Australian inflation rate in 1994: 1.97%

Australia Inflation Calculator


Australian Inflation Rate, 1994-2017 (AU$1)

The consumer price index (CPI) in 1994 was 62.1. 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 2.49% per year. Prices in 2017 are 76.2% higher than prices in 1994.

In other words, AU$1 in the year 1994 is equivalent to AU$1.76 in 2017, a difference of AU$0.76 over 23 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 1994 to 2017
Cumulative price change 76.17%
Average inflation rate 2.49%
Price difference (AU$1 base) AU$0.76
CPI in 1994 62.1
CPI in 2017 109.4

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1994

Start with the inflation rate formula:

CPI in 2017 / CPI in 1994 * 1994 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 62.1 in the year 1994 and 109.4 in 2017:

109.4 / 62.1 * AU$1 = AU$1.76

AU$1 in 1994 has the same "purchasing power" as AU$1.76 in 2017.

News headlines from 1994

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

  • The Rwandan Genocide begins as an aircraft is shot down while carrying Rwandan and Butundian presidents, Juvenal Habyarimana and Cyprien Ntaryamira
  • Nelson Mandela becomes South Africa's first black president.
  • The IRA declares a ceasefire.
  • Guantanamo Naval Base is re-opened for refugee processing.

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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