Australian inflation rate in 2000: 4.53%

Australia Inflation Calculator

AU$

Inflation in 2000 and Its Effect on Dollar Value

Purchasing power decreased by 4.53% in 2000 compared to the previous year, 1999. On average, you would have to spend 4.53% more money in 2000 than in 1999 for the same item.

In other words, AU$1 in 1999 is equivalent in purchasing power to AU$1.05 in 2000.

The 1999 inflation rate was 1.48%. The inflation rate in 2000 was 4.53%. The 2000 inflation rate is higher compared to the average inflation rate of 2.51% per year between 2000 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2000 was 71.5. It was 68.4 in the previous year, 1999. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1999 to 2000
Average inflation rate 4.53%
Converted amount (AU$1 base) AU$1.05
Price difference (AU$1 base) AU$0.05
CPI in 1999 68.400
CPI in 2000 71.500
Inflation in 1999 1.48%
Inflation in 2000 4.53%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$1, 1999 to 2000

This inflation calculator uses the following inflation rate formula:

CPI in 2000CPI in 1999
×
1999 AUD value
=
2000 AUD value

Then plug in historical CPI values. The Australian CPI was 68.4 in the year 1999 and 71.5 in 2000:

71.568.4
×
AU$1
=
AU$1.05

AU$1 in 1999 has the same "purchasing power" or "buying power" as AU$1.05 in 2000.

To get the total inflation rate for the 1 years between 1999 and 2000, we use the following formula:

CPI in 2000 - CPI in 1999CPI in 1999
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

71.5 - 68.468.4
×
100
=
5%

News headlines from 1999

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

  • NATO begins its bombardment of Yugoslavia in the Kosovo War marking the first time NATO attacked a sovereign country.
  • 13 killed, 24 injured in the Columbine High School Massacre.
  • Slobodan Milosevic and four others are indicted by the International Criminal Tribunal for former Yugoslavia, for war crimes and crimes against humanity committed in Kosovo.

Data Source & Citation

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 2000 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Dec. 2018, https://www.officialdata.org/Australia-inflation-rate-in-2000.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


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