ZAR Inflation Calculator - South African Rand (1957-2024)

This tool is useful to calculate the time value of money based on historical inflation and CPI values. To start, select an amount and two years, or browse the default calculation results.

R100 in 1957

R11,660.29 in 2023

The inflation rate in South Africa between 1957 and 2023 was 11,560.29%, which translates into a total increase of R11,560.29. This means that 100 rand in 1957 are equivalent to 11,660.29 rand in 2023. In other words, the purchasing power of R100 in 1957 equals R11,660.29 in 2023. The average annual inflation rate between these periods was 7.48%.

Inflation timeline in South Africa (1957 - 2023)

The following chart depicts the equivalence of R100 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 (ZAR) 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.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation from 1957 to 2023	11,560.29%
Avg. Annual inflation from 1957 to 2023	7.48%
CPI 1957	1.28
CPI 2023	149.54

How to calculate the time value of money with inflation data?

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.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 1957 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₁₉₅₇ ×

CPI₂₀₂₃/CPI₁₉₅₇

=R 100 ×

149.54/1.28

≈R11,660.29

Alternative: Using the compound interest formula

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:

FV: Future Value
PV: Present Value
i: Interest rate (inflation)
n: Number of times the interest is compounded (i.e. # of years)

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 R100 worth today. There are 66 years between 1957 and 2023 and the average inflation rate was 7.4766%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=R100 × (1 + 0.074766)⁶⁶