Australian inflation rate in 1968: 3.37%

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Australian Inflation Rate, 1968-2017 (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, the dollar experienced an average inflation rate of 5.18% per year. Prices in 2017 are 1089.1% higher than prices in 1968.

In other words, AU$1 in the year 1968 is equivalent to AU$11.89 in 2017, a difference of AU$10.89 over 49 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 1968 to 2017
Cumulative price change 1089.13%
Average inflation rate 5.18%
Price difference (AU$1 base) AU$10.89
CPI in 1968 9.2
CPI in 2017 109.4


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 2017 / CPI in 1968 * 1968 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 9.2 in the year 1968 and 109.4 in 2017:

109.4 / 9.2 * AU$1 = AU$11.89

AU$1 in 1968 has the same "purchasing power" as AU$11.89 in 2017.


News headlines from 1968

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

  • 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: 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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