AU$100 in 1923 → AU$1,910.71 in 1989

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1923-1989 (AU$100)

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.57% per year. Prices in 1989 are 1810.7% higher than prices in 1923.

In other words, AU$100 in the year 1923 is equivalent to AU$1,910.71 in 1989, a difference of AU$1,810.71 over 66 years.

The inflation rate in 1989 was 7.43%.

Inflation from 1923 to 1989
Cumulative price change 1810.71%
Average inflation rate 4.57%
Price difference (AU$100 base) AU$1,810.71
CPI in 1923 2.8
CPI in 1989 53.5


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1923 to 1989

Start with the inflation rate formula:

CPI in 1989 / CPI in 1923 * 1923 AUD value = 1989 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 53.5 in 1989:

53.5 / 2.8 * AU$100 = AU$1,910.71

The "purchasing power" of AU$100 from 1923 is AU$1,910.71 in 1989.


News headlines from 1923

Politics and news often play an important role in economic performance.

  • 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: 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).


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