The consumer price index (CPI) in 1997 was 66.9. It was 66.7 in the previous year. This change in CPI is used by the Bureau of Statistics to calculate inflation.
According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 2.47% per year. Prices in 2018 are 66.97% higher than prices in 1997.
In other words, AU$100 in 1997 is equivalent in purchasing power to AU$166.97 in 2018, a difference of AU$66.97 over 21 years.
The current inflation rate is now 0.45%1. If this number holds, AU$100 today will be equivalent to AU$100.45 next year.
|Cumulative price change||66.97%|
|Average inflation rate||2.47%|
|Converted amount (AU$100 base)||AU$166.97|
|Price difference (AU$100 base)||AU$66.97|
|CPI in 1997||66.9|
|CPI in 2018||111.7|
This inflation calculator uses the following inflation rate formula:
CPI in 2018 / CPI in 1997 * 1997 AUD value = 2018 AUD value
Then plug in historical CPI values. The Australian CPI was 66.9 in the year 1997 and 111.7 in 2018:
111.7 / 66.9 * AU$100 = AU$166.97
AU$100 in 1997 has the same "purchasing power" or "buying power" as AU$166.97 in 2018.
This chart shows calculations of buying power equivalence over time for AU$100 in 1997 (price index tracking began in 1922).
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
|Year||AUD Value||Inflation Rate|
Politics and news often influence economic performance. Here's what was happening at the time:
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 1997 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Jul. 2018, https://www.officialdata.org/Australia-inflation-rate-in-1997.
in2013dollars.com is a reference website maintained by the Official Data Foundation.