Australian inflation rate in 1970: 3.16%

Australia Inflation Calculator

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Australian Inflation Rate, 1970-2017 (AU$1)

The consumer price index (CPI) in 1970 was 9.8. 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 5.27% per year. Prices in 2017 are 1016.3% higher than prices in 1970.

In other words, AU$1 in the year 1970 is equivalent to AU$11.16 in 2017, a difference of AU$10.16 over 47 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 1970 to 2017
Cumulative price change 1016.33%
Average inflation rate 5.27%
Price difference (AU$1 base) AU$10.16
CPI in 1970 9.8
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1970

Start with the inflation rate formula:

CPI in 2017 / CPI in 1970 * 1970 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 9.8 in the year 1970 and 109.4 in 2017:

109.4 / 9.8 * AU$1 = AU$11.16

AU$1 in 1970 has the same "purchasing power" as AU$11.16 in 2017.


News headlines from 1970

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

  • 1/1/1970 established as Epoch time for UNIX systems.
  • Rhodesia declares independence and sets up a republican government.
  • Aswan Dam opens in Egypt to prevent flooding of the Nile River.
  • A Palestinian terrorist organization, hijacks three aircraft, in an incident that is later known as Black September.

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 1970 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/Australia-inflation-rate-in-1970.


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