New Zealand Inflation Calculator

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Result: $100 in 1961 → $2,321.40 in 2021


Why a dollar today is worth only 4% of a dollar in 1961

Updated: April 13, 2021

$100 in 1961 is equivalent in purchasing power to about $2,321.40 today, an increase of $2,221.40 over 60 years. The dollar had an average inflation rate of 5.38% per year between 1961 and today, producing a cumulative price increase of 2,221.40%.

This means that today's prices are 23.21 times higher than average prices since 1961, according to the World Bank consumer price index for New Zealand. A dollar today only buys 4.31% of what it could buy back then.

The 1961 inflation rate was 1.80%. The current year-over-year inflation rate (2020 to 2021) is now 1.62%1. If this number holds, $100 today will be equivalent in buying power to $101.62 next year.

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Inflation from 1961 to 2021
Cumulative price change 2,221.40%
Average inflation rate 5.38%
Converted amount ($100 base) $2,321.40
Price difference ($100 base) $2,221.40
CPI in 1961 5.082
CPI in 2021 117.971
Inflation in 1961 1.80%
Inflation in 2021 1.62%
$100 in 1961 $2,321.40 in 2021

NZD Inflation since 1960
Annual Rate, the World Bank CPI
Download

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 $2,321.40 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $2,321.40 over time, that means that the "real value" of a single New Zealand dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1961 dollars, the chart below shows how $100 is worth less over 60 years.

According to the World Bank, each of these NZD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1961-2021
Year Dollar Value Inflation Rate
1961 $100.00 1.80%
1962 $102.68 2.68%
1963 $104.70 1.97%
1964 $108.34 3.47%
1965 $112.02 3.40%
1966 $115.11 2.76%
1967 $122.08 6.06%
1968 $127.34 4.31%
1969 $133.62 4.93%
1970 $142.32 6.52%
1971 $157.11 10.39%
1972 $168.00 6.93%
1973 $181.72 8.17%
1974 $201.91 11.11%
1975 $231.56 14.68%
1976 $270.71 16.91%
1977 $309.64 14.38%
1978 $346.67 11.96%
1979 $394.16 13.70%
1980 $461.76 17.15%
1981 $532.73 15.37%
1982 $618.84 16.16%
1983 $664.27 7.34%
1984 $705.27 6.17%
1985 $814.00 15.42%
1986 $921.56 13.21%
1987 $1,066.65 15.74%
1988 $1,134.65 6.38%
1989 $1,199.51 5.72%
1990 $1,272.66 6.10%
1991 $1,305.78 2.60%
1992 $1,319.03 1.01%
1993 $1,336.02 1.29%
1994 $1,359.34 1.75%
1995 $1,410.38 3.75%
1996 $1,442.62 2.29%
1997 $1,459.75 1.19%
1998 $1,478.22 1.27%
1999 $1,476.53 -0.11%
2000 $1,515.14 2.62%
2001 $1,554.93 2.63%
2002 $1,596.55 2.68%
2003 $1,624.55 1.75%
2004 $1,661.76 2.29%
2005 $1,712.22 3.04%
2006 $1,769.85 3.37%
2007 $1,811.90 2.38%
2008 $1,883.63 3.96%
2009 $1,923.49 2.12%
2010 $1,967.76 2.30%
2011 $2,047.02 4.03%
2012 $2,068.72 1.06%
2013 $2,092.19 1.13%
2014 $2,117.87 1.23%
2015 $2,124.07 0.29%
2016 $2,137.80 0.65%
2017 $2,177.36 1.85%
2018 $2,212.16 1.60%
2019 $2,247.99 1.62%
2020 $2,284.40 1.62%
2021 $2,321.40 1.62%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 54 more rows

This conversion table shows various other 1961 amounts in today's dollars, based on the 2,221.40% change in prices:

Conversion: 1961 dollars today
Initial value Equivalent value
$1 dollar in 1961 $23.21 dollars today
$5 dollars in 1961 $116.07 dollars today
$10 dollars in 1961 $232.14 dollars today
$50 dollars in 1961 $1,160.70 dollars today
$100 dollars in 1961 $2,321.40 dollars today
$500 dollars in 1961 $11,607.00 dollars today
$1,000 dollars in 1961 $23,214.00 dollars today
$5,000 dollars in 1961 $116,070.00 dollars today
$10,000 dollars in 1961 $232,140.01 dollars today
$50,000 dollars in 1961 $1,160,700.05 dollars today
$100,000 dollars in 1961 $2,321,400.09 dollars today
$500,000 dollars in 1961 $11,607,000.47 dollars today
$1,000,000 dollars in 1961 $23,214,000.94 dollars 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 NZD value
=
Today's value

Then plug in historical CPI values. The New Zealand CPI was 5.0819091612 in the year 1961 and 117.9714440297662 in 2021:

117.97144402976625.0819091612
×
$100
=
$2,321.40

$100 in 1961 has the same "purchasing power" or "buying power" as $2,321.40 in 2021.

To get the total inflation rate for the 60 years between 1961 and 2021, we use the following formula:

CPI in 2021 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (60 years)

Plugging in the values to this equation, we get:

117.9714440297662 - 5.08190916125.0819091612
×
100
=
2,221%

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: β€œNew Zealand Inflation Calculator: World Bank data, 1961-2021 (NZD).” Official Inflation Data, Alioth Finance, 18 Apr. 2021, https://www.officialdata.org/new-zealand/inflation.

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


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1961 to 2021
Cumulative price change 2,221.40%
Average inflation rate 5.38%
Converted amount ($100 base) $2,321.40
Price difference ($100 base) $2,221.40
CPI in 1961 5.082
CPI in 2021 117.971
Inflation in 1961 1.80%
Inflation in 2021 1.62%
$100 in 1961 $2,321.40 in 2021