Australian inflation rate in 1929: 0.00%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1929-2017 (AU$1)

The consumer price index (CPI) in 1929 was 2.9. 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 4.21% per year. Prices in 2017 are 3672.4% higher than prices in 1929.

In other words, AU$1 in the year 1929 is equivalent to AU$37.72 in 2017, a difference of AU$36.72 over 88 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 1929 to 2017
Cumulative price change 3672.41%
Average inflation rate 4.21%
Price difference (AU$1 base) AU$36.72
CPI in 1929 2.9
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1929

Start with the inflation rate formula:

CPI in 2017 / CPI in 1929 * 1929 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1929 and 109.4 in 2017:

109.4 / 2.9 * AU$1 = AU$37.72

AU$1 in 1929 has the same "purchasing power" as AU$37.72 in 2017.


News headlines from 1929

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

  • The World's smallest country, the Vatican City, is made a Roman enclave
  • Seven gangsters are killed in Chicago (allegedly on) Al Capone's orders, the event is now known as St Valentine's Day Massacre.
  • A final solution of a border dispute between Chile and Peru is reached after the signing of the Treaty of Lima.
  • Beginning of the Great Depression with stock market crash known as "Black Thursday"
  • ‘Black Thursday’, leads to the Wall Street crash, the biggest depression in the history of the world.

Inflation Data Source

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: “Inflation Rate in 1929 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/Australia-inflation-rate-in-1929.


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