Australian inflation rate in 1959: 2.78%

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Australian Inflation Rate, 1959-2017 (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, the dollar experienced an average inflation rate of 4.75% per year. Prices in 2017 are 1378.4% higher than prices in 1959.

In other words, AU$1 in the year 1959 is equivalent to AU$14.78 in 2017, a difference of AU$13.78 over 58 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 1959 to 2017
Cumulative price change 1378.38%
Average inflation rate 4.75%
Price difference (AU$1 base) AU$13.78
CPI in 1959 7.4
CPI in 2017 109.4


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 2017 / CPI in 1959 * 1959 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 7.4 in the year 1959 and 109.4 in 2017:

109.4 / 7.4 * AU$1 = AU$14.78

AU$1 in 1959 has the same "purchasing power" as AU$14.78 in 2017.


News headlines from 1959

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

  • Luna I is the first aircraft 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: 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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