Australia Inflation Calculator
Australian Inflation Rate, 1928-2017 (AU$100)
According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.16% per year. Prices in 2017 are 3672.4% higher than prices in 1928.
In other words, AU$100 in the year 1928 is equivalent in purchasing power to AU$3,772.41 in 2017, a difference of AU$3,672.41 over 89 years.
The inflation rate in 2017 was 0.64%.
| Cumulative price change | 3672.41% |
| Average inflation rate | 4.16% |
| Price difference (AU$100 base) | AU$3,672.41 |
| CPI in 1928 | 2.9 |
| CPI in 2017 | 109.4 |
How to calculate the inflation rate for AU$100, 1928 to 2017
Start with the inflation rate formula:CPI in 2017 / CPI in 1928 * 1928 AUD value = 2017 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 109.4 in 2017:
109.4 / 2.9 * AU$100 = AU$3,772.41
AU$100 in 1928 has the same "purchasing power" as AU$3,772.41 in 2017.
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 2017 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018, http://www.in2013dollars.com/1928-AUD-in-2017.