Australian inflation rate in 1996: 2.62%

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Australian Inflation Rate, 1996-2017 (AU$1)

The consumer price index (CPI) in 1996 was 66.7. 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 2.38% per year. Prices in 2017 are 64.0% higher than prices in 1996.

In other words, AU$1 in the year 1996 is equivalent to AU$1.64 in 2017, a difference of AU$0.64 over 21 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 1996 to 2017
Cumulative price change 64.02%
Average inflation rate 2.38%
Price difference (AU$1 base) AU$0.64
CPI in 1996 66.7
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1996

Start with the inflation rate formula:

CPI in 2017 / CPI in 1996 * 1996 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 66.7 in the year 1996 and 109.4 in 2017:

109.4 / 66.7 * AU$1 = AU$1.64

AU$1 in 1996 has the same "purchasing power" as AU$1.64 in 2017.


News headlines from 1996

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

  • The Motorola StarTAC, the first clamshell flip phone, goes on sale worldwide.
  • Osama bin Laden issues "A declaration of war against the Americans occupying the land of the two holy places".
  • Bill Clinton signs the Welfare Reform Bill into law.

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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