Australian inflation rate in 1923: 0.00%

Australia Inflation Calculator

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Australian Inflation Rate, 1923-2017 (AU$1)

The consumer price index (CPI) in 1923 was 2.8. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 3.98% per year. Prices in 2017 are 3807.1% higher than prices in 1923.

In other words, AU$1 in the year 1923 is equivalent to AU$39.07 in 2017, a difference of AU$38.07 over 94 years.

The current inflation rate in 2017 is 0.64%1. If this number holds, AU$1 today will be equivalent to AU$1.01 next year.

Inflation from 1923 to 2017
Cumulative price change 3807.14%
Average inflation rate 3.98%
Price difference (AU$1 base) AU$38.07
CPI in 1923 2.8
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1923

Start with the inflation rate formula:

CPI in 2017 / CPI in 1923 * 1923 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 109.4 in 2017:

109.4 / 2.8 * AU$1 = AU$39.07

AU$1 in 1923 has the same "purchasing power" as AU$39.07 in 2017.


News headlines from 1923

Politics and news often play an important role in economic performance.

  • The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
  • The Disney Brothers Cartoon Studio is founded.
  • Lenin's "Political Testament" is issued which calls for Stalin's removal.
  • 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions in Germany.

Inflation Data Source: 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).


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