Australian inflation rate in 1987: 8.41%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 1987-2018 (AU$1)

The consumer price index (CPI) in 1987 was 46.4. 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 2.86% per year. Prices in 2018 are 140.0% higher than prices in 1987.

In other words, AU$1 in the year 1987 is equivalent in purchasing power to AU$2.40 in 2018, a difference of AU$1.40 over 31 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 1987 to 2018
Cumulative price change 140.02%
Average inflation rate 2.86%
Price difference (AU$1 base) AU$1.40
CPI in 1987 46.4
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1987

Start with the inflation rate formula:

CPI in 2018 / CPI in 1987 * 1987 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 46.4 in the year 1987 and 111.3692 in 2018:

111.3692 / 46.4 * AU$1 = AU$2.40

AU$1 in 1987 has the same "purchasing power" as AU$2.40 in 2018.


News headlines from 1987

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

  • New Zealand becomes the only nation to legislate against nuclear power, when their Labour government legislates against nuclear weapons and nuclear powered vessels.
  • Margaret Thatcher becomes the first British PM in 160 years to win a third consecutive term in office.
  • The Dow Jones stock index falls by 508.32 points, the event is later known as Black Monday.

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 1987 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 20 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1987.


» Read more about inflation.