Result: ₪100 in 1960 → ₪13,419,284.63 in 2023
The Israeli New Shekel has lost 99.999% of its value since 1960
Updated: February 14, 2022₪100 in 1960 is equivalent in purchasing power to about ₪13,419,284.63 today, an increase of ₪13,419,184.63 over 63 years. The shekel had an average inflation rate of 20.61% per year between 1960 and today, producing a cumulative price increase of 13,419,184.63%.
This means that today's prices are 134,192.85 times as high as average prices since 1960, according to the OECD and the World Bank consumer price index for Israel. A shekel today only buys 0.001% of what it could buy back then.
The inflation rate in 1960 was 2.23%. The current inflation rate compared to last year is now 5.66%. If this number holds, ₪100 today will be equivalent in buying power to ₪105.66 next year.
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| Cumulative price change | 13,419,184.63% |
| Average inflation rate | 20.61% |
| Converted amount (₪100 base) | ₪13,419,284.63 |
| Price difference (₪100 base) | ₪13,419,184.63 |
| CPI in 1960 | 0.001 |
| CPI in 2023 | 111.730 |
| Inflation in 1960 | 2.23% |
| Inflation in 2023 | 5.66% |
| ₪100 in 1960 | ₪13,419,284.63 in 2023 |
Buying power of ₪100 in 1960
This chart shows a calculation of buying power equivalence for ₪100 in 1960 (price index tracking began in 1959).
For example, if you started with ₪100, you would need to end with ₪13,419,284.63 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₪100 is equivalent to ₪13,419,284.63 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 1960 dollars, the chart below shows how ₪100 is worth less over 63 years.
According to the OECD and 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 1960 amounts in today's shekels, based on the 13,419,184.63% change in prices:
| Initial value | Equivalent value |
|---|---|
| ₪1 shekel in 1960 | ₪134,192.85 shekels today |
| ₪5 shekels in 1960 | ₪670,964.23 shekels today |
| ₪10 shekels in 1960 | ₪1,341,928.46 shekels today |
| ₪50 shekels in 1960 | ₪6,709,642.32 shekels today |
| ₪100 shekels in 1960 | ₪13,419,284.63 shekels today |
| ₪500 shekels in 1960 | ₪67,096,423.16 shekels today |
| ₪1,000 shekels in 1960 | ₪134,192,846.32 shekels today |
| ₪5,000 shekels in 1960 | ₪670,964,231.60 shekels today |
| ₪10,000 shekels in 1960 | ₪1,341,928,463.20 shekels today |
| ₪50,000 shekels in 1960 | ₪6,709,642,315.99 shekels today |
| ₪100,000 shekels in 1960 | ₪13,419,284,631.98 shekels today |
| ₪500,000 shekels in 1960 | ₪67,096,423,159.92 shekels today |
| ₪1,000,000 shekels in 1960 | ₪134,192,846,319.84 shekels today |
How to calculate inflation rate for ₪100 since 1960
Our calculations use the following inflation rate formula to calculate the change in value between 1960 and today:
CPI today CPI in 1960
×
1960 ILS value
=
Today's value
Then plug in historical CPI values. The Israeli CPI was 0.0008326113008310761 in the year 1960 and 111.73048033658532 in 2023:
111.730480336585320.0008326113008310761
×
₪100
=
₪13,419,284.63
₪100 in 1960 has the same "purchasing power" or "buying power" as ₪13,419,284.63 in 2023.
To get the total inflation rate for the 63 years between 1960 and 2023, we use the following formula:
CPI in 2023 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (63 years)
Plugging in the values to this equation, we get:
111.73048033658532 - 0.00083261130083107610.0008326113008310761
×
100
=
13,419,185%
Data source & citation
You may use the following MLA citation for this page: “Israel Inflation Calculator: World Bank data, 1960-2023 (ILS).” Official Inflation Data, Alioth Finance, 16 Mar. 2023, https://www.officialdata.org/israel/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 13,419,184.63% |
| Average inflation rate | 20.61% |
| Converted amount (₪100 base) | ₪13,419,284.63 |
| Price difference (₪100 base) | ₪13,419,184.63 |
| CPI in 1960 | 0.001 |
| CPI in 2023 | 111.730 |
| Inflation in 1960 | 2.23% |
| Inflation in 2023 | 5.66% |
| ₪100 in 1960 | ₪13,419,284.63 in 2023 |