Australian inflation rate in 2003: 2.73%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 2003-2017 (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, the dollar experienced an average inflation rate of 2.35% per year. Prices in 2017 are 38.5% higher than prices in 2003.

In other words, AU$1 in the year 2003 is equivalent to AU$1.38 in 2017, a difference of AU$0.38 over 14 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 2003 to 2017
Cumulative price change 38.48%
Average inflation rate 2.35%
Price difference (AU$1 base) AU$0.38
CPI in 2003 79
CPI in 2017 109.4


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 2017 / CPI in 2003 * 2003 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 79 in the year 2003 and 109.4 in 2017:

109.4 / 79 * AU$1 = AU$1.38

The "purchasing power" of AU$1 from 2003 is AU$1.38 in 2017.


News headlines from 2003

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

  • 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: 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).


» Read more about inflation.