The inflation rate in Indonesia between 1983 and today has been 2,166.84%, which translates into a total increase of Rp2,600,213.98. This means that 120,000 rupiahs in 1983 are equivalent to 2,720,213.98 rupiahs in 2024. In other words, the purchasing power of Rp120,000 in 1983 equals Rp2,720,213.98 today. The average annual inflation rate between these periods has been 7.91%.
The following chart depicts the equivalence of Rp120,000 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.
All calculations are performed in the local currency (IDR) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.
The following table contains relevant indicators:
| Indicator | Value |
|---|---|
| Cumulative inflation 1983-2023 | 2,115.63% |
| Cumulative inflation 1983-today | 2,166.84% |
| Avg. Annual inflation 1983-2023 | 8.05% |
| CPI 1983 | 5.77 |
| CPI 2023 | 127.78 |
| CPI 2024-08 (latest official data) | 130.52 |
| CPI today | 130.73 |
There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.
When we have both the start and end years, we can use the following formula:
To obtain the values equivalent in buying power between 1983 and 2023, use the corresponding CPI values:
To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 130.73:
Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:
In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are Rp120,000 worth today. There are 40 years between 1983 and 2023 and the average inflation rate was 8.0531%. Therefore, we can resolve the formula like this:
| Initial Value | Equivalent value | |
|---|---|---|
| Rp1 rupiah in 1983 | → | Rp22.16 rupiahs in 2023 |
| Rp5 rupiahs in 1983 | → | Rp110.78 rupiahs in 2023 |
| Rp10 rupiahs in 1983 | → | Rp221.56 rupiahs in 2023 |
| Rp50 rupiahs in 1983 | → | Rp1,107.81 rupiahs in 2023 |
| Rp100 rupiahs in 1983 | → | Rp2,215.63 rupiahs in 2023 |
| Rp500 rupiahs in 1983 | → | Rp11,078.15 rupiahs in 2023 |
| Rp1,000 rupiahs in 1983 | → | Rp22,156.3 rupiahs in 2023 |
| Rp5,000 rupiahs in 1983 | → | Rp110,781.5 rupiahs in 2023 |
| Rp10,000 rupiahs in 1983 | → | Rp221,562.99 rupiahs in 2023 |
| Rp50,000 rupiahs in 1983 | → | Rp1,107,814.97 rupiahs in 2023 |
| Rp100,000 rupiahs in 1983 | → | Rp2,215,629.95 rupiahs in 2023 |
| Rp500,000 rupiahs in 1983 | → | Rp11,078,149.73 rupiahs in 2023 |
| Rp1,000,000 rupiahs in 1983 | → | Rp22,156,299.45 rupiahs in 2023 |
| Cumulative inflation From 1983 | 2,166.84% |
| Avg. annual inflation From 1983 | 7.91% |
| CPI 1983 | 5.77 |
| CPI today | 130.73 |
| Period | Value |
|---|---|
| 1983 | 120,000 |
| 1984 | 132,546.04 |
| 1985 | 138,808.22 |
| 1986 | 146,890.56 |
| 1987 | 160,520.03 |
| 1988 | 173,434.42 |
| 1989 | 184,561.18 |
| 1990 | 198,992.39 |
| 1991 | 217,735.65 |
| 1992 | 234,117.09 |
| 1993 | 256,760.51 |
| 1994 | 278,667.34 |
| 1995 | 304,918.76 |
| 1996 | 329,230.72 |
| 1997 | 349,729.11 |
| 1998 | 554,149.49 |
| 1999 | 667,627.3 |
| 2000 | 692,253.45 |
| 2001 | 771,863.3 |
| 2002 | 863,716 |
| 2003 | 922,080.06 |
| 2004 | 977,995.51 |
| 2005 | 1,080,227.34 |
| 2006 | 1,221,830.89 |
| 2007 | 1,300,108.23 |
| 2008 | 1,433,066.11 |
| 2009 | 1,495,926.23 |
| 2010 | 1,572,729.99 |
| 2011 | 1,656,966.36 |
| 2012 | 1,727,876.23 |
| 2013 | 1,838,676.33 |
| 2014 | 1,956,258.39 |
| 2015 | 2,080,737.47 |
| 2016 | 2,154,100.11 |
| 2017 | 2,236,145.67 |
| 2018 | 2,307,664.78 |
| 2019 | 2,377,600.45 |
| 2020 | 2,423,247.66 |
| 2021 | 2,461,052.58 |
| 2022 | 2,564,648.34 |
| 2023 | 2,658,755.93 |
| 2024-08 | 2,715,797.27 |
| Today | 2,720,213.98 |
All available years
Today's value of indonesian rupiahs by year:
1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Other currencies: