Australia Inflation Calculator
Australian Inflation Rate, AU$100 in 1923 to 1996
According to the Bureau of Statistics consumer price index, prices in 1996 are 2,282.14% higher than average prices throughout 1923. The dollar experienced an average inflation rate of 4.44% per year during this period, meaning the real value of a dollar decreased.
In other words, AU$100 in 1923 is equivalent in purchasing power to about AU$2,382.14 in 1996, a difference of AU$2,282.14 over 73 years.
The 1923 inflation rate was 0.00%. The inflation rate in 1996 was 2.62%. The 1996 inflation rate is higher compared to the average inflation rate of 2.39% per year between 1996 and 2019.
⌃
| Cumulative price change | 2,282.14% |
| Average inflation rate | 4.44% |
| Converted amount (AU$100 base) | AU$2,382.14 |
| Price difference (AU$100 base) | AU$2,282.14 |
| CPI in 1923 | 2.800 |
| CPI in 1996 | 66.700 |
| Inflation in 1923 | 0.00% |
| Inflation in 1996 | 2.62% |
Buying power of AU$100 in 1923
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$100 in 1923 (price index tracking began in 1922).
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
| Year | Dollar Value | Inflation Rate |
|---|---|---|
| 1923 | AU$100.00 | - |
| 1924 | AU$100.00 | 0.00% |
| 1925 | AU$100.00 | 0.00% |
| 1926 | AU$103.57 | 3.57% |
| 1927 | AU$100.00 | -3.45% |
| 1928 | AU$103.57 | 3.57% |
| 1929 | AU$103.57 | 0.00% |
| 1930 | AU$96.43 | -6.90% |
| 1931 | AU$89.29 | -7.41% |
| 1932 | AU$85.71 | -4.00% |
| 1933 | AU$82.14 | -4.17% |
| 1934 | AU$82.14 | 0.00% |
| 1935 | AU$85.71 | 4.35% |
| 1936 | AU$85.71 | 0.00% |
| 1937 | AU$89.29 | 4.17% |
| 1938 | AU$92.86 | 4.00% |
| 1939 | AU$92.86 | 0.00% |
| 1940 | AU$96.43 | 3.85% |
| 1941 | AU$100.00 | 3.70% |
| 1942 | AU$110.71 | 10.71% |
| 1943 | AU$114.29 | 3.23% |
| 1944 | AU$114.29 | 0.00% |
| 1945 | AU$114.29 | 0.00% |
| 1946 | AU$114.29 | 0.00% |
| 1947 | AU$121.43 | 6.25% |
| 1948 | AU$132.14 | 8.82% |
| 1949 | AU$142.86 | 8.11% |
| 1950 | AU$157.14 | 10.00% |
| 1951 | AU$185.71 | 18.18% |
| 1952 | AU$217.86 | 17.31% |
| 1953 | AU$228.57 | 4.92% |
| 1954 | AU$232.14 | 1.56% |
| 1955 | AU$235.71 | 1.54% |
| 1956 | AU$250.00 | 6.06% |
| 1957 | AU$257.14 | 2.86% |
| 1958 | AU$257.14 | 0.00% |
| 1959 | AU$264.29 | 2.78% |
| 1960 | AU$275.00 | 4.05% |
| 1961 | AU$278.57 | 1.30% |
| 1962 | AU$278.57 | 0.00% |
| 1963 | AU$282.14 | 1.28% |
| 1964 | AU$289.29 | 2.53% |
| 1965 | AU$300.00 | 3.70% |
| 1966 | AU$307.14 | 2.38% |
| 1967 | AU$317.86 | 3.49% |
| 1968 | AU$328.57 | 3.37% |
| 1969 | AU$339.29 | 3.26% |
| 1970 | AU$350.00 | 3.16% |
| 1971 | AU$371.43 | 6.12% |
| 1972 | AU$392.86 | 5.77% |
| 1973 | AU$428.57 | 9.09% |
| 1974 | AU$496.43 | 15.83% |
| 1975 | AU$571.43 | 15.11% |
| 1976 | AU$646.43 | 13.13% |
| 1977 | AU$725.00 | 12.15% |
| 1978 | AU$782.14 | 7.88% |
| 1979 | AU$853.57 | 9.13% |
| 1980 | AU$942.86 | 10.46% |
| 1981 | AU$1,032.14 | 9.47% |
| 1982 | AU$1,146.43 | 11.07% |
| 1983 | AU$1,264.29 | 10.28% |
| 1984 | AU$1,314.29 | 3.95% |
| 1985 | AU$1,400.00 | 6.52% |
| 1986 | AU$1,528.57 | 9.18% |
| 1987 | AU$1,657.14 | 8.41% |
| 1988 | AU$1,778.57 | 7.33% |
| 1989 | AU$1,910.71 | 7.43% |
| 1990 | AU$2,053.57 | 7.48% |
| 1991 | AU$2,117.86 | 3.13% |
| 1992 | AU$2,139.29 | 1.01% |
| 1993 | AU$2,175.00 | 1.67% |
| 1994 | AU$2,217.86 | 1.97% |
| 1995 | AU$2,321.43 | 4.67% |
| 1996 | AU$2,382.14 | 2.62% |
| 1997 | AU$2,389.29 | 0.30% |
| 1998 | AU$2,407.14 | 0.75% |
| 1999 | AU$2,442.86 | 1.48% |
| 2000 | AU$2,553.57 | 4.53% |
| 2001 | AU$2,664.29 | 4.34% |
| 2002 | AU$2,746.43 | 3.08% |
| 2003 | AU$2,821.43 | 2.73% |
| 2004 | AU$2,885.71 | 2.28% |
| 2005 | AU$2,964.29 | 2.72% |
| 2006 | AU$3,067.86 | 3.49% |
| 2007 | AU$3,139.29 | 2.33% |
| 2008 | AU$3,278.57 | 4.44% |
| 2009 | AU$3,335.71 | 1.74% |
| 2010 | AU$3,432.14 | 2.89% |
| 2011 | AU$3,546.43 | 3.33% |
| 2012 | AU$3,607.14 | 1.71% |
| 2013 | AU$3,696.43 | 2.48% |
| 2014 | AU$3,789.29 | 2.51% |
| 2015 | AU$3,846.43 | 1.51% |
| 2016 | AU$3,896.43 | 1.30% |
| 2017 | AU$3,971.43 | 1.92% |
| 2018 | AU$4,021.43 | 1.26% |
| 2019 | AU$4,097.84 | 1.90%* |
How to Calculate Inflation Rate for AU$100, 1923 to 1996
This inflation calculator uses the following inflation rate formula:
CPI in 1996CPI in 1923
×
1923 AUD value
=
1996 AUD value
Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 66.7 in 1996:
66.72.8
×
AU$100
=
AU$2,382.14
AU$100 in 1923 has the same "purchasing power" or "buying power" as AU$2,382.14 in 1996.
To get the total inflation rate for the 73 years between 1923 and 1996, we use the following formula:
CPI in 1996 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (73 years)
Plugging in the values to this equation, we get:
66.7 - 2.82.8
×
100
=
2,282%
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.
- In Germany, 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions.
Data Source & Citation
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 1996 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 May. 2019, https://www.officialdata.org/1923-AUD-in-1996.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.