Australian inflation rate in 1962: 0.00%

Australia Inflation Calculator


Australian Inflation Rate, 1962-2017 (AU$1)

The consumer price index (CPI) in 1962 was 7.8. 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 4.92% per year. Prices in 2017 are 1302.6% higher than prices in 1962.

In other words, AU$1 in the year 1962 is equivalent to AU$14.03 in 2017, a difference of AU$13.03 over 55 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 1962 to 2017
Cumulative price change 1302.56%
Average inflation rate 4.92%
Price difference (AU$1 base) AU$13.03
CPI in 1962 7.8
CPI in 2017 109.4

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1962

Start with the inflation rate formula:

CPI in 2017 / CPI in 1962 * 1962 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 7.8 in the year 1962 and 109.4 in 2017:

109.4 / 7.8 * AU$1 = AU$14.03

The "purchasing power" of AU$1 from 1962 is AU$14.03 in 2017.

News headlines from 1962

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

  • The second Vatican Council is convened by Pope John XXIII.
  • The American President, Kennedy, orders the naval blockade of Cuba marking the beginning of the missile crisis.
  • The Cuban missile crisis also known as Black Saturday begins.

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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