AU$100 in 1929 → AU$2,324.14 in 1998

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1929-1998 (AU$100)

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.66% per year. Prices in 1998 are 2224.1% higher than prices in 1929.

In other words, AU$100 in the year 1929 is equivalent to AU$2,324.14 in 1998, a difference of AU$2,224.14 over 69 years.

The inflation rate in 1998 was 0.75%.

Inflation from 1929 to 1998
Cumulative price change 2224.14%
Average inflation rate 4.66%
Price difference (AU$100 base) AU$2,224.14
CPI in 1929 2.9
CPI in 1998 67.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100, 1929 to 1998

Start with the inflation rate formula:

CPI in 1998 / CPI in 1929 * 1929 AUD value = 1998 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1929 and 67.4 in 1998:

67.4 / 2.9 * AU$100 = AU$2,324.14

AU$100 in 1929 has the same "purchasing power" as AU$2,324.14 in 1998.


News headlines from 1929

Politics and news often influence economic performance. Here's what was happening at the time:

  • The World's smallest country, the Vatican City, is made a Roman enclave
  • Seven gangsters are killed in Chicago (allegedly on) Al Capone's orders, the event is now known as St Valentine's Day Massacre.
  • A final solution of a border dispute between Chile and Peru is reached after the signing of the Treaty of Lima.
  • Beginning of the Great Depression with stock market crash known as "Black Thursday"
  • ‘Black Thursday’, leads to the Wall Street crash, the biggest depression in the history of the world.

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: “1929 dollars in 1998 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/1929-AUD-in-1998.


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