According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.21% per year. Prices in 2017 are 3672.4% higher than prices in 1929.
In other words, AU$100 in the year 1929 is equivalent to AU$3,772.41 in 2017, a difference of AU$3,672.41 over 88 years.
The current inflation rate in 2017 is 0.64%1. If this number holds, AU$100 today will be equivalent to AU$100.64 next year.
|Cumulative price change||3672.41%|
|Average inflation rate||4.21%|
|Price difference (AU$100 base)||AU$3,672.41|
|CPI in 1929||2.9|
|CPI in 2017||109.4|
Politics and news often play an important role in economic performance.
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).