# New Zealand Inflation Calculator

\$

Result: \$100 in 1916 → \$29,124.95 in 2021

## The New Zealand dollar has lost 99.657% of its value since 1916

Updated: June 10, 2022

\$100 in 1916 is equivalent in purchasing power to about \$29,124.95 today, an increase of \$29,024.95 over 105 years. The dollar had an average inflation rate of 5.55% per year between 1916 and today, producing a cumulative price increase of 29,024.95%.

This means that today's prices are 291.25 times higher than average prices since 1916, according to the OECD and the World Bank consumer price index for New Zealand. A dollar today only buys 0.343% of what it could buy back then.

The inflation rate in 1916 was 7.95%. The current inflation rate compared to last year is now 6.93%. If this number holds, \$100 today will be equivalent in buying power to \$106.93 next year.

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 Cumulative price change 29,024.95% Average inflation rate 5.55% Converted amount (\$100 base) \$29,124.95 Price difference (\$100 base) \$29,024.95 CPI in 1916 0.384 CPI in 2021 111.891 Inflation in 1916 7.95% Inflation in 2021 6.93% \$100 in 1916 \$29,124.95 in 2021

NZD inflation since 1916
Annual Rate, the OECD and the World Bank CPI

## Buying power of \$100 in 1916

This chart shows a calculation of buying power equivalence for \$100 in 1916 (price index tracking began in 1915).

For example, if you started with \$100, you would need to end with \$29,124.95 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$29,124.95 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 1916 dollars, the chart below shows how \$100 is worth less over 105 years.

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

Dollar inflation: 1916-2021
Year Dollar Value Inflation Rate
1916 \$100.00 7.95%
1917 \$109.76 9.76%
1918 \$123.29 12.32%
1919 \$265.24 115.14%
1920 \$301.46 13.65%
1921 \$311.39 3.29%
1922 \$277.40 -10.92%
1923 \$270.12 -2.62%
1924 \$275.94 2.16%
1925 \$416.35 50.88%
1926 \$557.71 33.95%
1927 \$553.17 -0.81%
1928 \$553.60 0.08%
1929 \$552.03 -0.28%
1930 \$541.08 -1.98%
1931 \$499.08 -7.76%
1932 \$460.10 -7.81%
1933 \$439.17 -4.55%
1934 \$445.23 1.38%
1935 \$461.89 3.74%
1936 \$474.98 2.83%
1937 \$508.30 7.02%
1938 \$523.18 2.93%
1939 \$547.14 4.58%
1940 \$569.86 4.15%
1941 \$591.07 3.72%
1942 \$610.35 3.26%
1943 \$625.22 2.44%
1944 \$636.10 1.74%
1945 \$644.78 1.36%
1946 \$649.73 0.77%
1947 \$671.08 3.29%
1948 \$723.55 7.82%
1949 \$735.53 1.66%
1950 \$777.47 5.70%
1951 \$863.17 11.02%
1952 \$930.08 7.75%
1953 \$972.20 4.53%
1954 \$1,017.06 4.61%
1955 \$1,042.58 2.51%
1956 \$1,078.93 3.49%
1957 \$1,102.40 2.17%
1958 \$1,151.41 4.45%
1959 \$1,195.48 3.83%
1960 \$1,203.82 0.70%
1961 \$1,225.46 1.80%
1962 \$1,258.32 2.68%
1963 \$1,283.09 1.97%
1964 \$1,327.67 3.47%
1965 \$1,372.78 3.40%
1966 \$1,410.61 2.76%
1967 \$1,496.04 6.06%
1968 \$1,560.55 4.31%
1969 \$1,637.41 4.93%
1970 \$1,744.13 6.52%
1971 \$1,925.30 10.39%
1972 \$2,058.78 6.93%
1973 \$2,226.91 8.17%
1974 \$2,474.31 11.11%
1975 \$2,837.66 14.68%
1976 \$3,317.42 16.91%
1977 \$3,794.58 14.38%
1978 \$4,248.28 11.96%
1979 \$4,830.28 13.70%
1980 \$5,658.70 17.15%
1981 \$6,528.45 15.37%
1982 \$7,583.69 16.16%
1983 \$8,140.42 7.34%
1984 \$8,642.78 6.17%
1985 \$9,975.30 15.42%
1986 \$11,293.37 13.21%
1987 \$13,071.43 15.74%
1988 \$13,904.77 6.38%
1989 \$14,699.57 5.72%
1990 \$15,596.01 6.10%
1991 \$16,001.88 2.60%
1992 \$16,164.23 1.01%
1993 \$16,372.46 1.29%
1994 \$16,658.22 1.75%
1995 \$17,283.72 3.75%
1996 \$17,678.78 2.29%
1997 \$17,888.65 1.19%
1998 \$18,114.99 1.27%
1999 \$18,094.29 -0.11%
2000 \$18,567.50 2.62%
2001 \$19,055.05 2.63%
2002 \$19,565.17 2.68%
2003 \$19,908.26 1.75%
2004 \$20,364.21 2.29%
2005 \$20,982.67 3.04%
2006 \$21,688.82 3.37%
2007 \$22,204.18 2.38%
2008 \$23,083.23 3.96%
2009 \$23,571.59 2.12%
2010 \$24,114.22 2.30%
2011 \$25,085.52 4.03%
2012 \$25,351.40 1.06%
2013 \$25,638.99 1.13%
2014 \$25,953.71 1.23%
2015 \$26,029.68 0.29%
2016 \$26,197.89 0.65%
2017 \$26,682.77 1.85%
2018 \$27,109.24 1.60%
2019 \$27,548.31 1.62%
2020 \$28,020.64 1.71%
2021 \$29,124.95 3.94%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 99 more rows

This conversion table shows various other 1916 amounts in today's dollars, based on the 29,024.95% change in prices:

Conversion: 1916 dollars today
Initial value Equivalent value
\$1 dollar in 1916 \$291.25 dollars today
\$5 dollars in 1916 \$1,456.25 dollars today
\$10 dollars in 1916 \$2,912.49 dollars today
\$50 dollars in 1916 \$14,562.47 dollars today
\$100 dollars in 1916 \$29,124.95 dollars today
\$500 dollars in 1916 \$145,624.75 dollars today
\$1,000 dollars in 1916 \$291,249.50 dollars today
\$5,000 dollars in 1916 \$1,456,247.49 dollars today
\$10,000 dollars in 1916 \$2,912,494.98 dollars today
\$50,000 dollars in 1916 \$14,562,474.88 dollars today
\$100,000 dollars in 1916 \$29,124,949.76 dollars today
\$500,000 dollars in 1916 \$145,624,748.81 dollars today
\$1,000,000 dollars in 1916 \$291,249,497.63 dollars today

## How to calculate inflation rate for \$100 since 1916

Our calculations use the following inflation rate formula to calculate the change in value between 1916 and today:

CPI today CPI in 1916
×
1916 NZD value
=
Today's value

Then plug in historical CPI values. The New Zealand CPI was 0.3841768 in the year 1916 and 111.8913 in 2021:

111.89130.3841768
×
\$100
=
\$29,124.95

\$100 in 1916 has the same "purchasing power" or "buying power" as \$29,124.95 in 2021.

To get the total inflation rate for the 105 years between 1916 and 2021, we use the following formula:

CPI in 2021 - CPI in 1916CPI in 1916
×
100
=
Cumulative inflation rate (105 years)

Plugging in the values to this equation, we get:

111.8913 - 0.38417680.3841768
×
100
=
29,025%

## Data source & citation

You may use the following MLA citation for this page: βNew Zealand Inflation Calculator: World Bank data, 1916-2021 (NZD).β Official Inflation Data, Alioth Finance, 3 Jul. 2022, https://www.officialdata.org/new-zealand/inflation.

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