Australian inflation rate in 1968: 3.37%

Australia Inflation Calculator

AU$

Inflation since 1968 and its effect on dollar value

The consumer price index (CPI) in 1968 was 9.2. It was 8.9 in the previous year. This change in CPI is used by the Bureau of Statistics to calculate inflation.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 5.12% per year. Prices in 2018 are 1,114.13% higher than prices in 1968.

In other words, AU$100 in 1968 is equivalent in purchasing power to AU$1,214.13 in 2018, a difference of AU$1,114.13 over 50 years.

The current inflation rate is now 0.45%1. If this number holds, AU$100 today will be equivalent to AU$100.45 next year.

Inflation from 1968 to 2018
Cumulative price change 1114.13%
Average inflation rate 5.12%
Converted amount (AU$100 base) AU$1,214.13
Price difference (AU$100 base) AU$1,114.13
CPI in 1968 9.2
CPI in 2018 111.7


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100 since 1968

This inflation calculator uses the following 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 111.7 in 2018:

111.7 / 9.2 * AU$100 = AU$1,214.13

AU$100 in 1968 has the same "purchasing power" or "buying power" as AU$1,214.13 in 2018.


Buying power of AU$100 since 1968

This chart shows calculations of buying power equivalence over time for AU$100 in 1968 (price index tracking began in 1922).

According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:

Year AUD Value Inflation Rate
1968 AU$100.00 3.37%
1969 AU$103.26 3.26%
1970 AU$106.52 3.16%
1971 AU$113.04 6.12%
1972 AU$119.57 5.77%
1973 AU$130.43 9.09%
1974 AU$151.09 15.83%
1975 AU$173.91 15.11%
1976 AU$196.74 13.13%
1977 AU$220.65 12.15%
1978 AU$238.04 7.88%
1979 AU$259.78 9.13%
1980 AU$286.96 10.46%
1981 AU$314.13 9.47%
1982 AU$348.91 11.07%
1983 AU$384.78 10.28%
1984 AU$400.00 3.95%
1985 AU$426.09 6.52%
1986 AU$465.22 9.18%
1987 AU$504.35 8.41%
1988 AU$541.30 7.33%
1989 AU$581.52 7.43%
1990 AU$625.00 7.48%
1991 AU$644.57 3.13%
1992 AU$651.09 1.01%
1993 AU$661.96 1.67%
1994 AU$675.00 1.97%
1995 AU$706.52 4.67%
1996 AU$725.00 2.62%
1997 AU$727.17 0.30%
1998 AU$732.61 0.75%
1999 AU$743.48 1.48%
2000 AU$777.17 4.53%
2001 AU$810.87 4.34%
2002 AU$835.87 3.08%
2003 AU$858.70 2.73%
2004 AU$878.26 2.28%
2005 AU$902.17 2.72%
2006 AU$933.70 3.49%
2007 AU$955.43 2.33%
2008 AU$997.83 4.44%
2009 AU$1,015.22 1.74%
2010 AU$1,044.57 2.89%
2011 AU$1,079.35 3.33%
2012 AU$1,097.83 1.71%
2013 AU$1,125.00 2.48%
2014 AU$1,153.26 2.51%
2015 AU$1,170.65 1.51%
2016 AU$1,185.87 1.30%
2017 AU$1,208.70 1.92%
2018 AU$1,214.13 0.45%*
* Not final. See inflation summary for latest details.

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.

Data Source & Citation

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.” U.S. Official Inflation Data, Alioth Finance, 17 Jul. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1968.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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