AU$1 in 1970 → AU$0.94 in 1968

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AU$1 in 1970 → AU$0.94 in 1968

Australian Inflation Rate, AU$1 in 1970 to 1968

According to the Bureau of Statistics consumer price index, prices in 1968 are 6.12% lower than average prices throughout 1970. The dollar experienced an average inflation rate of 3.21% per year during this period, meaning the real value of a dollar decreased.

In other words, AU$1 in 1970 is equivalent in purchasing power to about AU$0.94 in 1968, a difference of AU$-0.06 over 2 years.

The 1968 inflation rate was 3.37%. The inflation rate in 1970 was 3.16%. The 1970 inflation rate is lower compared to the average inflation rate of 5.15% per year between 1970 and 2019.


Inflation from 1970 to 1968
Cumulative price change -6.12%
Average inflation rate 3.21%
Converted amount (AU$1 base) AU$0.94
Price difference (AU$1 base) AU$-0.06
CPI in 1970 9.800
CPI in 1968 9.200
Inflation in 1968 3.37%
Inflation in 1970 3.16%

AUD inflation chart from 1922 to 2017


Buying power of AU$1 in 1968

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for AU$1 in 1968 (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 Dollar Value Inflation Rate
1968 AU$1.00 3.37%
1969 AU$1.03 3.26%
1970 AU$1.07 3.16%
1971 AU$1.13 6.12%
1972 AU$1.20 5.77%
1973 AU$1.30 9.09%
1974 AU$1.51 15.83%
1975 AU$1.74 15.11%
1976 AU$1.97 13.13%
1977 AU$2.21 12.15%
1978 AU$2.38 7.88%
1979 AU$2.60 9.13%
1980 AU$2.87 10.46%
1981 AU$3.14 9.47%
1982 AU$3.49 11.07%
1983 AU$3.85 10.28%
1984 AU$4.00 3.95%
1985 AU$4.26 6.52%
1986 AU$4.65 9.18%
1987 AU$5.04 8.41%
1988 AU$5.41 7.33%
1989 AU$5.82 7.43%
1990 AU$6.25 7.48%
1991 AU$6.45 3.13%
1992 AU$6.51 1.01%
1993 AU$6.62 1.67%
1994 AU$6.75 1.97%
1995 AU$7.07 4.67%
1996 AU$7.25 2.62%
1997 AU$7.27 0.30%
1998 AU$7.33 0.75%
1999 AU$7.43 1.48%
2000 AU$7.77 4.53%
2001 AU$8.11 4.34%
2002 AU$8.36 3.08%
2003 AU$8.59 2.73%
2004 AU$8.78 2.28%
2005 AU$9.02 2.72%
2006 AU$9.34 3.49%
2007 AU$9.55 2.33%
2008 AU$9.98 4.44%
2009 AU$10.15 1.74%
2010 AU$10.45 2.89%
2011 AU$10.79 3.33%
2012 AU$10.98 1.71%
2013 AU$11.25 2.48%
2014 AU$11.53 2.51%
2015 AU$11.71 1.51%
2016 AU$11.86 1.30%
2017 AU$12.09 1.92%
2018 AU$12.24 1.26%
2019 AU$12.47 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for AU$1, 1968 to 1970

This inflation calculator uses the following inflation rate formula:

CPI in 1968CPI in 1970
×
1970 AUD value
=
1968 AUD value

Then plug in historical CPI values. The Australian CPI was 9.8 in the year 1970 and 9.2 in 1968:

9.29.8
×
AU$1
=
AU$0.94

AU$1 in 1970 has the same "purchasing power" or "buying power" as AU$0.94 in 1968.

To get the total inflation rate for the 2 years between 1968 and 1970, we use the following formula:

CPI in 1968 - CPI in 1970CPI in 1970
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

9.2 - 9.89.8
×
100
=
-6%

News headlines from 1968

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

  • January 1st, 1970 established as Epoch time for UNIX systems.
  • Rhodesia declares independence and sets up a republican government.
  • Aswan Dam opens in Egypt to prevent flooding of the Nile River.
  • A Palestinian terrorist organization hijacks three aircrafts in an incident that is later known as Black September.

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: “AU$1 in 1970 → 1968 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Aug. 2019, https://www.officialdata.org/1970-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.


» Read more about inflation and investment.

Inflation from 1970 to 1968
Cumulative price change -6.12%
Average inflation rate 3.21%
Converted amount (AU$1 base) AU$0.94
Price difference (AU$1 base) AU$-0.06
CPI in 1970 9.800
CPI in 1968 9.200
Inflation in 1968 3.37%
Inflation in 1970 3.16%
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