AU$100 in 1928 → AU$2,724.14 in 2003

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1928-2003 (AU$100)

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.50% per year. Prices in 2003 are 2624.1% higher than prices in 1928.

In other words, AU$100 in the year 1928 is equivalent to AU$2,724.14 in 2003, a difference of AU$2,624.14 over 75 years.

The inflation rate in 2003 was 2.73%.

Inflation from 1928 to 2003
Cumulative price change 2624.14%
Average inflation rate 4.50%
Price difference (AU$100 base) AU$2,624.14
CPI in 1928 2.9
CPI in 2003 79


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1928 to 2003

Start with the inflation rate formula:

CPI in 2003 / CPI in 1928 * 1928 AUD value = 2003 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 79 in 2003:

79 / 2.9 * AU$100 = AU$2,724.14

AU$100 in 1928 has the same "purchasing power" as AU$2,724.14 in 2003.


News headlines from 1928

Politics and news often play an important role in economic performance.

  • 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: 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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