Purchasing power decreased by 10.46% in 1980 compared to the previous year, 1979. On average, you would have to spend 10.46% more money in 1980 than in 1979 for the same item.
In other words, AU$1 in 1979 is equivalent in purchasing power to AU$1.10 in 1980.
The 1979 inflation rate was 9.13%. The inflation rate in 1980 was 10.46%. The 1980 inflation rate is higher compared to the average inflation rate of 3.87% per year between 1980 and 2018.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1980 was 26.4. It was 23.9 in the previous year, 1979. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
|Average inflation rate||10.46%|
|Converted amount (AU$1 base)||AU$1.10|
|Price difference (AU$1 base)||AU$0.10|
|CPI in 1979||23.900|
|CPI in 1980||26.400|
|Inflation in 1979||9.13%|
|Inflation in 1980||10.46%|
This inflation calculator uses the following inflation rate formula:
Then plug in historical CPI values. The Australian CPI was 23.9 in the year 1979 and 26.4 in 1980:
AU$1 in 1979 has the same "purchasing power" or "buying power" as AU$1.10 in 1980.
To get the total inflation rate for the 1 years between 1979 and 1980, we use the following formula:
Plugging in the values to this equation, we get:
Politics and news often influence economic performance. Here's what was happening at the time:
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 1980 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Nov. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1980.
in2013dollars.com is a reference website maintained by the Official Data Foundation.