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.
In other words, AU$1 in 1975 is equivalent in purchasing power to 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.
|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%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Australian CPI was 16 in the year 1975 and 13.9 in 1974:
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:
Plugging in the values to this equation, we get:
Politics and news often influence economic performance. Here's what was happening at the time:
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, 25 Mar. 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.