Australian inflation rate in 2004: 2.28%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 2004-2018 (AU$1)

The consumer price index (CPI) in 2004 was 80.8. 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 37.8% higher than prices in 2004.

In other words, AU$1 in the year 2004 is equivalent in purchasing power to AU$1.38 in 2018, a difference of AU$0.38 over 14 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 2004 to 2018
Cumulative price change 37.83%
Average inflation rate 2.32%
Price difference (AU$1 base) AU$0.38
CPI in 2004 80.8
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 2004

Start with the inflation rate formula:

CPI in 2018 / CPI in 2004 * 2004 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 80.8 in the year 2004 and 111.3692 in 2018:

111.3692 / 80.8 * AU$1 = AU$1.38

AU$1 in 2004 has the same "purchasing power" as AU$1.38 in 2018.


News headlines from 2004

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

  • The Humanitarian Ceasefire Agreement is signed by the Sudanese government and two rebel groups.
  • Massachusetts becomes the first United States state to legalize same-sex marriage.
  • The Indonesian elections are won by Susilo Bambang Yudhoyono.

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 2004 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-2004.


» Read more about inflation.