Australian inflation rate in 1988: 7.33%

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Australian Inflation Rate, 1988-2018 (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 consumer price index, the dollar experienced an average inflation rate of 2.72% per year. Prices in 2018 are 123.6% higher than prices in 1988.

In other words, AU$1 in the year 1988 is equivalent in purchasing power to AU$2.24 in 2018, a difference of AU$1.24 over 30 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 1988 to 2018
Cumulative price change 123.63%
Average inflation rate 2.72%
Price difference (AU$1 base) AU$1.24
CPI in 1988 49.8
CPI in 2018 111.3692


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 2018 / CPI in 1988 * 1988 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 49.8 in the year 1988 and 111.3692 in 2018:

111.3692 / 49.8 * AU$1 = AU$2.24

AU$1 in 1988 has the same "purchasing power" as AU$2.24 in 2018.


News headlines from 1988

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

  • 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

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 1988 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1988.


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