Australian inflation rate in 1972: 5.77%

Australia Inflation Calculator

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Inflation in 1972 and Its Effect on Dollar Value

Purchasing power decreased by 5.77% in 1972 compared to the previous year, 1971. On average, you would have to spend 5.77% more money in 1972 than in 1971 for the same item.

In other words, AU$100 in 1971 is equivalent in purchasing power to AU$105.77 in 1972.

The 1971 inflation rate was 6.12%. The inflation rate in 1972 was 5.77%. The 1972 inflation rate is higher compared to the average inflation rate of 5.17% per year between 1972 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1972 was 11. It was 10.4 in the previous year, 1971. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1971 to 1972
Average inflation rate 5.77%
Converted amount (AU$100 base) AU$105.77
Price difference (AU$100 base) AU$5.77
CPI in 1971 10.4
CPI in 1972 11
Inflation in 1971 6.12%
Inflation in 1972 5.77%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$100, 1971 to 1972

This inflation calculator uses the following inflation rate formula:

CPI in 1972CPI in 1971
×
1971 AUD value
=
1972 AUD value

Then plug in historical CPI values. The Australian CPI was 10.4 in the year 1971 and 11 in 1972:

1110.4
×
AU$100
=
AU$105.77

AU$100 in 1971 has the same "purchasing power" or "buying power" as AU$105.77 in 1972.

To get the total inflation rate for the 1 years between 1971 and 1972, we use the following formula:

CPI in 1972 - CPI in 1971CPI in 1971
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

11 - 10.410.4
×
100
=
6%

News headlines from 1971

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

  • Idi Amin declares himself president of Uganda.
  • The Nasdaq Composite stock market index debuts with fifty companies and a starting value of 100.
  • Indian troops, aided by Bengali guerrillas under Mukti Bahini, are victorious over the Pakistan army, in the battle of Garibpur.

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 1972 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Sep. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1972.

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


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