | ₪1,153,006,342.87 shekels today |
| ₪50,000 shekels in 1961 | ₪5,765,031,714.33 shekels today |
| ₪100,000 shekels in 1961 | ₪11,530,063,428.65 shekels today |
| ₪500,000 shekels in 1961 | ₪57,650,317,143.27 shekels today |
| ₪1,000,000 shekels in 1961 | ₪115,300,634,286.54 shekels today |
How to Calculate Inflation Rate for ₪100 since 1961
Our calculations use the following inflation rate formula to calculate the change in value between 1961 and today:
CPI today
CPI in 1961
×
1961 ILS value
=
Today's value
Then plug in historical CPI values. The Israeli CPI was 0.0009458779 in the year 1961 and 109.06032182761633 in 2020:
109.060321827616330.0009458779
×
₪100
=
₪11,530,063.43
₪100 in 1961 has the same "purchasing power" or "buying power" as ₪11,530,063.43 in 2020.
To get the total inflation rate for the 59 years between 1961 and 2020, we use the following formula:
CPI in 2020 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (59 years)
Plugging in the values to this equation, we get:
109.06032182761633 - 0.00094587790.0009458779
×
100
=
11,529,963%
News headlines from 1961
Politics and news often influence economic performance. Here's what was happening at the time:
- A dog named Chernushka, frogs, and a guinea pig orbit the Earth in the Soviet flight Sputnik 9.
- Nelson Mandela is acquitted of treason after a four-and-a-half year trial.
Data Source & Citation
You may use the following MLA citation for this page: “Israel Inflation Calculator: World Bank data, 1961-2020 (ILS).” Official Inflation Data, Alioth Finance, 17 Sep. 2020, https://www.officialdata.org/israel/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 11,529,963.43% |
| Average inflation rate | 21.84% |
| Converted amount (₪100 base) | ₪11,530,063.43 |
| Price difference (₪100 base) | ₪11,529,963.43 |
| CPI in 1961 | 0.001 |
| CPI in 2020 | 109.060 |
| Inflation in 1961 | 6.79% |
| Inflation in 2020 | 0.84% |