Buying power of Rp1,000,000 in 1998

This chart shows a calculation of buying power equivalence for Rp1,000,000 in 1998 (price index tracking began in 1959).

For example, if you started with Rp1,000,000, you would need to end with Rp4,921,618.78 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When Rp1,000,000 is equivalent to Rp4,921,618.78 over time, that means that the "real value" of a single Indonesian ruphia decreases over time. In other words, a ruphia will pay for fewer items at the store.

This effect explains how inflation erodes the value of a ruphia over time. By calculating the value in 1998 dollars, the chart below shows how Rp1,000,000 is worth less over 26 years.

According to the OECD and the World Bank, each of these IDR amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1998 amounts in today's ruphias, based on the 392.16% change in prices:

How to calculate inflation rate for Rp1,000,000 since 1998

Our calculations use the following inflation rate formula to calculate the change in value between 1998 and today:

Then plug in historical CPI values. The Indonesian CPI was 26.63236 in the year 1998 and 131.07432316671134 in 2024:

Rp1,000,000 in 1998 has the same "purchasing power" or "buying power" as Rp4,921,618.78 in 2024.

To get the total inflation rate for the 26 years between 1998 and 2024, we use the following formula:

Plugging in the values to this equation, we get:

Data source & citation

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