Australian inflation rate in 1953: 4.92%

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Australian Inflation Rate, 1953-2017 (AU$1)

The consumer price index (CPI) in 1953 was 6.4. 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 4.54% per year. Prices in 2017 are 1609.4% higher than prices in 1953.

In other words, AU$1 in the year 1953 is equivalent to AU$17.09 in 2017, a difference of AU$16.09 over 64 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 1953 to 2017
Cumulative price change 1609.38%
Average inflation rate 4.54%
Price difference (AU$1 base) AU$16.09
CPI in 1953 6.4
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1953

Start with the inflation rate formula:

CPI in 2017 / CPI in 1953 * 1953 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 6.4 in the year 1953 and 109.4 in 2017:

109.4 / 6.4 * AU$1 = AU$17.09

AU$1 in 1953 has the same "purchasing power" as AU$17.09 in 2017.


News headlines from 1953

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

  • Harry Truman announces that America had developed a Hydrogen Bomb.
  • Francis Crick and James Watson announce the discovery of the DNA molecule.
  • Doctor Jonas Salk announces the creation of a polio vaccine.

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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