Australian inflation rate in 1977: 12.15%

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Australian Inflation Rate, 1977-2017 (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, the dollar experienced an average inflation rate of 4.30% per year. Prices in 2017 are 438.9% higher than prices in 1977.

In other words, AU$1 in the year 1977 is equivalent to AU$5.39 in 2017, a difference of AU$4.39 over 40 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 1977 to 2017
Cumulative price change 438.92%
Average inflation rate 4.30%
Price difference (AU$1 base) AU$4.39
CPI in 1977 20.3
CPI in 2017 109.4


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 2017 / CPI in 1977 * 1977 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 20.3 in the year 1977 and 109.4 in 2017:

109.4 / 20.3 * AU$1 = AU$5.39

AU$1 in 1977 has the same "purchasing power" as AU$5.39 in 2017.


News headlines from 1977

Politics and news often play an important role in economic performance.

  • 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: 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).


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