According to the Bureau of Statistics consumer price index, prices in 2002 are 2,303.13% higher than average prices throughout 1943. The dollar experienced an average inflation rate of 5.54% per year during this period, meaning the real value of a dollar decreased.

In other words, AU$100 in 1943 is equivalent in purchasing power to about AU$2,403.13 in 2002, a difference of AU$2,303.13 over 59 years.

The 1943 inflation rate was 3.23%. The inflation rate in 2002 was 3.08%. The 2002 inflation rate is higher compared to the average inflation rate of 2.38% per year between 2002 and 2019.

⌃

Cumulative price change | 2,303.13% |

Average inflation rate | 5.54% |

Converted amount (AU$100 base) | AU$2,403.13 |

Price difference (AU$100 base) | AU$2,303.13 |

CPI in 1943 | 3.200 |

CPI in 2002 | 76.900 |

Inflation in 1943 | 3.23% |

Inflation in 2002 | 3.08% |

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$100 in 1943 (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:

This inflation calculator uses the following inflation rate formula:

CPI in 2002CPI in 1943

×

1943 AUD value

=

2002 AUD value

Then plug in historical CPI values. The Australian CPI was 3.2 in the year 1943 and 76.9 in 2002:

76.93.2

×

AU$100

=

AU$100 in 1943 has the same "purchasing power" or "buying power" as AU$2,403.13 in 2002.

To get the total inflation rate for the 59 years between 1943 and 2002, we use the following formula:

CPI in 2002 - CPI in 1943CPI in 1943

×

100

=

Plugging in the values to this equation, we get:

76.9 - 3.23.2

×

100

=

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

- German general Friedrich von Paul surrenders to the Russians in Stalingrad.
- The Japanese evacuate Guadalcanal, leading to one of the great WWII battles on the Solomon Islands
- The Krakow Ghetto is liquidated by the Nazis.
- The RAF bomb the Möhne and Eder dams in the Ruhr valley, in an operation known as Chastise.
- Himmler orders the extermination of all the Nazi ghettos in Poland.

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: “1943 dollars in 2002 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Sep. 2019, https://www.officialdata.org/1943-AUD-in-2002.

Special thanks to QuickChart for providing downloadable chart images.

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

Cumulative price change | 2,303.13% |

Average inflation rate | 5.54% |

Converted amount (AU$100 base) | AU$2,403.13 |

Price difference (AU$100 base) | AU$2,303.13 |

CPI in 1943 | 3.200 |

CPI in 2002 | 76.900 |

Inflation in 1943 | 3.23% |

Inflation in 2002 | 3.08% |