AU$100 in 1923 → AU$2,746.43 in 2002

Australia Inflation Calculator


Australian Inflation Rate, 1923-2002 (AU$100)

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.28% per year. Prices in 2002 are 2646.4% higher than prices in 1923.

In other words, AU$100 in the year 1923 is equivalent to AU$2,746.43 in 2002, a difference of AU$2,646.43 over 79 years.

The inflation rate in 2002 was 3.08%.

Inflation from 1923 to 2002
Cumulative price change 2646.43%
Average inflation rate 4.28%
Price difference (AU$100 base) AU$2,646.43
CPI in 1923 2.8
CPI in 2002 76.9

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$100, 1923 to 2002

Start with the inflation rate formula:

CPI in 2002 / CPI in 1923 * 1923 AUD value = 2002 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 76.9 in 2002:

76.9 / 2.8 * AU$100 = AU$2,746.43

AU$100 in 1923 has the same "purchasing power" as AU$2,746.43 in 2002.

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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