Australian inflation rate in 1973: 9.09%

Australia Inflation Calculator

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Australian Inflation Rate, 1973-2018 (AU$1)

The consumer price index (CPI) in 1973 was 12. 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 5.08% per year. Prices in 2018 are 828.1% higher than prices in 1973.

In other words, AU$1 in the year 1973 is equivalent in purchasing power to AU$9.28 in 2018, a difference of AU$8.28 over 45 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 1973 to 2018
Cumulative price change 828.08%
Average inflation rate 5.08%
Price difference (AU$1 base) AU$8.28
CPI in 1973 12
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1973

Start with the inflation rate formula:

CPI in 2018 / CPI in 1973 * 1973 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 12 in the year 1973 and 111.3692 in 2018:

111.3692 / 12 * AU$1 = AU$9.28

AU$1 in 1973 has the same "purchasing power" as AU$9.28 in 2018.


News headlines from 1973

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

  • President Richard Nixon announces the end of the Vietnam War.
  • The longest war in American history finishes after William Rogers and Nguyen Duy Trinh of US and North Vietnam's army sign a cease-fire.
  • The IRA attacks London for the first time following the arrests of 10 of its members.
  • The Senate Watergate Committee begins its hearings.

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 1973 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1973.


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