Australian inflation rate in 1996: 2.62%

Australia Inflation Calculator

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Australian Inflation Rate, 1996-2018 (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 consumer price index, the dollar experienced an average inflation rate of 2.36% per year. Prices in 2018 are 67.0% higher than prices in 1996.

In other words, AU$1 in the year 1996 is equivalent in purchasing power to AU$1.67 in 2018, a difference of AU$0.67 over 22 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 1996 to 2018
Cumulative price change 66.97%
Average inflation rate 2.36%
Price difference (AU$1 base) AU$0.67
CPI in 1996 66.7
CPI in 2018 111.3692


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 2018 / CPI in 1996 * 1996 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 66.7 in the year 1996 and 111.3692 in 2018:

111.3692 / 66.7 * AU$1 = AU$1.67

AU$1 in 1996 has the same "purchasing power" as AU$1.67 in 2018.


News headlines from 1996

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

  • 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

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 1996 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1996.


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