Australian inflation rate in 2002: 3.08%

Australia Inflation Calculator

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Australian Inflation Rate, 2002-2018 (AU$1)

The consumer price index (CPI) in 2002 was 76.9. 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 2.34% per year. Prices in 2018 are 44.8% higher than prices in 2002.

In other words, AU$1 in the year 2002 is equivalent in purchasing power to AU$1.45 in 2018, a difference of AU$0.45 over 16 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 2002 to 2018
Cumulative price change 44.82%
Average inflation rate 2.34%
Price difference (AU$1 base) AU$0.45
CPI in 2002 76.9
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 2002

Start with the inflation rate formula:

CPI in 2018 / CPI in 2002 * 2002 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 76.9 in the year 2002 and 111.3692 in 2018:

111.3692 / 76.9 * AU$1 = AU$1.45

AU$1 in 2002 has the same "purchasing power" as AU$1.45 in 2018.


News headlines from 2002

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

  • United States deploys conventional forces as part of Operation Anaconda during the US invasion of Afghanistan.
  • Jimmy Carter visits Cuba, marking the first time an American president has visited the Island since 1959.
  • It is announced that Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia will become members of the European Union from May 1, 2004.

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 2002 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-2002.


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