According to the Bureau of Statistics consumer price index, prices in 1996 are 2,282.14% higher than prices in 1924. The dollar experienced an average inflation rate of 4.50% per year during this period.

In other words, AU$100 in 1924 is equivalent in purchasing power to AU$2,382.14 in 1996, a difference of AU$2,282.14 over 72 years.

The 1924 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 | 4.50% |

Converted amount (AU$100 base) | AU$2,382.14 |

Price difference (AU$100 base) | AU$2,282.14 |

CPI in 1924 | 2.800 |

CPI in 1996 | 66.700 |

Inflation in 1924 | 0.00% |

Inflation in 1996 | 2.62% |

This chart shows calculations of buying power equivalence over time for AU$100 in 1924 (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 | AUD Value | Inflation Rate |
---|---|---|

1924 | AU$100.00 | - |

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%* |

This inflation calculator uses the following inflation rate formula:

CPI in 1996CPI in 1924

×

1924 AUD value

=

1996 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1924 and 66.7 in 1996:

66.72.8

×

AU$100

=

AU$100 in 1924 has the same "purchasing power" or "buying power" as AU$2,382.14 in 1996.

To get the total inflation rate for the 72 years between 1924 and 1996, we use the following formula:

CPI in 1996 - CPI in 1924CPI in 1924

×

100

=

Plugging in the values to this equation, we get:

66.7 - 2.82.8

×

100

=

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: “1924 dollars in 1996 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Jan. 2019, https://www.officialdata.org/1924-AUD-in-1996.

in2013dollars.com is a reference website maintained by the Official Data Foundation.