Australian inflation rate in 1993: 1.67%

Australia Inflation Calculator

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Australian Inflation Rate, 1993-2018 (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 consumer price index, the dollar experienced an average inflation rate of 2.44% per year. Prices in 2018 are 82.9% higher than prices in 1993.

In other words, AU$1 in the year 1993 is equivalent in purchasing power to AU$1.83 in 2018, a difference of AU$0.83 over 25 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 1993 to 2018
Cumulative price change 82.87%
Average inflation rate 2.44%
Price difference (AU$1 base) AU$0.83
CPI in 1993 60.9
CPI in 2018 111.3692


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 2018 / CPI in 1993 * 1993 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 60.9 in the year 1993 and 111.3692 in 2018:

111.3692 / 60.9 * AU$1 = AU$1.83

AU$1 in 1993 has the same "purchasing power" as AU$1.83 in 2018.


News headlines from 1993

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

  • 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

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 1993 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 21 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1993.


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