Australian inflation rate in 1963: 1.28%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1963-2017 (AU$1)

The consumer price index (CPI) in 1963 was 7.9. 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 4.99% per year. Prices in 2017 are 1284.8% higher than prices in 1963.

In other words, AU$1 in the year 1963 is equivalent to AU$13.85 in 2017, a difference of AU$12.85 over 54 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 1963 to 2017
Cumulative price change 1284.81%
Average inflation rate 4.99%
Price difference (AU$1 base) AU$12.85
CPI in 1963 7.9
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1963

Start with the inflation rate formula:

CPI in 2017 / CPI in 1963 * 1963 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 7.9 in the year 1963 and 109.4 in 2017:

109.4 / 7.9 * AU$1 = AU$13.85

AU$1 in 1963 has the same "purchasing power" as AU$13.85 in 2017.


News headlines from 1963

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

  • Iran is besieged and Ayatollah Khomeini is arrested.
  • President John F. Kennedy says segregation is morally wrong and appeals for action.
  • Sarawak is granted independence from British colonial rule.
  • The "I have a dream" speech is delivered by Martin Luther King Jr addressing civil rights march in Washington.
  • John F. Kennedy is assassinated by Lee Harvey Oswald in Dallas.

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).


» Read more about inflation.