Australian inflation rate in 2002: 3.08%

Australia Inflation Calculator


Australian Inflation Rate, 2002-2017 (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, the dollar experienced an average inflation rate of 2.38% per year. Prices in 2017 are 42.3% higher than prices in 2002.

In other words, AU$1 in the year 2002 is equivalent to AU$1.42 in 2017, a difference of AU$0.42 over 15 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 2002 to 2017
Cumulative price change 42.26%
Average inflation rate 2.38%
Price difference (AU$1 base) AU$0.42
CPI in 2002 76.9
CPI in 2017 109.4

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 2017 / CPI in 2002 * 2002 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 76.9 in the year 2002 and 109.4 in 2017:

109.4 / 76.9 * AU$1 = AU$1.42

AU$1 in 2002 has the same "purchasing power" as AU$1.42 in 2017.

News headlines from 2002

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

  • 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: 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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