Result: ₪100 in 1960 → ₪11,960,210.54 in 2022
Why a shekel today is worth only 0.001% of a shekel in 1960
Updated: January 12, 2022₪100 in 1960 is equivalent in purchasing power to about ₪11,960,210.54 today, an increase of ₪11,960,110.54 over 62 years. The shekel had an average inflation rate of 20.75% per year between 1960 and today, producing a cumulative price increase of 11,960,110.54%.
This means that today's prices are 119,602.11 times higher than average prices since 1960, according to the World Bank consumer price index for Israel. A shekel today only buys 0.00% of what it could buy back then.
The inflation rate in 1960 was 2.23%. The current year-over-year inflation rate (2021 to 2022) is now -0.59%. If this number holds, ₪100 today will be equivalent in buying power to ₪99.41 next year.
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| Cumulative price change | 11,960,110.54% |
| Average inflation rate | 20.75% |
| Converted amount (₪100 base) | ₪11,960,210.54 |
| Price difference (₪100 base) | ₪11,960,110.54 |
| CPI in 1960 | 1.022 |
| CPI in 2022 | 122,266.975 |
| Inflation in 1960 | 2.23% |
| Inflation in 2022 | -0.59% |
| ₪100 in 1960 | ₪11,960,210.54 in 2022 |
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 ₪11,960,210.54 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₪100 is equivalent to ₪11,960,210.54 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 62 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 1960 amounts in today's shekels, based on the 11,960,110.54% change in prices:
| Initial value | Equivalent value |
|---|---|
| ₪1 shekel in 1960 | ₪119,602.11 shekels today |
| ₪5 shekels in 1960 | ₪598,010.53 shekels today |
| ₪10 shekels in 1960 | ₪1,196,021.05 shekels today |
| ₪50 shekels in 1960 | ₪5,980,105.27 shekels today |
| ₪100 shekels in 1960 | ₪11,960,210.54 shekels today |
| ₪500 shekels in 1960 | ₪59,801,052.70 shekels today |
| ₪1,000 shekels in 1960 | ₪119,602,105.41 shekels today |
| ₪5,000 shekels in 1960 | ₪598,010,527.05 shekels today |
| ₪10,000 shekels in 1960 | ₪1,196,021,054.10 shekels today |
| ₪50,000 shekels in 1960 | ₪5,980,105,270.49 shekels today |
| ₪100,000 shekels in 1960 | ₪11,960,210,540.98 shekels today |
| ₪500,000 shekels in 1960 | ₪59,801,052,704.92 shekels today |
| ₪1,000,000 shekels in 1960 | ₪119,602,105,409.84 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 1.022281124207 in the year 1960 and 122266.97477590018 in 2022:
122266.974775900181.022281124207
×
₪100
=
₪11,960,210.54
₪100 in 1960 has the same "purchasing power" or "buying power" as ₪11,960,210.54 in 2022.
To get the total inflation rate for the 62 years between 1960 and 2022, we use the following formula:
CPI in 2022 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (62 years)
Plugging in the values to this equation, we get:
122266.97477590018 - 1.0222811242071.022281124207
×
100
=
11,960,111%
News headlines from 1960
Politics and news often influence economic performance. Here's what was happening at the time:
- Johnny Cash plays his first concert in a prison.
- The Bank of France issues new franc currency, worth 100 times the value of old francs.
- France grants independence to Cameroon (previously French Cameroon) after years of fighting.
- Guided missiles are launched for the first time from a nuclear powered submarine
Data Source & Citation
You may use the following MLA citation for this page: “Israel Inflation Calculator: World Bank data, 1960-2022 (ILS).” Official Inflation Data, Alioth Finance, 17 Jan. 2022, https://www.officialdata.org/israel/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 11,960,110.54% |
| Average inflation rate | 20.75% |
| Converted amount (₪100 base) | ₪11,960,210.54 |
| Price difference (₪100 base) | ₪11,960,110.54 |
| CPI in 1960 | 1.022 |
| CPI in 2022 | 122,266.975 |
| Inflation in 1960 | 2.23% |
| Inflation in 2022 | -0.59% |
| ₪100 in 1960 | ₪11,960,210.54 in 2022 |