Australian inflation rate in 1948: 8.82%

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Australian Inflation Rate, 1948-2017 (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, the dollar experienced an average inflation rate of 5.03% per year. Prices in 2017 are 2856.8% higher than prices in 1948.

In other words, AU$1 in the year 1948 is equivalent to AU$29.57 in 2017, a difference of AU$28.57 over 69 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 1948 to 2017
Cumulative price change 2856.76%
Average inflation rate 5.03%
Price difference (AU$1 base) AU$28.57
CPI in 1948 3.7
CPI in 2017 109.4


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 2017 / CPI in 1948 * 1948 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 3.7 in the year 1948 and 109.4 in 2017:

109.4 / 3.7 * AU$1 = AU$29.57

AU$1 in 1948 has the same "purchasing power" as AU$29.57 in 2017.


News headlines from 1948

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

  • 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: 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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