Australian inflation rate in 1949: 8.11%

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Inflation in 1949 and Its Effect on Dollar Value

Purchasing power decreased by 8.11% in 1949 compared to the previous year, 1948. On average, you would have to spend 8.11% more money in 1949 than in 1948 for the same item.

In other words, AU$100 in 1948 is equivalent in purchasing power to AU$108.11 in 1949.

The 1948 inflation rate was 8.82%. The inflation rate in 1949 was 8.11%. The 1949 inflation rate is higher compared to the average inflation rate of 4.94% per year between 1949 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1949 was 4. It was 3.7 in the previous year, 1948. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1948 to 1949
Average inflation rate 8.11%
Converted amount (AU$100 base) AU$108.11
Price difference (AU$100 base) AU$8.11
CPI in 1948 3.7
CPI in 1949 4
Inflation in 1948 8.82%
Inflation in 1949 8.11%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$100, 1948 to 1949

This inflation calculator uses the following inflation rate formula:

CPI in 1949CPI in 1948
×
1948 AUD value
=
1949 AUD value

Then plug in historical CPI values. The Australian CPI was 3.7 in the year 1948 and 4 in 1949:

43.7
×
AU$100
=
AU$108.11

AU$100 in 1948 has the same "purchasing power" or "buying power" as AU$108.11 in 1949.

To get the total inflation rate for the 1 years between 1948 and 1949, we use the following formula:

CPI in 1949 - CPI in 1948CPI in 1948
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

4 - 3.73.7
×
100
=
8%

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’

Data Source & Citation

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 1949 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Oct. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1949.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.