Australian inflation rate in 1951: 18.18%

Australia Inflation Calculator

AU$

Inflation in 1951 and Its Effect on Dollar Value

Purchasing power decreased by 18.18% in 1951 compared to the previous year, 1950. On average, you would have to spend 18.18% more money in 1951 than in 1950 for the same item.

In other words, AU$1 in 1950 is equivalent in purchasing power to AU$1.18 in 1951.

The 1950 inflation rate was 10.00%. The inflation rate in 1951 was 18.18%. The 1951 inflation rate is higher compared to the average inflation rate of 4.68% per year between 1951 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1951 was 5.2. It was 4.4 in the previous year, 1950. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1950 to 1951
Average inflation rate 18.18%
Converted amount (AU$1 base) AU$1.18
Price difference (AU$1 base) AU$0.18
CPI in 1950 4.400
CPI in 1951 5.200
Inflation in 1950 10.00%
Inflation in 1951 18.18%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$1, 1950 to 1951

This inflation calculator uses the following inflation rate formula:

CPI in 1951CPI in 1950
×
1950 AUD value
=
1951 AUD value

Then plug in historical CPI values. The Australian CPI was 4.4 in the year 1950 and 5.2 in 1951:

5.24.4
×
AU$1
=
AU$1.18

AU$1 in 1950 has the same "purchasing power" or "buying power" as AU$1.18 in 1951.

To get the total inflation rate for the 1 years between 1950 and 1951, we use the following formula:

CPI in 1951 - CPI in 1950CPI in 1950
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

5.2 - 4.44.4
×
100
=
18%

News headlines from 1950

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

  • Jerusalem is proclaimed the capital of Israel by Knesset
  • North Korea invades South Korea.
  • Harry Truman announces that America will seek to develop a hydrogen bomb.
  • Chinese forces occupy Tibet.

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 1951 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 14 Nov. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1951.

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


» Read more about inflation and investment.