**Result:**
$100
in 1961 →
$2,284.40
in 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.

β

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% |

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:

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

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 |

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

=

$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

=

Plugging in the values to this equation, we get:

116.09119401627056 - 5.08190916125.0819091612

×

100

=

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.

You may use the following MLA citation for this page: βNew Zealand Inflation Calculator: World Bank data, 1961-2020 (NZD).β Official Inflation Data, Alioth Finance, 12 Nov. 2020, https://www.officialdata.org/new-zealand/inflation.

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

in2013dollars.com is a reference website maintained by the Official Data Foundation.

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% |