AU\$

Australian inflation rate in 1961: 1.30%

Inflation in 1961 and Its Effect on Dollar Value

Purchasing power decreased by 1.30% in 1961 compared to 1960. On average, you would have to spend 1.30% more money in 1961 than in 1960 for the same item.

In other words, AU\$1 in 1960 is equivalent in purchasing power to about AU\$1.01 in 1961.

The 1960 inflation rate was 4.05%. The inflation rate in 1961 was 1.30%. The 1961 inflation rate is lower compared to the average inflation rate of 4.74% per year between 1961 and 2019.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1961 was 7.80. It was 7.70 in the previous year, 1960. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.

 Average inflation rate 1.30% Converted amount (AU\$1 base) AU\$1.01 Price difference (AU\$1 base) AU\$0.01 CPI in 1960 7.700 CPI in 1961 7.800 Inflation in 1960 4.05% Inflation in 1961 1.30%

How to Calculate Inflation Rate for AU\$1, 1960 to 1961

This inflation calculator uses the following inflation rate formula:

CPI in 1961CPI in 1960
×
1960 AUD value
=
1961 AUD value

Then plug in historical CPI values. The Australian CPI was 7.7 in the year 1960 and 7.8 in 1961:

7.87.7
×
AU\$1
=
AU\$1.01

AU\$1 in 1960 has the same "purchasing power" or "buying power" as AU\$1.01 in 1961.

To get the total inflation rate for the 1 years between 1960 and 1961, we use the following formula:

CPI in 1961 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.8 - 7.77.7
×
100
=
1%

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

• 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

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 1961 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Sep. 2019, https://www.officialdata.org/Australia-inflation-rate-in-1961.