AU$100 in 1928 → AU$3,840.32 in 2018

Australia Inflation Calculator


Australian Inflation Rate, 1928-2018 (AU$100)

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.14% per year. Prices in 2018 are 3740.3% higher than prices in 1928.

In other words, AU$100 in the year 1928 is equivalent in purchasing power to AU$3,840.32 in 2018, a difference of AU$3,740.32 over 90 years.

The current inflation rate in 2018 is 1.80%1. If this number holds, AU$100 today will be equivalent to AU$101.80 next year.

Inflation from 1928 to 2018
Cumulative price change 3740.32%
Average inflation rate 4.14%
Price difference (AU$100 base) AU$3,740.32
CPI in 1928 2.9
CPI in 2018 111.3692

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$100 since 1928

Start with the inflation rate formula:

CPI in 2018 / CPI in 1928 * 1928 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 111.3692 in 2018:

111.3692 / 2.9 * AU$100 = AU$3,840.32

AU$100 in 1928 has the same "purchasing power" as AU$3,840.32 in 2018.

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 2018 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018,

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