Australian inflation rate in 1966: 2.38%

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Australian Inflation Rate, 1966-2017 (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, the dollar experienced an average inflation rate of 5.11% per year. Prices in 2017 are 1172.1% higher than prices in 1966.

In other words, AU$1 in the year 1966 is equivalent to AU$12.72 in 2017, a difference of AU$11.72 over 51 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 1966 to 2017
Cumulative price change 1172.09%
Average inflation rate 5.11%
Price difference (AU$1 base) AU$11.72
CPI in 1966 8.6
CPI in 2017 109.4


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 2017 / CPI in 1966 * 1966 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 8.6 in the year 1966 and 109.4 in 2017:

109.4 / 8.6 * AU$1 = AU$12.72

AU$1 in 1966 has the same "purchasing power" as AU$12.72 in 2017.


News headlines from 1966

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

  • 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: 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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