20141208 - Referential NZD based on CPI (2013e)
| [Technology] | [<Normal page] [PEREZGONZALEZ Jose D (2013). Referential NZD based on CPI (2013e)3. Knowledge (ISSN 2324-1624), 2014, pages 15-19.] [DOI] |
Referential NZD
Referential New Zealand dollars (rNZD, r$) is the real value of the New Zealand dollar (NZD, $) back in 2010, which is used here as referential currency for better understanding the value of money overtime. The referential dollar is based on the average annual CPI for all groups (estimated from quarter inflation index values provided by the Reserve Bank of New Zealand2). It is calculated by updating the nominal value of the dollar with the appropriate multiplier. The formula for transforming NZD into rNZD follows, while Table 1 provides the correct multiplier (an inflator/deflator multiplier) for the formula.
| Formula |
|---|
| rNZD = nominal NZD + (nominal NZD * multiplier) |
| Table 1. CPI for New Zealand and rNZD multiplier | ||||
|---|---|---|---|---|
| Year | CPI A.Avg | Base 2010 | multiplier | |
| 1900 | 13.3 | 1111.0 | 82.8491 | |
| 1901 | 13.7 | 1111.0 | 80.3919 | |
| 1902 | 14.0 | 1111.0 | 78.2157 | |
| 1903 | 14.1 | 1111.0 | 77.7943 | |
| 1904 | 14.0 | 1111.0 | 78.2157 | |
| 1905 | 14.4 | 1111.0 | 76.0191 | |
| 1906 | 14.9 | 1111.0 | 73.4389 | |
| 1907 | 14.9 | 1111.0 | 73.4389 | |
| 1908 | 14.9 | 1111.0 | 73.5638 | |
| 1909 | 14.7 | 1111.0 | 74.4499 | |
| 1910 | 14.8 | 1111.0 | 74.0676 | |
| 1911 | 14.8 | 1111.0 | 74.3220 | |
| 1912 | 15.0 | 1111.0 | 73.0667 | |
| 1913 | 15.4 | 1111.0 | 71.1429 | |
| 1914 | 15.9 | 1111.0 | 68.7645 | |
| 1915 | 17.0 | 1111.0 | 64.5457 | |
| 1916 | 18.3 | 1111.0 | 59.8767 | |
| 1917 | 20.0 | 1111.0 | 54.5500 | |
| 1918 | 22.4 | 1111.0 | 48.5982 | |
| 1919 | 24.8 | 1111.0 | 43.8436 | |
| 1920 | 28.1 | 1111.0 | 38.5022 | |
| 1921 | 28.3 | 1111.0 | 38.2233 | |
| 1922 | 25.4 | 1111.0 | 42.8264 | |
| 1923 | 25.0 | 1111.0 | 43.4845 | |
| 1924 | 25.4 | 1111.0 | 42.7833 | |
| 1925 | 25.5 | 1111.0 | 42.5260 | |
| 1926 | 25.7 | 1111.0 | 42.2296 | |
| 1927 | 25.5 | 1111.0 | 42.6114 | |
| 1928 | 25.6 | 1111.0 | 42.4834 | |
| 1929 | 25.5 | 1111.0 | 42.6542 | |
| 1930 | 24.9 | 1111.0 | 43.5737 | |
| 1931 | 23.0 | 1111.0 | 47.3043 | |
| 1932 | 21.2 | 1111.0 | 51.4057 | |
| 1933 | 20.2 | 1111.0 | 53.9320 | |
| 1934 | 20.5 | 1111.0 | 53.1291 | |
| 1935 | 21.3 | 1111.0 | 51.1596 | |
| 1936 | 21.9 | 1111.0 | 49.7886 | |
| 1937 | 23.4 | 1111.0 | 46.4786 | |
| 1938 | 24.1 | 1111.0 | 45.0996 | |
| 1939 | 25.2 | 1111.0 | 43.0436 | |
| 1940 | 26.3 | 1111.0 | 41.2835 | |
| 1941 | 27.2 | 1111.0 | 39.8081 | |
| 1942 | 28.1 | 1111.0 | 38.5022 | |
| 1943 | 28.8 | 1111.0 | 37.5429 | |
| 1944 | 29.3 | 1111.0 | 36.8858 | |
| 1945 | 29.7 | 1111.0 | 36.4074 | |
| 1946 | 30.0 | 1111.0 | 36.0952 | |
| 1947 | 30.9 | 1111.0 | 34.9256 | |
| 1948 | 33.3 | 1111.0 | 32.3383 | |
| 1949 | 33.9 | 1111.0 | 31.7729 | |
| 1950 | 35.8 | 1111.0 | 30.0119 | |
| 1951 | 39.8 | 1111.0 | 26.9146 | |
| 1952 | 42.9 | 1111.0 | 24.9125 | |
| 1953 | 44.8 | 1111.0 | 23.8130 | |
| 1954 | 46.9 | 1111.0 | 22.7140 | |
| 1955 | 48.1 | 1111.0 | 22.1217 | |
| 1956 | 49.7 | 1111.0 | 21.3429 | |
| 1957 | 50.8 | 1111.0 | 20.8808 | |
| 1958 | 53.1 | 1111.0 | 19.9425 | |
| 1959 | 55.1 | 1111.0 | 19.1633 | |
| 1960 | 55.5 | 1111.0 | 19.0361 | |
| 1961 | 56.5 | 1111.0 | 18.6724 | |
| 1962 | 58.0 | 1111.0 | 18.1717 | |
| 1963 | 59.1 | 1111.0 | 17.7907 | |
| 1964 | 61.2 | 1111.0 | 17.1610 | |
| 1965 | 63.3 | 1111.0 | 16.5583 | |
| 1966 | 65.0 | 1111.0 | 16.0989 | |
| 1967 | 69.0 | 1111.0 | 15.1131 | |
| 1968 | 71.9 | 1111.0 | 14.4466 | |
| 1969 | 75.5 | 1111.0 | 13.7201 | |
| 1970 | 80.4 | 1111.0 | 12.8227 | |
| 1971 | 88.7 | 1111.0 | 11.5289 | |
| 1972 | 94.9 | 1111.0 | 10.7101 | |
| 1973 | 102.6 | 1111.0 | 9.8285 | |
| 1974 | 114.0 | 1111.0 | 8.7456 | |
| 1975 | 130.8 | 1111.0 | 7.4971 | |
| 1976 | 152.9 | 1111.0 | 6.2686 | |
| 1977 | 174.9 | 1111.0 | 5.3540 | |
| 1978 | 195.8 | 1111.0 | 4.6756 | |
| 1979 | 222.6 | 1111.0 | 3.9916 | |
| 1980 | 260.7 | 1111.0 | 3.2612 | |
| 1981 | 300.8 | 1111.0 | 2.6935 | |
| 1982 | 349.4 | 1111.0 | 2.1800 | |
| 1983 | 375.1 | 1111.0 | 1.9623 | |
| 1984 | 398.2 | 1111.0 | 1.7899 | |
| 1985 | 459.6 | 1111.0 | 1.4173 | |
| 1986 | 520.3 | 1111.0 | 1.1352 | |
| 1987 | 602.2 | 1111.0 | 0.8448 | |
| 1988 | 640.6 | 1111.0 | 0.7342 | |
| 1989 | 677.3 | 1111.0 | 0.6405 | |
| 1990 | 718.6 | 1111.0 | 0.5461 | |
| 1991 | 737.3 | 1111.0 | 0.5070 | |
| 1992 | 744.7 | 1111.0 | 0.4918 | |
| 1993 | 754.3 | 1111.0 | 0.4728 | |
| 1994 | 767.5 | 1111.0 | 0.4476 | |
| 1995 | 796.3 | 1111.0 | 0.3952 | |
| 1996 | 814.5 | 1111.0 | 0.3640 | |
| 1997 | 824.2 | 1111.0 | 0.3480 | |
| 1998 | 834.6 | 1111.0 | 0.3312 | |
| 1999 | 833.7 | 1111.0 | 0.3327 | |
| 2000 | 855.5 | 1111.0 | 0.2987 | |
| 2001 | 877.9 | 1111.0 | 0.2655 | |
| 2002 | 901.4 | 1111.0 | 0.2325 | |
| 2003 | 917.2 | 1111.0 | 0.2113 | |
| 2004 | 938.2 | 1111.0 | 0.1842 | |
| 2005 | 966.7 | 1111.0 | 0.1492 | |
| 2006 | 999.3 | 1111.0 | 0.1118 | |
| 2007 | 1023.0 | 1111.0 | 0.0860 | |
| 2008 | 1063.5 | 1111.0 | 0.0447 | |
| 2009 | 1086.0 | 1111.0 | 0.0230 | |
| 2010 | 1111.0 | 1111.0 | 0.0000 | |
| 2011 | 1155.8 | 1111.0 | -0.0388 | |
| 2012 | 1168.0 | 1111.0 | -0.0488 | |
| 2013 | 1181.3 | 1111.0 | -0.0595 | |
| 2014* | 1216.7 | 1111.0 | -0.0869 | |
| 2015* | 1253.2 | 1111.0 | -0.1135 | |
| 2016* | 1290.8 | 1111.0 | -0.1393 | |
| 2017* | 1329.6 | 1111.0 | -0.1644 | |
| 2018* | 1369.5 | 1111.0 | -0.1887 | |
| 2019* | 1410.5 | 1111.0 | -0.2124 | |
| 2020* | 1452.8 | 1111.0 | -0.2353 | |
| 2021* | 1496.4 | 1111.0 | -0.2576 | |
| (*Assuming a 3% accumulated inflation rate.) | ||||
References
1. PEREZGONZALEZ Jose D (2012). Referential NZD based on CPI (2012e). Knowledge (ISSN 2324-1624), 2013, pages 69-73, doi:10.6084/m9.figshare.706828
2. RESERVE BANK OF NEW ZEALAND (2013). New Zealand inflation calculator. Retrieved from the Reserve Bank of New Zealand on 12 December 2014.
+++ Footnotes +++
3. The 2013 edition updates the 2012 edition1 with the official CPI values for that year.
Want to know more?
- MeasuringWorth
- A handy website to learn about different inflation indexes and calculate the value of money according to those indexes.
- New Zealand inflation calculator
- A handy calculator for estimating the cost of money over time. It allows for calculating inflation per quarter. If you use 2010 as base year, you could interpret the result as referential New Zealand dollars (rNZD, r$).
- WikiofScience - Referential currency (list of topics)
- This Wiki of Science page provides a list of topics related to referential currencies.
Author
Jose D PEREZGONZALEZ (2014). Massey University, Turitea Campus, Private Bag 11-222, Palmerston North 4442, New Zealand. (JDPerezgonzalez).
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page revision: 1, last edited: 18 Dec 2014 23:15
