According to the Bureau of Statistics consumer price index, prices in 1968 are 9.52% higher than average prices throughout 1965. The dollar experienced an average inflation rate of 3.08% per year during this period, meaning the real value of a dollar decreased.

In other words, AU$1 in 1965 is equivalent in purchasing power to about AU$1.10 in 1968, a difference of AU$0.10 over 3 years.

The 1965 inflation rate was 3.70%. The inflation rate in 1968 was 3.37%. The 1968 inflation rate is lower compared to the average inflation rate of 5.07% per year between 1968 and 2019.

⌃

Cumulative price change | 9.52% |

Average inflation rate | 3.08% |

Converted amount (AU$1 base) | AU$1.10 |

Price difference (AU$1 base) | AU$0.10 |

CPI in 1965 | 8.400 |

CPI in 1968 | 9.200 |

Inflation in 1965 | 3.70% |

Inflation in 1968 | 3.37% |

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$1 in 1965 (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 1968CPI in 1965

×

1965 AUD value

=

1968 AUD value

Then plug in historical CPI values. The Australian CPI was 8.4 in the year 1965 and 9.2 in 1968:

9.28.4

×

AU$1

=

AU$1 in 1965 has the same "purchasing power" or "buying power" as AU$1.10 in 1968.

To get the total inflation rate for the 3 years between 1965 and 1968, we use the following formula:

CPI in 1968 - CPI in 1965CPI in 1965

×

100

=

Plugging in the values to this equation, we get:

9.2 - 8.48.4

×

100

=

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

- Aleksei Leonov, a Soviet cosmonaut, makes the first Spacewalk, when he leaves the Hos spacecraft for 12 minutes.
- Winston Churchill, is given the largest state funeral ever, it takes place in St Paul's Cathedral, London.
- The Supreme Court legalises the use of contraception by married couples.
- France becomes the third nation in space, after launching its first satellite.
- Lyndon B. Johnson, US President, signs the Voting Rights Act, making voting discrimination against minorities illegal.

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: “AU$1 in 1965 → 1968 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Jun. 2019, https://www.officialdata.org/1965-AUD-in-1968?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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

Cumulative price change | 9.52% |

Average inflation rate | 3.08% |

Converted amount (AU$1 base) | AU$1.10 |

Price difference (AU$1 base) | AU$0.10 |

CPI in 1965 | 8.400 |

CPI in 1968 | 9.200 |

Inflation in 1965 | 3.70% |

Inflation in 1968 | 3.37% |