Australia Inflation Calculator
Inflation in 1929 and Its Effect on Dollar Value
Purchasing power decreased by 0.00% in 1929 compared to 1928. On average, you would have to spend 0.00% more money in 1929 than in 1928 for the same item.
In other words, AU$1 in 1928 is equivalent in purchasing power to about AU$1 in 1929.
The 1928 inflation rate was 3.57%. The inflation rate in 1929 was 0.00%. The 1929 inflation rate is lower compared to the average inflation rate of 4.17% per year between 1929 and 2019.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1929 was 2.90. It was 2.90 in the previous year, 1928. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
⌃
| Average inflation rate | 0.00% |
| Converted amount (AU$1 base) | AU$1 |
| Price difference (AU$1 base) | AU$0.00 |
| CPI in 1928 | 2.900 |
| CPI in 1929 | 2.900 |
| Inflation in 1928 | 3.57% |
| Inflation in 1929 | 0.00% |
How to Calculate Inflation Rate for AU$1, 1928 to 1929
This inflation calculator uses the following inflation rate formula:
CPI in 1929CPI in 1928
×
1928 AUD value
=
1929 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 2.9 in 1929:
2.92.9
×
AU$1
=
AU$1
AU$1 in 1928 has the same "purchasing power" or "buying power" as AU$1 in 1929.
To get the total inflation rate for the 1 years between 1928 and 1929, we use the following formula:
CPI in 1929 - CPI in 1928CPI in 1928
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
2.9 - 2.92.9
×
100
=
0%
News headlines from 1928
Politics and news often influence economic performance. Here's what was happening at the time:
- Amelia Earhart becomes the first woman to fly across the Atlantic Ocean.
- Jawaharlal Nehru requests Indian independence.
- Alexander Fleming, a Scottish bacteriologist, accidentally discovers penicillin while studying influenza.
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: “Inflation Rate in 1929 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Apr. 2019, https://www.officialdata.org/Australia-inflation-rate-in-1929.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.