Australian inflation rate in 1988: 7.33%

Australia Inflation Calculator


Australian Inflation Rate, 1988-2017 (AU$1)

The consumer price index (CPI) in 1988 was 49.8. 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 2.75% per year. Prices in 2017 are 119.7% higher than prices in 1988.

In other words, AU$1 in the year 1988 is equivalent to AU$2.20 in 2017, a difference of AU$1.20 over 29 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 1988 to 2017
Cumulative price change 119.68%
Average inflation rate 2.75%
Price difference (AU$1 base) AU$1.20
CPI in 1988 49.8
CPI in 2017 109.4

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1988

Start with the inflation rate formula:

CPI in 2017 / CPI in 1988 * 1988 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 49.8 in the year 1988 and 109.4 in 2017:

109.4 / 49.8 * AU$1 = AU$2.20

The "purchasing power" of AU$1 from 1988 is AU$2.20 in 2017.

News headlines from 1988

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

  • The USSR withdraws its troops from Afghanistan.
  • Iran and Iraq, announce a ceasefire after 8 years of war.
  • Approximately 50,000 Kurdish civilians and soldiers are killed by Iraq.
  • Mikhail Gorbachev Chairman becomes president of the USSR.
  • Benazir Bhutto becomes the first female leader of a Muslim country in Pakistan

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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