Australian inflation rate in 1953: 4.92%

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Inflation in 1953 and Its Effect on Dollar Value

Purchasing power decreased by 4.92% in 1953 compared to the previous year, 1952. On average, you would have to spend 4.92% more money in 1953 than in 1952 for the same item.

In other words, AU$1 in 1952 is equivalent in purchasing power to AU$1.05 in 1953.

The 1952 inflation rate was 17.31%. The inflation rate in 1953 was 4.92%. The 1953 inflation rate is higher compared to the average inflation rate of 4.50% per year between 1953 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1953 was 6.4. It was 6.1 in the previous year, 1952. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1952 to 1953
Average inflation rate 4.92%
Converted amount (AU$1 base) AU$1.05
Price difference (AU$1 base) AU$0.05
CPI in 1952 6.100
CPI in 1953 6.400
Inflation in 1952 17.31%
Inflation in 1953 4.92%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$1, 1952 to 1953

This inflation calculator uses the following inflation rate formula:

CPI in 1953CPI in 1952
×
1952 AUD value
=
1953 AUD value

Then plug in historical CPI values. The Australian CPI was 6.1 in the year 1952 and 6.4 in 1953:

6.46.1
×
AU$1
=
AU$1.05

AU$1 in 1952 has the same "purchasing power" or "buying power" as AU$1.05 in 1953.

To get the total inflation rate for the 1 years between 1952 and 1953, we use the following formula:

CPI in 1953 - CPI in 1952CPI in 1952
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

6.4 - 6.16.1
×
100
=
5%

News headlines from 1952

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

  • Queen Elizabeth II's succeeds King George VI to the British throne.
  • The concept of the integrated circuit, the basis of modern computers, is published for the first time by Geoffrey Dummer.

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 1953 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Dec. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1953.

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


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