Result: ₪100 in 1961 → ₪11,523,948.42 in 2020
Israeli Inflation Rate, ₪100 in 1961 to 2020
Updated: January 15, 2020According to the World Bank consumer price index for Israel, today's prices in 2020 are 11,523,848.42% higher than average prices since 1961. The Israeli New Shekel experienced an average inflation rate of 21.84% per year during this period, meaning the real value of a shekel decreased.
In other words, ₪100 in 1961 is equivalent in purchasing power to about ₪11,523,948.42 in 2020, a difference of ₪11,523,848.42 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 inflation rate (2019 to 2020) is now 0.81%1. If this number holds, ₪100 today will be equivalent in buying power to ₪100.81 next year.
⌃
| Cumulative price change | 11,523,848.42% |
| Average inflation rate | 21.84% |
| Converted amount (₪100 base) | ₪11,523,948.42 |
| Price difference (₪100 base) | ₪11,523,848.42 |
| CPI in 1961 | 0.001 |
| CPI in 2020 | 109.002 |
| Inflation in 1961 | 6.79% |
| Inflation in 2020 | 0.81% |
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 ₪11,523,948.42 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₪100 is equivalent to ₪11,523,948.42 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 buys less over the past 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:
How to Calculate Inflation Rate for ₪100 since 1961
This inflation calculator uses the following inflation rate formula:
CPI in 2020CPI in 1961
×
1961 ILS value
=
2020 ILS value
Then plug in historical CPI values. The Israeli CPI was 0.0009458779 in the year 1961 and 109.0024813262454 in 2020:
109.00248132624540.0009458779
×
₪100
=
₪11,523,948.42
₪100 in 1961 has the same "purchasing power" or "buying power" as ₪11,523,948.42 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:
109.0024813262454 - 0.00094587790.0009458779
×
100
=
11,523,848%
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, 20 Jan. 2020, https://www.officialdata.org/israel/inflation.
Special thanks to QuickChart for providing downloadable chart images.
| Cumulative price change | 11,523,848.42% |
| Average inflation rate | 21.84% |
| Converted amount (₪100 base) | ₪11,523,948.42 |
| Price difference (₪100 base) | ₪11,523,848.42 |
| CPI in 1961 | 0.001 |
| CPI in 2020 | 109.002 |
| Inflation in 1961 | 6.79% |
| Inflation in 2020 | 0.81% |