Australian inflation rate in 1938: 4.00%

Australia Inflation Calculator


Australian Inflation Rate, 1938-2018 (AU$1)

The consumer price index (CPI) in 1938 was 2.6. 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 4.81% per year. Prices in 2018 are 4183.4% higher than prices in 1938.

In other words, AU$1 in the year 1938 is equivalent in purchasing power to AU$42.83 in 2018, a difference of AU$41.83 over 80 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 1938 to 2018
Cumulative price change 4183.43%
Average inflation rate 4.81%
Price difference (AU$1 base) AU$41.83
CPI in 1938 2.6
CPI in 2018 111.3692

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1938

Start with the inflation rate formula:

CPI in 2018 / CPI in 1938 * 1938 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 2.6 in the year 1938 and 111.3692 in 2018:

111.3692 / 2.6 * AU$1 = AU$42.83

AU$1 in 1938 has the same "purchasing power" as AU$42.83 in 2018.

News headlines from 1938

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

  • Anthony Eden resigns as United Kingdom's Foreign Secretary after stating that Prime Minister Neville Chamberlain has appeased Nazi Germany.
  • Czechoslovakia is forced to give territory to Germany after the Treaty of Munich was signed by Hitler, Mussolini, Daladier and Chamberlain.
  • Joseph Kennedy is named the 44th US Ambassador to the United Kingdom.

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 1938 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018,

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