Australian inflation rate in 1938: 4.00%

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Australian Inflation Rate, 1938-2017 (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, the dollar experienced an average inflation rate of 4.85% per year. Prices in 2017 are 4107.7% higher than prices in 1938.

In other words, AU$1 in the year 1938 is equivalent to AU$42.08 in 2017, a difference of AU$41.08 over 79 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 1938 to 2017
Cumulative price change 4107.69%
Average inflation rate 4.85%
Price difference (AU$1 base) AU$41.08
CPI in 1938 2.6
CPI in 2017 109.4


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 2017 / CPI in 1938 * 1938 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 2.6 in the year 1938 and 109.4 in 2017:

109.4 / 2.6 * AU$1 = AU$42.08

AU$1 in 1938 has the same "purchasing power" as AU$42.08 in 2017.


News headlines from 1938

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

  • 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: 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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