Australia Inflation Calculator
Australian Inflation Rate, 1928-1996 (AU$100)
According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.72% per year. Prices in 1996 are 2200.0% higher than prices in 1928.
In other words, AU$100 in the year 1928 is equivalent in purchasing power to AU$2,300 in 1996, a difference of AU$2,200.00 over 68 years.
The inflation rate in 1996 was 2.62%.
| Cumulative price change | 2200.00% |
| Average inflation rate | 4.72% |
| Price difference (AU$100 base) | AU$2,200.00 |
| CPI in 1928 | 2.9 |
| CPI in 1996 | 66.7 |
How to calculate the inflation rate for AU$100, 1928 to 1996
Start with the inflation rate formula:CPI in 1996 / CPI in 1928 * 1928 AUD value = 1996 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 66.7 in 1996:
66.7 / 2.9 * AU$100 = AU$2,300
AU$100 in 1928 has the same "purchasing power" as AU$2,300 in 1996.
News headlines from 1928
Politics and news often influence economic performance. Here's what was happening at the time:
- Amelia Earhart becomes the first woman to fly across the Atlantic Ocean.
- Jawaharlal Nehru requests Indian independence.
- Alexander Fleming, a Scottish bacteriologist, accidentally discovers penicillin while studying influenza.
Inflation Data Source
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: “1928 dollars in 1996 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 25 Apr. 2018, http://www.in2013dollars.com/1928-AUD-in-1996.