Turkey Inflation Calculator: World Bank data, 1956-2023 (TRY)

Result: ₺100 in 1956 → ₺2,160,039,877.11 in 2023

Why a lira today is worth much less than a lira in 1956

Updated: May 10, 2023

₺100 in 1956 is equivalent in purchasing power to about ₺2,160,039,877.11 today, an increase of ₺2,160,039,777.11 over 67 years. The lira had an average inflation rate of 28.67% per year between 1956 and today, producing a cumulative price increase of 2,160,039,777.11%.

This means that today's prices are 21,600,398.77 times as high as average prices since 1956, according to the OECD and the World Bank consumer price index for Turkey. A lira today only buys 0.000% of what it could buy back then.

The inflation rate in 1956 was 14.52%. The current inflation rate compared to last year is now 43.68%. If this number holds, ₺100 today will be equivalent in buying power to ₺143.68 next year.

Contents

Overview
Buying Power of ₺100
Formulas & How to Calculate
Data Source

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Inflation from 1956 to 2023
Cumulative price change	2,160,039,777.11%
Average inflation rate	28.67%
Converted amount ₺100 base	₺2,160,039,877.11
Price difference ₺100 base	₺2,160,039,777.11
CPI in 1956	0.000
CPI in 2023	475.157
Inflation in 1956	14.52%
Inflation in 2023	43.68%
₺100 in 1956	₺2,160,039,877.11 in 2023

TRY inflation since 1956

Annual Rate, the OECD and the World Bank CPI

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Buying power of ₺100 in 1956

This chart shows a calculation of buying power equivalence for ₺100 in 1956 (price index tracking began in 1955).

For example, if you started with ₺100, you would need to end with ₺2,160,039,877.11 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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When ₺100 is equivalent to ₺2,160,039,877.11 over time, that means that the "real value" of a single Turkish lira decreases over time. In other words, a lira will pay for fewer items at the store.

This effect explains how inflation erodes the value of a lira over time. By calculating the value in 1956 dollars, the chart below shows how ₺100 is worth less over 67 years.

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

Lira inflation: 1956-2023
Year	Lira Value	Inflation Rate
1956	₺100.00	14.52%
1957	₺111.64	11.64%
1958	₺125.47	12.40%
1959	₺158.91	26.65%
1960	₺167.91	5.66%
1961	₺173.24	3.17%
1962	₺179.98	3.89%
1963	₺191.43	6.36%
1964	₺193.57	1.12%
1965	₺202.39	4.56%
1966	₺219.53	8.47%
1967	₺250.21	13.97%
1968	₺265.34	6.05%
1969	₺278.41	4.92%
1970	₺300.47	7.92%
1971	₺357.59	19.01%
1972	₺412.72	15.42%
1973	₺470.25	13.94%
1974	₺582.63	23.90%
1975	₺706.30	21.23%
1976	₺829.59	17.46%
1977	₺1,045.17	25.99%
1978	₺1,692.10	61.90%
1979	₺2,767.31	63.54%
1980	₺5,375.79	94.26%
1981	₺7,397.88	37.61%
1982	₺9,553.44	29.14%
1983	₺12,552.29	31.39%
1984	₺18,626.64	48.39%
1985	₺27,001.50	44.96%
1986	₺36,346.74	34.61%
1987	₺50,469.60	38.86%
1988	₺85,197.51	68.81%
1989	₺139,104.17	63.27%
1990	₺222,989.35	60.30%
1991	₺370,114.53	65.98%
1992	₺629,476.52	70.08%
1993	₺1,045,521.37	66.09%
1994	₺2,145,566.92	105.22%
1995	₺4,057,552.69	89.11%
1996	₺7,320,318.87	80.41%
1997	₺13,591,585.98	85.67%
1998	₺25,095,687.80	84.64%
1999	₺41,374,633.03	64.87%
2000	₺64,095,686.89	54.92%
2001	₺98,963,840.57	54.40%
2002	₺143,462,053.55	44.96%
2003	₺174,453,326.23	21.60%
2004	₺189,453,294.41	8.60%
2005	₺204,948,998.94	8.18%
2006	₺224,618,435.30	9.60%
2007	₺244,286,416.96	8.76%
2008	₺269,800,041.64	10.44%
2009	₺286,665,169.53	6.25%
2010	₺311,222,188.99	8.57%
2011	₺331,364,086.41	6.47%
2012	₺360,827,600.13	8.89%
2013	₺387,864,710.57	7.49%
2014	₺422,208,488.39	8.85%
2015	₺454,595,460.05	7.67%
2016	₺489,940,711.66	7.78%
2017	₺544,541,263.18	11.14%
2018	₺633,478,318.98	16.33%
2019	₺729,620,258.23	15.18%
2020	₺819,210,113.11	12.28%
2021	₺979,746,408.47	19.60%
2022	₺1,688,189,791.79	72.31%
2023	₺2,160,039,877.11	27.95%*

* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

Click to show 61 more rows

This conversion table shows various other 1956 amounts in today's lira, based on the 2,160,039,777.11% change in prices:

Conversion: 1956 lira today
Initial value	Equivalent value
₺1 lira in 1956	₺21,600,398.77 lira today
₺5 lira in 1956	₺108,001,993.86 lira today
₺10 lira in 1956	₺216,003,987.71 lira today
₺50 lira in 1956	₺1,080,019,938.56 lira today
₺100 lira in 1956	₺2,160,039,877.11 lira today
₺500 lira in 1956	₺10,800,199,385.57 lira today
₺1,000 lira in 1956	₺21,600,398,771.14 lira today
₺5,000 lira in 1956	₺108,001,993,855.69 lira today
₺10,000 lira in 1956	₺216,003,987,711.38 lira today
₺50,000 lira in 1956	₺1,080,019,938,556.88 lira today
₺100,000 lira in 1956	₺2,160,039,877,113.76 lira today
₺500,000 lira in 1956	₺10,800,199,385,568.78 lira today
₺1,000,000 lira in 1956	₺21,600,398,771,137.56 lira today

How to calculate inflation rate for ₺100 since 1956

Our calculations use the following inflation rate formula to calculate the change in value between 1956 and today:

CPI today CPI in 1956

1956 TRY value

Today's value

Then plug in historical CPI values. The Turkish CPI was 0.00002199758 in the year 1956 and 475.1565 in 2023:

475.15650.00002199758

₺100

₺2,160,039,877.11

₺100 in 1956 has the same "purchasing power" or "buying power" as ₺2,160,039,877.11 in 2023.

To get the total inflation rate for the 67 years between 1956 and 2023, we use the following formula:

CPI in 2023 - CPI in 1956CPI in 1956

100

Cumulative inflation rate (67 years)

Plugging in the values to this equation, we get:

475.1565 - 0.000021997580.00002199758

100

2,160,039,777%

Data source & citation

You may use the following MLA citation for this page: “Turkey Inflation Calculator: World Bank data, 1956-2023 (TRY).” Official Inflation Data, Alioth Finance, 27 May. 2023, https://www.officialdata.org/turkey/inflation.

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

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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Other resources:

Inflation from 1956 to 2023
Cumulative price change	2,160,039,777.11%
Average inflation rate	28.67%
Converted amount ₺100 base	₺2,160,039,877.11
Price difference ₺100 base	₺2,160,039,777.11
CPI in 1956	0.000
CPI in 2023	475.157
Inflation in 1956	14.52%
Inflation in 2023	43.68%
₺100 in 1956	₺2,160,039,877.11 in 2023