Australian inflation rate in 1984: 3.95%

Australia Inflation Calculator

AU$

Inflation in 1984 and Its Effect on Dollar Value

Purchasing power decreased by 3.95% in 1984 compared to the previous year, 1983. On average, you would have to spend 3.95% more money in 1984 than in 1983 for the same item.

In other words, AU$100 in 1983 is equivalent in purchasing power to AU$103.95 in 1984.

The 1983 inflation rate was 10.28%. The inflation rate in 1984 was 3.95%. The 1984 inflation rate is higher compared to the average inflation rate of 3.32% per year between 1984 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1984 was 36.8. It was 35.4 in the previous year, 1983. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1983 to 1984
Average inflation rate 3.95%
Converted amount (AU$100 base) AU$103.95
Price difference (AU$100 base) AU$3.95
CPI in 1983 35.4
CPI in 1984 36.8
Inflation in 1983 10.28%
Inflation in 1984 3.95%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$100, 1983 to 1984

This inflation calculator uses the following inflation rate formula:

CPI in 1984CPI in 1983
×
1983 AUD value
=
1984 AUD value

Then plug in historical CPI values. The Australian CPI was 35.4 in the year 1983 and 36.8 in 1984:

36.835.4
×
AU$100
=
AU$103.95

AU$100 in 1983 has the same "purchasing power" or "buying power" as AU$103.95 in 1984.

To get the total inflation rate for the 1 years between 1983 and 1984, we use the following formula:

CPI in 1984 - CPI in 1983CPI in 1983
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

36.8 - 35.435.4
×
100
=
4%

News headlines from 1983

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

  • 26 million pounds in gold, diamonds and cash is stolen from Brink's-Mat warehouse at Heathrow Airport in London, which is considered to be one of the world's greatest robberies.
  • Ronald Reagan ends the United States embargo against Guatemala.

Data Source & Citation

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 1984 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Oct. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1984.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.