According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.55% per year. Prices in 2001 are 2,472.41% higher than prices in 1928.

In other words, AU$100 in 1928 is equivalent in purchasing power to AU$2,572.41 in 2001, a difference of AU$2,472.41 over 73 years.

The inflation rate in 2001 was 4.34%.

Cumulative price change | 2472.41% |

Average inflation rate | 4.55% |

Converted amount (AU$100 base) | AU$2,572.41 |

Price difference (AU$100 base) | AU$2,472.41 |

CPI in 1928 | 2.9 |

CPI in 2001 | 74.6 |

This inflation calculator uses the following inflation rate formula:

CPI in 2001 / CPI in 1928 * 1928 AUD value = 2001 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 74.6 in 2001:

74.6 / 2.9 * AU$100 = **AU$2,572.41**

AU$100 in 1928 has the same "purchasing power" or "buying power" as AU$2,572.41 in 2001.

This chart shows calculations of buying power equivalence over time for AU$100 in 1928 (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 |
---|---|---|

1928 | AU$100.00 | 3.57% |

1929 | AU$100.00 | 0.00% |

1930 | AU$93.10 | -6.90% |

1931 | AU$86.21 | -7.41% |

1932 | AU$82.76 | -4.00% |

1933 | AU$79.31 | -4.17% |

1934 | AU$79.31 | 0.00% |

1935 | AU$82.76 | 4.35% |

1936 | AU$82.76 | 0.00% |

1937 | AU$86.21 | 4.17% |

1938 | AU$89.66 | 4.00% |

1939 | AU$89.66 | 0.00% |

1940 | AU$93.10 | 3.85% |

1941 | AU$96.55 | 3.70% |

1942 | AU$106.90 | 10.71% |

1943 | AU$110.34 | 3.23% |

1944 | AU$110.34 | 0.00% |

1945 | AU$110.34 | 0.00% |

1946 | AU$110.34 | 0.00% |

1947 | AU$117.24 | 6.25% |

1948 | AU$127.59 | 8.82% |

1949 | AU$137.93 | 8.11% |

1950 | AU$151.72 | 10.00% |

1951 | AU$179.31 | 18.18% |

1952 | AU$210.34 | 17.31% |

1953 | AU$220.69 | 4.92% |

1954 | AU$224.14 | 1.56% |

1955 | AU$227.59 | 1.54% |

1956 | AU$241.38 | 6.06% |

1957 | AU$248.28 | 2.86% |

1958 | AU$248.28 | 0.00% |

1959 | AU$255.17 | 2.78% |

1960 | AU$265.52 | 4.05% |

1961 | AU$268.97 | 1.30% |

1962 | AU$268.97 | 0.00% |

1963 | AU$272.41 | 1.28% |

1964 | AU$279.31 | 2.53% |

1965 | AU$289.66 | 3.70% |

1966 | AU$296.55 | 2.38% |

1967 | AU$306.90 | 3.49% |

1968 | AU$317.24 | 3.37% |

1969 | AU$327.59 | 3.26% |

1970 | AU$337.93 | 3.16% |

1971 | AU$358.62 | 6.12% |

1972 | AU$379.31 | 5.77% |

1973 | AU$413.79 | 9.09% |

1974 | AU$479.31 | 15.83% |

1975 | AU$551.72 | 15.11% |

1976 | AU$624.14 | 13.13% |

1977 | AU$700.00 | 12.15% |

1978 | AU$755.17 | 7.88% |

1979 | AU$824.14 | 9.13% |

1980 | AU$910.34 | 10.46% |

1981 | AU$996.55 | 9.47% |

1982 | AU$1,106.90 | 11.07% |

1983 | AU$1,220.69 | 10.28% |

1984 | AU$1,268.97 | 3.95% |

1985 | AU$1,351.72 | 6.52% |

1986 | AU$1,475.86 | 9.18% |

1987 | AU$1,600.00 | 8.41% |

1988 | AU$1,717.24 | 7.33% |

1989 | AU$1,844.83 | 7.43% |

1990 | AU$1,982.76 | 7.48% |

1991 | AU$2,044.83 | 3.13% |

1992 | AU$2,065.52 | 1.01% |

1993 | AU$2,100.00 | 1.67% |

1994 | AU$2,141.38 | 1.97% |

1995 | AU$2,241.38 | 4.67% |

1996 | AU$2,300.00 | 2.62% |

1997 | AU$2,306.90 | 0.30% |

1998 | AU$2,324.14 | 0.75% |

1999 | AU$2,358.62 | 1.48% |

2000 | AU$2,465.52 | 4.53% |

2001 | AU$2,572.41 | 4.34%* |

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.

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 2001 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jul. 2018, https://www.officialdata.org/1928-AUD-in-2001.

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