Australian inflation rate in 1998: 0.75%

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Australian Inflation Rate, 1998-2017 (AU$1)

The consumer price index (CPI) in 1998 was 67.4. 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 2.58% per year. Prices in 2017 are 62.3% higher than prices in 1998.

In other words, AU$1 in the year 1998 is equivalent to AU$1.62 in 2017, a difference of AU$0.62 over 19 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 1998 to 2017
Cumulative price change 62.31%
Average inflation rate 2.58%
Price difference (AU$1 base) AU$0.62
CPI in 1998 67.4
CPI in 2017 109.4


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1998

Start with the inflation rate formula:

CPI in 2017 / CPI in 1998 * 1998 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 67.4 in the year 1998 and 109.4 in 2017:

109.4 / 67.4 * AU$1 = AU$1.62

AU$1 in 1998 has the same "purchasing power" as AU$1.62 in 2017.


News headlines from 1998

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

  • Osama Bin Laden declares a Jihad against Jews and Crusaders.
  • The Good Friday Agreement is accepted in a referendum in Northern Ireland.
  • President of the US Bill Clinton admits that he had an "improper physical relationship" with an intern and then denied it in the same day. The event has come to be known as the Monica Lewinsky scandal.

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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