Australian inflation rate in 1960: 4.05%

Australia Inflation Calculator


Inflation in 1960 and Its Effect on Dollar Value

Purchasing power decreased by 4.05% in 1960 compared to 1959. On average, you would have to spend 4.05% more money in 1960 than in 1959 for the same item.

In other words, AU$1 in 1959 is equivalent in purchasing power to about AU$1.04 in 1960.

The 1959 inflation rate was 2.78%. The inflation rate in 1960 was 4.05%. The 1960 inflation rate is lower compared to the average inflation rate of 4.69% per year between 1960 and 2019.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1960 was 7.70. It was 7.40 in the previous year, 1959. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.

Inflation from 1959 to 1960
Average inflation rate 4.05%
Converted amount (AU$1 base) AU$1.04
Price difference (AU$1 base) AU$0.04
CPI in 1959 7.400
CPI in 1960 7.700
Inflation in 1959 2.78%
Inflation in 1960 4.05%

AUD inflation chart from 1922 to 2017

How to Calculate Inflation Rate for AU$1, 1959 to 1960

This inflation calculator uses the following inflation rate formula:

CPI in 1960CPI in 1959
1959 AUD value
1960 AUD value

Then plug in historical CPI values. The Australian CPI was 7.4 in the year 1959 and 7.7 in 1960:


AU$1 in 1959 has the same "purchasing power" or "buying power" as AU$1.04 in 1960.

To get the total inflation rate for the 1 years between 1959 and 1960, we use the following formula:

CPI in 1960 - CPI in 1959CPI in 1959
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.7 - 7.47.4

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.

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 1960 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 May. 2019,

Special thanks to QuickChart for providing downloadable chart images. is a reference website maintained by the Official Data Foundation.

» Read more about inflation and investment.