Australian inflation rate in 1994: 1.97%

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Australian Inflation Rate, 1994-2018 (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 consumer price index, the dollar experienced an average inflation rate of 2.46% per year. Prices in 2018 are 79.3% higher than prices in 1994.

In other words, AU$1 in the year 1994 is equivalent in purchasing power to AU$1.79 in 2018, a difference of AU$0.79 over 24 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 1994 to 2018
Cumulative price change 79.34%
Average inflation rate 2.46%
Price difference (AU$1 base) AU$0.79
CPI in 1994 62.1
CPI in 2018 111.3692


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 2018 / CPI in 1994 * 1994 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 62.1 in the year 1994 and 111.3692 in 2018:

111.3692 / 62.1 * AU$1 = AU$1.79

AU$1 in 1994 has the same "purchasing power" as AU$1.79 in 2018.


News headlines from 1994

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

  • 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

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 1994 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1994.


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