**Result:**
$100
in 1961 →
$2,325.74
in 2021

$100 in 1961 is equivalent in purchasing power to about $2,325.74 today, an increase of $2,225.74 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 2,225.74%.

This means that today's prices are 23.26 times higher than average prices since 1961, according to the World Bank consumer price index for New Zealand. A dollar today only buys 4.30% 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 1.71%^{1}.
If this number holds, $100 today will be equivalent in buying power to $101.71 next year.

β

Cumulative price change | 2,225.74% |

Average inflation rate | 5.38% |

Converted amount ($100 base) | $2,325.74 |

Price difference ($100 base) | $2,225.74 |

CPI in 1961 | 5.082 |

CPI in 2021 | 118.192 |

Inflation in 1961 | 1.80% |

Inflation in 2021 | 1.71% |

$100 in 1961 | $2,325.74 in 2021 |

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 $2,325.74 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $2,325.74 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:

This conversion table shows various other 1961 amounts in today's dollars, based on the 2,225.74% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1961 | $23.26 dollars today |

$5 dollars in 1961 | $116.29 dollars today |

$10 dollars in 1961 | $232.57 dollars today |

$50 dollars in 1961 | $1,162.87 dollars today |

$100 dollars in 1961 | $2,325.74 dollars today |

$500 dollars in 1961 | $11,628.70 dollars today |

$1,000 dollars in 1961 | $23,257.39 dollars today |

$5,000 dollars in 1961 | $116,286.96 dollars today |

$10,000 dollars in 1961 | $232,573.93 dollars today |

$50,000 dollars in 1961 | $1,162,869.64 dollars today |

$100,000 dollars in 1961 | $2,325,739.27 dollars today |

$500,000 dollars in 1961 | $11,628,696.37 dollars today |

$1,000,000 dollars in 1961 | $23,257,392.74 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 118.1919572523425 in 2021:

118.19195725234255.0819091612

×

$100

=

$100 in 1961 has the same "purchasing power" or "buying power" as $2,325.74 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

=

Plugging in the values to this equation, we get:

118.1919572523425 - 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, 1961-2021 (NZD).β Official Inflation Data, Alioth Finance, 19 Oct. 2021, https://www.officialdata.org/new-zealand/inflation.

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

Cumulative price change | 2,225.74% |

Average inflation rate | 5.38% |

Converted amount ($100 base) | $2,325.74 |

Price difference ($100 base) | $2,225.74 |

CPI in 1961 | 5.082 |

CPI in 2021 | 118.192 |

Inflation in 1961 | 1.80% |

Inflation in 2021 | 1.71% |

$100 in 1961 | $2,325.74 in 2021 |