Australian inflation rate in 1960: 4.05%

Australia Inflation Calculator


Australian Inflation Rate, 1960-2017 (AU$1)

The consumer price index (CPI) in 1960 was 7.7. 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 4.77% per year. Prices in 2017 are 1320.8% higher than prices in 1960.

In other words, AU$1 in the year 1960 is equivalent to AU$14.21 in 2017, a difference of AU$13.21 over 57 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 1960 to 2017
Cumulative price change 1320.78%
Average inflation rate 4.77%
Price difference (AU$1 base) AU$13.21
CPI in 1960 7.7
CPI in 2017 109.4

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1960

Start with the inflation rate formula:

CPI in 2017 / CPI in 1960 * 1960 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 7.7 in the year 1960 and 109.4 in 2017:

109.4 / 7.7 * AU$1 = AU$14.21

AU$1 in 1960 has the same "purchasing power" as AU$14.21 in 2017.

News headlines from 1960

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

  • Johnny Cash plays his first concert in a prison.
  • The Bank of France issues new franc currency, worth 100 times the value of old francs.
  • France grants independence to Cameroon (previously French Cameroon) after years of fighting.
  • Guided missiles are launched for the first time from a nuclear powered submarine

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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