According to the Bureau of Statistics consumer price index, prices in 1983 are 941.18% higher than average prices throughout 1947. The dollar experienced an average inflation rate of 6.72% per year during this period, meaning the real value of a dollar decreased.

In other words, AU$100 in 1947 is equivalent in purchasing power to about AU$1,041.18 in 1983, a difference of AU$941.18 over 36 years.

The 1947 inflation rate was 6.25%. The inflation rate in 1983 was 10.28%. The 1983 inflation rate is higher compared to the average inflation rate of 3.32% per year between 1983 and 2019.

⌃

Cumulative price change | 941.18% |

Average inflation rate | 6.72% |

Converted amount (AU$100 base) | AU$1,041.18 |

Price difference (AU$100 base) | AU$941.18 |

CPI in 1947 | 3.400 |

CPI in 1983 | 35.400 |

Inflation in 1947 | 6.25% |

Inflation in 1983 | 10.28% |

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$100 in 1947 (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 1983CPI in 1947

×

1947 AUD value

=

1983 AUD value

Then plug in historical CPI values. The Australian CPI was 3.4 in the year 1947 and 35.4 in 1983:

35.43.4

×

AU$100

=

AU$100 in 1947 has the same "purchasing power" or "buying power" as AU$1,041.18 in 1983.

To get the total inflation rate for the 36 years between 1947 and 1983, we use the following formula:

CPI in 1983 - CPI in 1947CPI in 1947

×

100

=

Plugging in the values to this equation, we get:

35.4 - 3.43.4

×

100

=

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

- Civil disorder in Taiwan is put down resulting in the loss of 30,000 civilian lives.
- The new Japanese constitution comes into effect.
- The alleged Roswell UFO incident happens.

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: “1947 dollars in 1983 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 Aug. 2019, https://www.officialdata.org/1947-AUD-in-1983.

Special thanks to QuickChart for providing downloadable chart images.

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

Cumulative price change | 941.18% |

Average inflation rate | 6.72% |

Converted amount (AU$100 base) | AU$1,041.18 |

Price difference (AU$100 base) | AU$941.18 |

CPI in 1947 | 3.400 |

CPI in 1983 | 35.400 |

Inflation in 1947 | 6.25% |

Inflation in 1983 | 10.28% |