# Israel Inflation Calculator

Result: ₪100 in 1960 → ₪13,834,767.73 in 2024

## The Israeli New Shekel has lost 99.999% of its value since 1960

Updated: May 15, 2024

₪100 in 1960 is equivalent in purchasing power to about ₪13,834,767.73 today, an increase of ₪13,834,667.73 over 64 years. The shekel had an average inflation rate of 20.32% per year between 1960 and today, producing a cumulative price increase of 13,834,667.73%.

This means that today's prices are 138,347.68 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 the end of last year is now 3.34%. If this number holds, ₪100 today will be equivalent in buying power to ₪103.34 next year.

 Cumulative price change 13,834,667.73% Average inflation rate 20.32% Converted amount₪100 base ₪13,834,767.73 Price difference₪100 base ₪13,834,667.73 CPI in 1960 0.001 CPI in 2024 114.946 Inflation in 1960 2.23% Inflation in 2024 3.34% ₪100 in 1960 ₪13,834,767.73 in 2024

ILS inflation since 1960
Annual Rate, the OECD and the World Bank CPI

## 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 ₪13,834,767.73 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When ₪100 is equivalent to ₪13,834,767.73 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 64 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:

Shekel inflation: 1960-2024
YearShekel ValueInflation Rate
1960₪100.002.23%
1961₪106.796.79%
1962₪116.849.41%
1963₪124.536.58%
1964₪130.975.17%
1965₪141.067.71%
1966₪152.257.93%
1967₪154.851.71%
1968₪158.072.08%
1969₪161.952.46%
1970₪171.856.11%
1971₪192.4211.97%
1972₪217.2112.88%
1973₪260.7220.03%
1974₪364.1839.68%
1975₪507.3239.31%
1976₪666.1731.31%
1977₪896.7834.62%
1978₪1,350.1150.55%
1979₪2,407.3878.31%
1980₪5,561.64131.03%
1981₪12,057.64116.80%
1982₪26,570.73120.36%
1983₪65,351.11145.95%
1984₪309,251.71373.22%
1985₪1,267,720.64309.93%
1986₪1,874,813.8347.89%
1987₪2,232,430.2819.07%
1988₪2,598,613.8616.40%
1989₪3,127,543.8120.35%
1990₪3,665,040.8917.19%
1991₪4,366,355.5419.14%
1992₪4,891,004.3412.02%
1993₪5,425,287.8510.92%
1994₪6,091,270.0512.28%
1995₪6,696,220.869.93%
1996₪7,460,708.0811.42%
1997₪8,129,901.458.97%
1998₪8,576,387.035.49%
1999₪9,020,731.425.18%
2000₪9,113,884.101.03%
2001₪9,218,813.861.15%
2002₪9,750,956.195.77%
2003₪9,819,482.310.70%
2004₪9,782,007.48-0.38%
2005₪9,910,492.611.31%
2006₪10,114,998.592.06%
2007₪10,161,039.330.46%
2008₪10,623,585.554.55%
2009₪10,980,132.013.36%
2010₪11,275,648.292.69%
2011₪11,668,598.393.48%
2012₪11,864,538.451.68%
2013₪12,050,836.591.57%
2014₪12,108,656.820.48%
2015₪12,035,851.95-0.60%
2016₪11,969,468.21-0.55%
2017₪12,000,518.300.26%
2018₪12,095,814.570.79%
2019₪12,198,600.740.85%
2020₪12,123,653.49-0.61%
2021₪12,306,742.871.51%
2022₪12,847,453.524.39%
2023₪13,465,253.804.81%
2024₪13,834,767.732.74%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 58 more rows

This conversion table shows various other 1960 amounts in today's shekels, based on the 13,834,667.73% change in prices:

Conversion: 1960 shekels today
Initial valueEquivalent value
₪1 shekel in 1960₪138,347.68 shekels today
₪5 shekels in 1960₪691,738.39 shekels today
₪10 shekels in 1960₪1,383,476.77 shekels today
₪50 shekels in 1960₪6,917,383.86 shekels today
₪100 shekels in 1960₪13,834,767.73 shekels today
₪500 shekels in 1960₪69,173,838.64 shekels today
₪1,000 shekels in 1960₪138,347,677.28 shekels today
₪5,000 shekels in 1960₪691,738,386.38 shekels today
₪10,000 shekels in 1960₪1,383,476,772.77 shekels today
₪50,000 shekels in 1960₪6,917,383,863.84 shekels today
₪100,000 shekels in 1960₪13,834,767,727.68 shekels today
₪500,000 shekels in 1960₪69,173,838,638.39 shekels today
₪1,000,000 shekels in 1960₪138,347,677,276.77 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 0.0008308510306209577 in the year 1960 and 114.94631024942346 in 2024:

114.946310249423460.0008308510306209577
×
₪100
=
₪13,834,767.73

₪100 in 1960 has the same "purchasing power" or "buying power" as ₪13,834,767.73 in 2024.

To get the total inflation rate for the 64 years between 1960 and 2024, we use the following formula:

CPI in 2024 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (64 years)

Plugging in the values to this equation, we get:

114.94631024942346 - 0.00083085103062095770.0008308510306209577
×
100
=
13,834,668%

## Data source & citation

You may use the following MLA citation for this page: “Israel Inflation Calculator: World Bank data, 1960-2024 (ILS).” Official Inflation Data, Alioth Finance, 18 May. 2024, https://www.officialdata.org/israel/inflation/.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.