Australian inflation rate in 1934: 0.00%

Australia Inflation Calculator


Australian Inflation Rate, 1934-2018 (AU$1)

The consumer price index (CPI) in 1934 was 2.3. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.73% per year. Prices in 2018 are 4742.1% higher than prices in 1934.

In other words, AU$1 in the year 1934 is equivalent in purchasing power to AU$48.42 in 2018, a difference of AU$47.42 over 84 years.

The current inflation rate in 2018 is 1.80%1. If this number holds, AU$1 today will be equivalent to AU$1.02 next year.

Inflation from 1934 to 2018
Cumulative price change 4742.14%
Average inflation rate 4.73%
Price difference (AU$1 base) AU$47.42
CPI in 1934 2.3
CPI in 2018 111.3692

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1934

Start with the inflation rate formula:

CPI in 2018 / CPI in 1934 * 1934 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 2.3 in the year 1934 and 111.3692 in 2018:

111.3692 / 2.3 * AU$1 = AU$48.42

AU$1 in 1934 has the same "purchasing power" as AU$48.42 in 2018.

News headlines from 1934

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

  • American and Canadian prairies suffer during "The Great Dustbowl", a period of drought and severe dust storms.
  • John Dillinger becomes commonly known as America's first Public Enemy Number One.
  • Hitler brutally purges the leadership of the Nazi party in an event known as "Night of Long Knives".
  • The Assassination of Leningrad mayor Sergey Kirov is used as a pretext by Stalin to start the Great Purge of the Communist party.

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 1934 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018,

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