AU$100 in 1924 → AU$2,821.43 in 2003

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1924-2003 (AU$100)

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.32% per year. Prices in 2003 are 2721.4% higher than prices in 1924.

In other words, AU$100 in the year 1924 is equivalent to AU$2,821.43 in 2003, a difference of AU$2,721.43 over 79 years.

The inflation rate in 2003 was 2.73%.

Inflation from 1924 to 2003
Cumulative price change 2721.43%
Average inflation rate 4.32%
Price difference (AU$100 base) AU$2,721.43
CPI in 1924 2.8
CPI in 2003 79


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1924 to 2003

Start with the inflation rate formula:

CPI in 2003 / CPI in 1924 * 1924 AUD value = 2003 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1924 and 79 in 2003:

79 / 2.8 * AU$100 = AU$2,821.43

AU$100 in 1924 has the same "purchasing power" as AU$2,821.43 in 2003.


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).


» Read more about inflation.