Australian inflation rate in 1959: 2.78%

Australia Inflation Calculator

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Australian Inflation Rate, 1959-2018 (AU$1)

The consumer price index (CPI) in 1959 was 7.4. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.70% per year. Prices in 2018 are 1405.0% higher than prices in 1959.

In other words, AU$1 in the year 1959 is equivalent in purchasing power to AU$15.05 in 2018, a difference of AU$14.05 over 59 years.

The current inflation rate in 2018 is 1.80%1. If this number holds, AU$1 today will be equivalent to AU$1.02 next year.

Inflation from 1959 to 2018
Cumulative price change 1404.99%
Average inflation rate 4.70%
Price difference (AU$1 base) AU$14.05
CPI in 1959 7.4
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1959

Start with the inflation rate formula:

CPI in 2018 / CPI in 1959 * 1959 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 7.4 in the year 1959 and 111.3692 in 2018:

111.3692 / 7.4 * AU$1 = AU$15.05

AU$1 in 1959 has the same "purchasing power" as AU$15.05 in 2018.


News headlines from 1959

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

  • Hawaii becomes the 50th state of the United States of America.
  • Luna I is the first spacecraft to leave the Earth's gravity.
  • Fidel Castro becomes the 16th Prime Minister of Cuba after overthrowing Batista.
  • The Dalai Lama flees China after India grants him political asylum.

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 1959 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1959.


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