AU$100 in 1938 → AU$3,038.46 in 2003

Australia Inflation Calculator

AU$

Australian Inflation Rate, AU$100 in 1938 to 2003

According to the Bureau of Statistics consumer price index, prices in 2003 are 2,938.46% higher than prices in 1938. The dollar experienced an average inflation rate of 5.39% per year during this period.

In other words, AU$100 in 1938 is equivalent in purchasing power to AU$3,038.46 in 2003, a difference of AU$2,938.46 over 65 years.

The 1938 inflation rate was 4.00%. The inflation rate in 2003 was 2.73%. The 2003 inflation rate is higher compared to the average inflation rate of 2.34% per year between 2003 and 2018.


Inflation from 1938 to 2003
Cumulative price change 2938.46%
Average inflation rate 5.39%
Converted amount (AU$100 base) AU$3,038.46
Price difference (AU$100 base) AU$2,938.46
CPI in 1938 2.6
CPI in 2003 79
Inflation in 1938 4.00%
Inflation in 2003 2.73%


AUD inflation chart from 1922 to 2017


Buying power of AU$100 since 1938

This chart shows calculations of buying power equivalence over time for AU$100 in 1938 (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:

Year AUD Value Inflation Rate
1938 AU$100.00 4.00%
1939 AU$100.00 0.00%
1940 AU$103.85 3.85%
1941 AU$107.69 3.70%
1942 AU$119.23 10.71%
1943 AU$123.08 3.23%
1944 AU$123.08 0.00%
1945 AU$123.08 0.00%
1946 AU$123.08 0.00%
1947 AU$130.77 6.25%
1948 AU$142.31 8.82%
1949 AU$153.85 8.11%
1950 AU$169.23 10.00%
1951 AU$200.00 18.18%
1952 AU$234.62 17.31%
1953 AU$246.15 4.92%
1954 AU$250.00 1.56%
1955 AU$253.85 1.54%
1956 AU$269.23 6.06%
1957 AU$276.92 2.86%
1958 AU$276.92 0.00%
1959 AU$284.62 2.78%
1960 AU$296.15 4.05%
1961 AU$300.00 1.30%
1962 AU$300.00 0.00%
1963 AU$303.85 1.28%
1964 AU$311.54 2.53%
1965 AU$323.08 3.70%
1966 AU$330.77 2.38%
1967 AU$342.31 3.49%
1968 AU$353.85 3.37%
1969 AU$365.38 3.26%
1970 AU$376.92 3.16%
1971 AU$400.00 6.12%
1972 AU$423.08 5.77%
1973 AU$461.54 9.09%
1974 AU$534.62 15.83%
1975 AU$615.38 15.11%
1976 AU$696.15 13.13%
1977 AU$780.77 12.15%
1978 AU$842.31 7.88%
1979 AU$919.23 9.13%
1980 AU$1,015.38 10.46%
1981 AU$1,111.54 9.47%
1982 AU$1,234.62 11.07%
1983 AU$1,361.54 10.28%
1984 AU$1,415.38 3.95%
1985 AU$1,507.69 6.52%
1986 AU$1,646.15 9.18%
1987 AU$1,784.62 8.41%
1988 AU$1,915.38 7.33%
1989 AU$2,057.69 7.43%
1990 AU$2,211.54 7.48%
1991 AU$2,280.77 3.13%
1992 AU$2,303.85 1.01%
1993 AU$2,342.31 1.67%
1994 AU$2,388.46 1.97%
1995 AU$2,500.00 4.67%
1996 AU$2,565.38 2.62%
1997 AU$2,573.08 0.30%
1998 AU$2,592.31 0.75%
1999 AU$2,630.77 1.48%
2000 AU$2,750.00 4.53%
2001 AU$2,869.23 4.34%
2002 AU$2,957.69 3.08%
2003 AU$3,038.46 2.73%
2004 AU$3,107.69 2.28%
2005 AU$3,192.31 2.72%
2006 AU$3,303.85 3.49%
2007 AU$3,380.77 2.33%
2008 AU$3,530.77 4.44%
2009 AU$3,592.31 1.74%
2010 AU$3,696.15 2.89%
2011 AU$3,819.23 3.33%
2012 AU$3,884.62 1.71%
2013 AU$3,980.77 2.48%
2014 AU$4,080.77 2.51%
2015 AU$4,142.31 1.51%
2016 AU$4,196.15 1.30%
2017 AU$4,276.92 1.92%
2018 AU$4,296.15 0.45%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for AU$100, 1938 to 2003

This inflation calculator uses the following inflation rate formula:

CPI in 2003CPI in 1938
×
1938 AUD value
=
2003 AUD value

Then plug in historical CPI values. The Australian CPI was 2.6 in the year 1938 and 79 in 2003:

792.6
×
AU$100
=
AU$3,038.46

AU$100 in 1938 has the same "purchasing power" or "buying power" as AU$3,038.46 in 2003.

To get the total inflation rate for the 65 years between 1938 and 2003, we use the following formula:

CPI in 2003 - CPI in 1938CPI in 1938
×
100
=
Cumulative inflation rate (65 years)

Plugging in the values to this equation, we get:

79 - 2.62.6
×
100
=
2,938%

News headlines from 1938

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

  • Anthony Eden resigns as United Kingdom's Foreign Secretary after stating that Prime Minister Neville Chamberlain has appeased Nazi Germany.
  • Czechoslovakia is forced to give territory to Germany after the Treaty of Munich was signed by Hitler, Mussolini, Daladier and Chamberlain.
  • Joseph Kennedy is named the 44th US Ambassador to the United Kingdom.

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: “1938 dollars in 2003 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Oct. 2018, https://www.officialdata.org/1938-AUD-in-2003.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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