AU$1 in 1975 → AU$0.87 in 1974

Australia Inflation Calculator

AU$

Australian Inflation Rate, AU$1 in 1975 to 1974

According to the Bureau of Statistics consumer price index, prices in 1974 are 13.12% lower than average prices throughout 1975. The dollar experienced an average inflation rate of 15.11% per year during this period, meaning the real value of a dollar decreased.

In other words, AU$1 in 1975 is equivalent in purchasing power to about AU$0.87 in 1974.

The 1974 inflation rate was 15.83%. The inflation rate in 1975 was 15.11%. The 1975 inflation rate is higher compared to the average inflation rate of 4.58% per year between 1975 and 2019.


Inflation from 1975 to 1974
Average inflation rate 15.11%
Converted amount (AU$1 base) AU$0.87
Price difference (AU$1 base) AU$-0.13
CPI in 1975 16.000
CPI in 1974 13.900
Inflation in 1974 15.83%
Inflation in 1975 15.11%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$1, 1974 to 1975

This inflation calculator uses the following inflation rate formula:

CPI in 1974CPI in 1975
×
1975 AUD value
=
1974 AUD value

Then plug in historical CPI values. The Australian CPI was 16 in the year 1975 and 13.9 in 1974:

13.916
×
AU$1
=
AU$0.87

AU$1 in 1975 has the same "purchasing power" or "buying power" as AU$0.87 in 1974.

To get the total inflation rate for the 1 years between 1974 and 1975, we use the following formula:

CPI in 1974 - CPI in 1975CPI in 1975
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

13.9 - 1616
×
100
=
-13%

News headlines from 1974

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

  • Margaret Thatcher becomes leader of the British Conservative Party, after defeating Edward Heath.
  • Ethiopia abrogates its 3,000-year-old monarchy.
  • Bill Gates and Paul Allen found Microsoft.
  • The US signals the beginning of the end of its involvement Vietnam, after it begins to evacuate its citizens from Saigon.
  • Gough Whitlam is removed by Governor General Sir John Kerr: the first time an elected Prime Minister had been deposed in 200 years (Australia).

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 1975 → 1974 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 27 May. 2019, https://www.officialdata.org/1975-AUD-in-1974?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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


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