New Zealand Inflation Calculator

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Result: $100 in 1961 → $2,284.40 in 2020


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

Updated: September 11, 2020

According to the World Bank consumer price index for New Zealand, today's prices in 2020 are 2,184.40% higher than average prices since 1961. This means that a dollar today only buys 4.38% of what it could buy in 1961. The New Zealand dollar experienced an average inflation rate of 5.45% per year during this period, causing the real value of a dollar to decrease.

In other words, $100 in 1961 is equivalent in purchasing power to about $2,284.40 in 2020, a difference of $2,184.40 over 59 years. This inflation data is collected by the World Bank and is specific to New Zealand.

The 1961 inflation rate was 1.80%. The current year-over-year inflation rate (2019 to 2020) is now 1.62%1. If this number holds, $100 today will be equivalent in buying power to $101.62 next year.


Inflation from 1961 to 2020
Cumulative price change 2,184.40%
Average inflation rate 5.45%
Converted amount ($100 base) $2,284.40
Price difference ($100 base) $2,184.40
CPI in 1961 5.082
CPI in 2020 116.091
Inflation in 1961 1.80%
Inflation in 2020 1.62%

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 $2,284.40 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $2,284.40 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 59 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: 1961-2020
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%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 53 more rows

This conversion table shows various other 1961 amounts in today's dollars, based on the 2,184.40% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
$1 dollar in 1961 $22.84 dollars today
$5 dollars in 1961 $114.22 dollars today
$10 dollars in 1961 $228.44 dollars today
$50 dollars in 1961 $1,142.20 dollars today
$100 dollars in 1961 $2,284.40 dollars today
$500 dollars in 1961 $11,422.01 dollars today
$1,000 dollars in 1961 $22,844.01 dollars today
$5,000 dollars in 1961 $114,220.06 dollars today
$10,000 dollars in 1961 $228,440.12 dollars today
$50,000 dollars in 1961 $1,142,200.60 dollars today
$100,000 dollars in 1961 $2,284,401.20 dollars today
$500,000 dollars in 1961 $11,422,006.02 dollars today
$1,000,000 dollars in 1961 $22,844,012.03 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 116.09119401627056 in 2020:

116.091194016270565.0819091612
×
$100
=
$2,284.40

$100 in 1961 has the same "purchasing power" or "buying power" as $2,284.40 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:

116.09119401627056 - 5.08190916125.0819091612
×
100
=
2,184%

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: “New Zealand Inflation Calculator: World Bank data, 1961-2020 (NZD).” Official Inflation Data, Alioth Finance, 29 Sep. 2020, 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 2020
Cumulative price change 2,184.40%
Average inflation rate 5.45%
Converted amount ($100 base) $2,284.40
Price difference ($100 base) $2,184.40
CPI in 1961 5.082
CPI in 2020 116.091
Inflation in 1961 1.80%
Inflation in 2020 1.62%