Australian inflation rate in 1948: 8.82%

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Australian Inflation Rate, 1948-2018 (AU$1)

The consumer price index (CPI) in 1948 was 3.7. 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 4.98% per year. Prices in 2018 are 2910.0% higher than prices in 1948.

In other words, AU$1 in the year 1948 is equivalent in purchasing power to AU$30.10 in 2018, a difference of AU$29.10 over 70 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 1948 to 2018
Cumulative price change 2909.98%
Average inflation rate 4.98%
Price difference (AU$1 base) AU$29.10
CPI in 1948 3.7
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1948

Start with the inflation rate formula:

CPI in 2018 / CPI in 1948 * 1948 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 3.7 in the year 1948 and 111.3692 in 2018:

111.3692 / 3.7 * AU$1 = AU$30.10

AU$1 in 1948 has the same "purchasing power" as AU$30.10 in 2018.


News headlines from 1948

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

  • Mahatma Gandhi is assassinated by Nathuram Godse.
  • Israel declares independence from British administration.
  • The International Declaration of Human Rights is adopted by United Nations Commission on Human Rights.
  • Moscow celebrates 500 years of the Russian Orthodox Church.
  • Physicists Alpher, Bethe, and Gamow propose the Big Bang theory in the ‘Physical Review’

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 1948 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1948.


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