$100 in 1949 is equivalent in purchasing power to about $2,020 in 2004, an increase of $1,920.00 over 55 years. The dollar had an average inflation rate of 5.62% per year between 1949 and 2004, producing a cumulative price increase of 1,920.00%.
This means that prices in 2004 are 20.20 times as high as average prices since 1949, according to the Bureau of Statistics consumer price index.
The inflation rate in 1949 was 8.11%. The inflation rate in 2004 was 2.28%. The 2004 inflation rate is lower compared to the average inflation rate of 2.61% per year between 2004 and 2024.
Cumulative price change | 1,920.00% |
Average inflation rate | 5.62% |
Converted amount $100 base | $2,020 |
Price difference $100 base | $1,920.00 |
CPI in 1949 | 4.000 |
CPI in 2004 | 80.800 |
Inflation in 1949 | 8.11% |
Inflation in 2004 | 2.28% |
$100 in 1949 | $2,020 in 2004 |
This chart shows a calculation of buying power equivalence for $100 in 1949 (price index tracking began in 1922).
For example, if you started with $100, you would need to end with $2,020 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $2,020 over time, that means that the "real value" of a single Australian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1949 dollars, the chart below shows how $100 is worth less over 55 years.
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 conversion table shows various other 1949 amounts in 2004 dollars, based on the 1,920.00% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1949 | $20.20 dollars in 2004 |
$5 dollars in 1949 | $101.00 dollars in 2004 |
$10 dollars in 1949 | $202.00 dollars in 2004 |
$50 dollars in 1949 | $1,010.00 dollars in 2004 |
$100 dollars in 1949 | $2,020.00 dollars in 2004 |
$500 dollars in 1949 | $10,100.00 dollars in 2004 |
$1,000 dollars in 1949 | $20,200.00 dollars in 2004 |
$5,000 dollars in 1949 | $101,000.00 dollars in 2004 |
$10,000 dollars in 1949 | $202,000.00 dollars in 2004 |
$50,000 dollars in 1949 | $1,010,000.00 dollars in 2004 |
$100,000 dollars in 1949 | $2,020,000.00 dollars in 2004 |
$500,000 dollars in 1949 | $10,100,000.00 dollars in 2004 |
$1,000,000 dollars in 1949 | $20,200,000.00 dollars in 2004 |
Our calculations use the following inflation rate formula to calculate the change in value between 1949 and 2004:
Then plug in historical CPI values. The Australian CPI was 4 in the year 1949 and 80.8 in 2004:
$100 in 1949 has the same "purchasing power" or "buying power" as $2,020 in 2004.
To get the total inflation rate for the 55 years between 1949 and 2004, we use the following formula:
Plugging in the values to this equation, we get:
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: “1949 dollars in 2004 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Apr. 2024, https://www.officialdata.org/1949-AUD-in-2004.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
Cumulative price change | 1,920.00% |
Average inflation rate | 5.62% |
Converted amount $100 base | $2,020 |
Price difference $100 base | $1,920.00 |
CPI in 1949 | 4.000 |
CPI in 2004 | 80.800 |
Inflation in 1949 | 8.11% |
Inflation in 2004 | 2.28% |
$100 in 1949 | $2,020 in 2004 |