Australian inflation rate in 1993: 1.67%

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Australian Inflation Rate, 1993-2017 (AU$1)

The consumer price index (CPI) in 1993 was 60.9. 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 2.47% per year. Prices in 2017 are 79.6% higher than prices in 1993.

In other words, AU$1 in the year 1993 is equivalent to AU$1.80 in 2017, a difference of AU$0.80 over 24 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 1993 to 2017
Cumulative price change 79.64%
Average inflation rate 2.47%
Price difference (AU$1 base) AU$0.80
CPI in 1993 60.9
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1993

Start with the inflation rate formula:

CPI in 2017 / CPI in 1993 * 1993 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 60.9 in the year 1993 and 109.4 in 2017:

109.4 / 60.9 * AU$1 = AU$1.80

AU$1 in 1993 has the same "purchasing power" as AU$1.80 in 2017.


News headlines from 1993

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

  • Letters of mutual recognition are exchanged between Israel and the Palestine Liberation Organization.
  • The Nobel Peace Prize is awarded to Nelson Mandela and South African President de Klerk.
  • A new democratic constitution is approved by black and white leaders in South Africa.

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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