Australian inflation rate in 1989: 7.43%

Australia Inflation Calculator

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Australian Inflation Rate, 1989-2018 (AU$1)

The consumer price index (CPI) in 1989 was 53.5. 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 2.56% per year. Prices in 2018 are 108.2% higher than prices in 1989.

In other words, AU$1 in the year 1989 is equivalent in purchasing power to AU$2.08 in 2018, a difference of AU$1.08 over 29 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 1989 to 2018
Cumulative price change 108.17%
Average inflation rate 2.56%
Price difference (AU$1 base) AU$1.08
CPI in 1989 53.5
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1989

Start with the inflation rate formula:

CPI in 2018 / CPI in 1989 * 1989 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 53.5 in the year 1989 and 111.3692 in 2018:

111.3692 / 53.5 * AU$1 = AU$2.08

AU$1 in 1989 has the same "purchasing power" as AU$2.08 in 2018.


News headlines from 1989

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

  • Chinese troops kill an estimated 1,000 students protesting at Tiananmen Square.
  • The first (partially) free elections take place in Poland, bringing democracy to Eastern Europe for the first time in 40 years. (Won by the Solidarity Party)
  • The demolition of the Berlin Wall begins.
  • Presidents George H. W. Bush and Mikhail Gorbachev, declare that the Cold War has ended.

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 1989 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1989.


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