Australia Inflation Calculator
👉 You may be interested in Inflation from 1929 to 2019
Australian Inflation Rate, AU$100 in 1929 to 2018
According to the Bureau of Statistics consumer price index, prices in 2018 are 3,782.76% higher than average prices throughout 1929. The dollar experienced an average inflation rate of 4.20% per year during this period, meaning the real value of a dollar decreased.
In other words, AU$100 in 1929 is equivalent in purchasing power to about AU$3,882.76 in 2018, a difference of AU$3,782.76 over 89 years.
The 1929 inflation rate was 0.00%. The inflation rate in 2018 was 1.26%. The 2018 inflation rate is lower compared to the average inflation rate of 1.90% per year between 2018 and 2019.
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| Cumulative price change | 3,782.76% |
| Average inflation rate | 4.20% |
| Converted amount (AU$100 base) | AU$3,882.76 |
| Price difference (AU$100 base) | AU$3,782.76 |
| CPI in 1929 | 2.900 |
| CPI in 2018 | 112.600 |
| Inflation in 1929 | 0.00% |
| Inflation in 2018 | 1.26% |
Buying power of AU$100 in 1929
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$100 in 1929 (price index tracking began in 1922).
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
How to Calculate Inflation Rate for AU$100, 1929 to 2018
This inflation calculator uses the following inflation rate formula:
CPI in 2018CPI in 1929
×
1929 AUD value
=
2018 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1929 and 112.6 in 2018:
112.62.9
×
AU$100
=
AU$3,882.76
AU$100 in 1929 has the same "purchasing power" or "buying power" as AU$3,882.76 in 2018.
To get the total inflation rate for the 89 years between 1929 and 2018, we use the following formula:
CPI in 2018 - CPI in 1929CPI in 1929
×
100
=
Cumulative inflation rate (89 years)
Plugging in the values to this equation, we get:
112.6 - 2.92.9
×
100
=
3,783%
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 created as an enclave of Rome.
- Seven gangsters are killed in Chicago on Al Capone's orders in an event 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 a Wall Street crash and the biggest depression in the history of the world.
Data Source & Citation
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 2018 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 14 Oct. 2019, https://www.officialdata.org/1929-AUD-in-2018.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | 3,782.76% |
| Average inflation rate | 4.20% |
| Converted amount (AU$100 base) | AU$3,882.76 |
| Price difference (AU$100 base) | AU$3,782.76 |
| CPI in 1929 | 2.900 |
| CPI in 2018 | 112.600 |
| Inflation in 1929 | 0.00% |
| Inflation in 2018 | 1.26% |