Australian inflation rate in 1968: 3.37%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1968-2018 (AU$1)

The consumer price index (CPI) in 1968 was 9.2. 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 5.11% per year. Prices in 2018 are 1110.5% higher than prices in 1968.

In other words, AU$1 in the year 1968 is equivalent in purchasing power to AU$12.11 in 2018, a difference of AU$11.11 over 50 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 1968 to 2018
Cumulative price change 1110.53%
Average inflation rate 5.11%
Price difference (AU$1 base) AU$11.11
CPI in 1968 9.2
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1968

Start with the inflation rate formula:

CPI in 2018 / CPI in 1968 * 1968 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 9.2 in the year 1968 and 111.3692 in 2018:

111.3692 / 9.2 * AU$1 = AU$12.11

AU$1 in 1968 has the same "purchasing power" as AU$12.11 in 2018.


News headlines from 1968

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

  • The Battle of Khe Sanh begins it is one of the most controversial battles of the Vietnam War.
  • A photograph that later became an anti-war icon, is taken: it captures Saigon police chief Nguyễn Ngọc Loan executing Viet Cong officer Nguyễn Văn Lém with a pistol shot to the head.
  • Martin Luther King Jr is assassinated in Memphis, Tennessee.
  • France becomes the world's 5th thermonuclear power after the Mururoa Atoll detonation.

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 1968 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1968.


» Read more about inflation.