Australian inflation rate in 1958: 0.00%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1958-2017 (AU$1)

The consumer price index (CPI) in 1958 was 7.2. 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 4.72% per year. Prices in 2017 are 1419.4% higher than prices in 1958.

In other words, AU$1 in the year 1958 is equivalent to AU$15.19 in 2017, a difference of AU$14.19 over 59 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 1958 to 2017
Cumulative price change 1419.44%
Average inflation rate 4.72%
Price difference (AU$1 base) AU$14.19
CPI in 1958 7.2
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1958

Start with the inflation rate formula:

CPI in 2017 / CPI in 1958 * 1958 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 7.2 in the year 1958 and 109.4 in 2017:

109.4 / 7.2 * AU$1 = AU$15.19

AU$1 in 1958 has the same "purchasing power" as AU$15.19 in 2017.


News headlines from 1958

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

  • The European Economic Community,is founded.
  • Nikita Khrushchev is named First Secretary of the Communist Party and Soviet Premier.
  • The "Great leap forward" movement in China is started by Mao Zedong.
  • Fulgencio Batista, the Cuban dictator, announces to his Cabinet that he is fleeing the country.

Inflation Data Source

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 1958 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/Australia-inflation-rate-in-1958.


» Read more about inflation.