Australian inflation rate in 1966: 2.38%

Australia Inflation Calculator

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Australian Inflation Rate, 1966-2018 (AU$1)

The consumer price index (CPI) in 1966 was 8.6. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 5.05% per year. Prices in 2018 are 1195.0% higher than prices in 1966.

In other words, AU$1 in the year 1966 is equivalent in purchasing power to AU$12.95 in 2018, a difference of AU$11.95 over 52 years.

The current inflation rate in 2018 is 1.80%1. If this number holds, AU$1 today will be equivalent to AU$1.02 next year.

Inflation from 1966 to 2018
Cumulative price change 1194.99%
Average inflation rate 5.05%
Price difference (AU$1 base) AU$11.95
CPI in 1966 8.6
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1966

Start with the inflation rate formula:

CPI in 2018 / CPI in 1966 * 1966 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 8.6 in the year 1966 and 111.3692 in 2018:

111.3692 / 8.6 * AU$1 = AU$12.95

AU$1 in 1966 has the same "purchasing power" as AU$12.95 in 2018.


News headlines from 1966

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

  • Soviet Luna 9 lands on the Moon.
  • Demonstrations are held against the Vietnam War in the United States, Europe and Australia.
  • A treaty prohibiting the use of nuclear weapons in outer space is signed by the United States and the USSR.

Inflation Data Source

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 1966 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 20 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1966.


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