Australian inflation rate in 1956: 6.06%

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Australian Inflation Rate, 1956-2017 (AU$1)

The consumer price index (CPI) in 1956 was 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 4.61% per year. Prices in 2017 are 1462.9% higher than prices in 1956.

In other words, AU$1 in the year 1956 is equivalent to AU$15.63 in 2017, a difference of AU$14.63 over 61 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 1956 to 2017
Cumulative price change 1462.86%
Average inflation rate 4.61%
Price difference (AU$1 base) AU$14.63
CPI in 1956 7
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1956

Start with the inflation rate formula:

CPI in 2017 / CPI in 1956 * 1956 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 7 in the year 1956 and 109.4 in 2017:

109.4 / 7 * AU$1 = AU$15.63

AU$1 in 1956 has the same "purchasing power" as AU$15.63 in 2017.


News headlines from 1956

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

  • Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
  • Morocco declares independence from France, tearing up the Treaty of Fez.
  • IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
  • 1957 Great Britain grants the Federation of Malaya independence
  • President Eisenhower orders the desegregation of Little Rock schools
  • Shippingport Atomic Power Station in Pennsylvania, becomes the world's first nuclear power station to generate electricity.

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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