Australian inflation rate in 2003: 2.73%

Australia Inflation Calculator


Australian Inflation Rate, 2003-2018 (AU$1)

The consumer price index (CPI) in 2003 was 79. 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 2.32% per year. Prices in 2018 are 41.0% higher than prices in 2003.

In other words, AU$1 in the year 2003 is equivalent in purchasing power to AU$1.41 in 2018, a difference of AU$0.41 over 15 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 2003 to 2018
Cumulative price change 40.97%
Average inflation rate 2.32%
Price difference (AU$1 base) AU$0.41
CPI in 2003 79
CPI in 2018 111.3692

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 2003

Start with the inflation rate formula:

CPI in 2018 / CPI in 2003 * 2003 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 79 in the year 2003 and 111.3692 in 2018:

111.3692 / 79 * AU$1 = AU$1.41

AU$1 in 2003 has the same "purchasing power" as AU$1.41 in 2018.

News headlines from 2003

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

  • Despite a lack of support from the United Nations, a coalition lead by America and Britain invades Iraq.
  • Baghdad falls, ending the invasion of Iraq.
  • 10 new members are admitted to the European Union after signing the Treaty of Accession in Athens.

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 2003 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018,

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