AU$100 in 1923 → AU$1,657.14 in 1987

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1923-1987 (AU$100)

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.48% per year. Prices in 1987 are 1557.1% higher than prices in 1923.

In other words, AU$100 in the year 1923 is equivalent to AU$1,657.14 in 1987, a difference of AU$1,557.14 over 64 years.

The inflation rate in 1987 was 8.41%.

Inflation from 1923 to 1987
Cumulative price change 1557.14%
Average inflation rate 4.48%
Price difference (AU$100 base) AU$1,557.14
CPI in 1923 2.8
CPI in 1987 46.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1923 to 1987

Start with the inflation rate formula:

CPI in 1987 / CPI in 1923 * 1923 AUD value = 1987 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 46.4 in 1987:

46.4 / 2.8 * AU$100 = AU$1,657.14

AU$100 in 1923 has the same "purchasing power" as AU$1,657.14 in 1987.


News headlines from 1923

Politics and news often influence economic performance. Here's what was happening at the time:

  • The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
  • The Disney Brothers Cartoon Studio is founded.
  • Lenin's "Political Testament" is issued which calls for Stalin's removal.
  • 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions in Germany.

Inflation Data Source

Raw data for these calculations comes from the government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

You may use the following MLA citation for this page: “1923 dollars in 1987 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/1923-AUD-in-1987.


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