Result: ₺100 in 1956 → ₺4,508,356,530.85 in 2024
Why a lira today is worth much less than a lira in 1956
Updated: November 13, 2024₺100 in 1956 is equivalent in purchasing power to about ₺4,508,356,530.85 today, an increase of ₺4,508,356,430.85 over 68 years. The lira had an average inflation rate of 29.59% per year between 1956 and today, producing a cumulative price increase of 4,508,356,430.85%.
This means that today's prices are 45,083,565.31 times as high as average prices since 1956, according to the OECD and the World Bank consumer price index for Turkey. A lira today only buys 0.000% of what it could buy back then.
The inflation rate in 1956 was 14.52%. The current inflation rate compared to the end of last year is now 74.63%. If this number holds, ₺100 today will be equivalent in buying power to ₺174.63 next year.
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| Cumulative price change | 4,508,356,430.85% |
| Average inflation rate | 29.59% |
| Converted amount ₺100 base | ₺4,508,356,530.85 |
| Price difference ₺100 base | ₺4,508,356,430.85 |
| CPI in 1956 | 0.000 |
| CPI in 2024 | 991.729 |
| Inflation in 1956 | 14.52% |
| Inflation in 2024 | 74.63% |
| ₺100 in 1956 | ₺4,508,356,530.85 in 2024 |
Buying power of ₺100 in 1956
This chart shows a calculation of buying power equivalence for ₺100 in 1956 (price index tracking began in 1955).
For example, if you started with ₺100, you would need to end with ₺4,508,356,530.85 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₺100 is equivalent to ₺4,508,356,530.85 over time, that means that the "real value" of a single Turkish lira decreases over time. In other words, a lira will pay for fewer items at the store.
This effect explains how inflation erodes the value of a lira over time. By calculating the value in 1956 dollars, the chart below shows how ₺100 is worth less over 68 years.
According to the OECD and the World Bank, each of these TRY amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1956 amounts in today's lira, based on the 4,508,356,430.85% change in prices:
| Initial value | Equivalent value |
|---|---|
| ₺1 lira in 1956 | ₺45,083,565.31 lira today |
| ₺5 lira in 1956 | ₺225,417,826.54 lira today |
| ₺10 lira in 1956 | ₺450,835,653.09 lira today |
| ₺50 lira in 1956 | ₺2,254,178,265.43 lira today |
| ₺100 lira in 1956 | ₺4,508,356,530.85 lira today |
| ₺500 lira in 1956 | ₺22,541,782,654.26 lira today |
| ₺1,000 lira in 1956 | ₺45,083,565,308.52 lira today |
| ₺5,000 lira in 1956 | ₺225,417,826,542.60 lira today |
| ₺10,000 lira in 1956 | ₺450,835,653,085.20 lira today |
| ₺50,000 lira in 1956 | ₺2,254,178,265,426.01 lira today |
| ₺100,000 lira in 1956 | ₺4,508,356,530,852.01 lira today |
| ₺500,000 lira in 1956 | ₺22,541,782,654,260.05 lira today |
| ₺1,000,000 lira in 1956 | ₺45,083,565,308,520.10 lira today |
How to calculate inflation rate for ₺100 since 1956
Our calculations use the following inflation rate formula to calculate the change in value between 1956 and today:
CPI today CPI in 1956
×
1956 TRY value
=
Today's value
Then plug in historical CPI values. The Turkish CPI was 0.00002199758 in the year 1956 and 991.7293345593956 in 2024:
991.72933455939560.00002199758
×
₺100
=
₺4,508,356,530.85
₺100 in 1956 has the same "purchasing power" or "buying power" as ₺4,508,356,530.85 in 2024.
To get the total inflation rate for the 68 years between 1956 and 2024, we use the following formula:
CPI in 2024 - CPI in 1956CPI in 1956
×
100
=
Cumulative inflation rate (68 years)
Plugging in the values to this equation, we get:
991.7293345593956 - 0.000021997580.00002199758
×
100
=
4,508,356,431%
Data source & citation
You may use the following MLA citation for this page: “Turkey Inflation Calculator: World Bank data, 1956-2024 (TRY).” Official Inflation Data, Alioth Finance, 14 Nov. 2024, https://www.officialdata.org/turkey/inflation.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 4,508,356,430.85% |
| Average inflation rate | 29.59% |
| Converted amount ₺100 base | ₺4,508,356,530.85 |
| Price difference ₺100 base | ₺4,508,356,430.85 |
| CPI in 1956 | 0.000 |
| CPI in 2024 | 991.729 |
| Inflation in 1956 | 14.52% |
| Inflation in 2024 | 74.63% |
| ₺100 in 1956 | ₺4,508,356,530.85 in 2024 |