Australian inflation rate in 1978: 7.88%

Australia Inflation Calculator


Australian Inflation Rate, 1978-2017 (AU$1)

The consumer price index (CPI) in 1978 was 21.9. 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 4.21% per year. Prices in 2017 are 399.5% higher than prices in 1978.

In other words, AU$1 in the year 1978 is equivalent to AU$5.00 in 2017, a difference of AU$4.00 over 39 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 1978 to 2017
Cumulative price change 399.54%
Average inflation rate 4.21%
Price difference (AU$1 base) AU$4.00
CPI in 1978 21.9
CPI in 2017 109.4

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1978

Start with the inflation rate formula:

CPI in 2017 / CPI in 1978 * 1978 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 21.9 in the year 1978 and 109.4 in 2017:

109.4 / 21.9 * AU$1 = AU$5.00

The "purchasing power" of AU$1 from 1978 is AU$5.00 in 2017.

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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