Australian inflation rate in 1997: 0.30%

Australia Inflation Calculator

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Australian Inflation Rate, 1997-2018 (AU$1)

The consumer price index (CPI) in 1997 was 66.9. 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 66.5% higher than prices in 1997.

In other words, AU$1 in the year 1997 is equivalent in purchasing power to AU$1.66 in 2018, a difference of AU$0.66 over 21 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 1997 to 2018
Cumulative price change 66.47%
Average inflation rate 2.46%
Price difference (AU$1 base) AU$0.66
CPI in 1997 66.9
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1997

Start with the 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 111.3692 in 2018:

111.3692 / 66.9 * AU$1 = AU$1.66

AU$1 in 1997 has the same "purchasing power" as AU$1.66 in 2018.


News headlines from 1997

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

  • Production, stockpiling and use of chemical weapons is outlawed as the Chemical Weapons Convention of 1993 comes into force.
  • The British lease of the New Territories in Hong Kong expires.
  • Diana, Princess of Wales, dies in a car crash in Paris,.
  • Hong Kong begins slaughtering chickens to prevent bird flu,.

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 1997 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1997.


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