★ 1943 dollars in 2018

Australian inflation rate in 1943: 3.23%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1943-2018 (AU$1)

The consumer price index (CPI) in 1943 was 3.2. 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 4.85% per year. Prices in 2018 are 3380.3% higher than prices in 1943.

In other words, AU$1 in the year 1943 is equivalent in purchasing power to AU$34.80 in 2018, a difference of AU$33.80 over 75 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 1943 to 2018
Cumulative price change 3380.29%
Average inflation rate 4.85%
Price difference (AU$1 base) AU$33.80
CPI in 1943 3.2
CPI in 2018 111.3692

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1943

Start with the inflation rate formula:

CPI in 2018 / CPI in 1943 * 1943 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 3.2 in the year 1943 and 111.3692 in 2018:

111.3692 / 3.2 * AU$1 = AU$34.80

AU$1 in 1943 has the same "purchasing power" as AU$34.80 in 2018.

News headlines from 1943

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

  • German general Friedrich von Paul surrenders to the Russians in Stalingrad.
  • The Japanese evacuate Guadalcanal, leading to one of the great WWII battles on the Solomon Islands
  • The Krakow Ghetto is liquidated by the Nazis.
  • The RAF bomb the Möhne and Eder dams in the Ruhr valley, in an operation known as Chastise.
  • Himmler orders the extermination of all the Nazi ghettos in Poland.

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 1943 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 20 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1943.

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