Australian inflation rate in 1976: 13.13%

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Australian Inflation Rate, 1976-2018 (AU$1)

The consumer price index (CPI) in 1976 was 18.1. 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 4.42% per year. Prices in 2018 are 515.3% higher than prices in 1976.

In other words, AU$1 in the year 1976 is equivalent in purchasing power to AU$6.15 in 2018, a difference of AU$5.15 over 42 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 1976 to 2018
Cumulative price change 515.30%
Average inflation rate 4.42%
Price difference (AU$1 base) AU$5.15
CPI in 1976 18.1
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1976

Start with the inflation rate formula:

CPI in 2018 / CPI in 1976 * 1976 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 18.1 in the year 1976 and 111.3692 in 2018:

111.3692 / 18.1 * AU$1 = AU$6.15

AU$1 in 1976 has the same "purchasing power" as AU$6.15 in 2018.


News headlines from 1976

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

  • Steve Jobs and Stebe Wozniak invent the Apple Computer in Job's parents' garage.
  • The US Viking 1 lands on Mars, becoming the first man-built object on the Red Planet.
  • Osvaldo Dorticos Torrado is replaced as Cuban President by Fidel Castro.

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 1976 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1976.


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