Australia Inflation Calculator
Australian Inflation Rate, 1944-2018 (AU$1)
The consumer price index (CPI) in 1944 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 4.91% per year. Prices in 2018 are 3380.3% higher than prices in 1944.
In other words, AU$1 in the year 1944 is equivalent in purchasing power to AU$34.80 in 2018, a difference of AU$33.80 over 74 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.
| Cumulative price change | 3380.29% |
| Average inflation rate | 4.91% |
| Price difference (AU$1 base) | AU$33.80 |
| CPI in 1944 | 3.2 |
| CPI in 2018 | 111.3692 |
How to calculate the inflation rate for AU$1 since 1944
Start with the inflation rate formula:CPI in 2018 / CPI in 1944 * 1944 AUD value = 2018 AUD value
Then plug in historical CPI values. The Australian CPI was 3.2 in the year 1944 and 111.3692 in 2018:
111.3692 / 3.2 * AU$1 = AU$34.80
AU$1 in 1944 has the same "purchasing power" as AU$34.80 in 2018.
News headlines from 1944
Politics and news often influence economic performance. Here's what was happening at the time:
- Leningrad is liberated after 880 days of German rule: 600,000 men lose their lives during the occupation.
- The first of more than 180,000 Jews arrive at Auschwitz.
- Paris is liberated from Nazi occupation in an event known as Freedom Tuesday.
- Nazis crush the Warsaw Uprising, killing 250,000 people.
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 1944 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1944.