Australian inflation rate in 1977: 12.15%

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Australian Inflation Rate, 1977-2018 (AU$1)

The consumer price index (CPI) in 1977 was 20.3. 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 4.24% per year. Prices in 2018 are 448.6% higher than prices in 1977.

In other words, AU$1 in the year 1977 is equivalent in purchasing power to AU$5.49 in 2018, a difference of AU$4.49 over 41 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 1977 to 2018
Cumulative price change 448.62%
Average inflation rate 4.24%
Price difference (AU$1 base) AU$4.49
CPI in 1977 20.3
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1977

Start with the inflation rate formula:

CPI in 2018 / CPI in 1977 * 1977 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 20.3 in the year 1977 and 111.3692 in 2018:

111.3692 / 20.3 * AU$1 = AU$5.49

AU$1 in 1977 has the same "purchasing power" as AU$5.49 in 2018.


News headlines from 1977

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

  • Apple Computer incorperated by Steve Jobs, Steve Wozniak, and Ronald Wayne.
  • The Hindu Kubh Mela gathered 15,000,000 people, making it (at the time) the biggest crowd gathering in history.
  • First Apple II computers are shipped.
  • The last Guillotine execution was performed on Hamida Djandoubi, convicted torturer and murderer.

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 1977 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1977.


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