Australian inflation rate in 1967: 3.49%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1967-2017 (AU$1)

The consumer price index (CPI) in 1967 was 8.9. 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 5.15% per year. Prices in 2017 are 1129.2% higher than prices in 1967.

In other words, AU$1 in the year 1967 is equivalent to AU$12.29 in 2017, a difference of AU$11.29 over 50 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 1967 to 2017
Cumulative price change 1129.21%
Average inflation rate 5.15%
Price difference (AU$1 base) AU$11.29
CPI in 1967 8.9
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1967

Start with the inflation rate formula:

CPI in 2017 / CPI in 1967 * 1967 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 8.9 in the year 1967 and 109.4 in 2017:

109.4 / 8.9 * AU$1 = AU$12.29

The "purchasing power" of AU$1 from 1967 is AU$12.29 in 2017.


News headlines from 1967

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

  • The largest US airborne assault since WWII occurs in Vietnam, known as Operation Junction City: 25,000 United States and South Vietnamese troops attack the Viet Cong.
  • The world's first ATM machine is installed in London.
  • The 6-day War begins between Israel and the Arabs.

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.