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AU$100 in 1923 → AU$2,382.14 in 1996

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AU$100 in 1923 → AU$2,382.14 in 1996

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.

⌃
Inflation from 1923 to 1996
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%

AUD inflation chart from 1922 to 2017

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).

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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%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
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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, 12 Nov. 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.

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1923 to 1996
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%
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