Australian inflation rate in 2007: 2.33%

Australia Inflation Calculator

AU$

Inflation since 2007 and its effect on dollar value

The consumer price index (CPI) in 2007 was 87.9. It was 85.9 in the previous year. This change in CPI is used by the Bureau of Statistics to calculate inflation.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 2.20% per year. Prices in 2018 are 27.08% higher than prices in 2007.

In other words, AU$100 in 2007 is equivalent in purchasing power to AU$127.08 in 2018, a difference of AU$27.08 over 11 years.

The current inflation rate is now 0.45%1. If this number holds, AU$100 today will be equivalent to AU$100.45 next year.

Inflation from 2007 to 2018
Cumulative price change 27.08%
Average inflation rate 2.20%
Converted amount (AU$100 base) AU$127.08
Price difference (AU$100 base) AU$27.08
CPI in 2007 87.9
CPI in 2018 111.7


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$100 since 2007

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 2007 * 2007 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 87.9 in the year 2007 and 111.7 in 2018:

111.7 / 87.9 * AU$100 = AU$127.08

AU$100 in 2007 has the same "purchasing power" or "buying power" as AU$127.08 in 2018.


Buying power of AU$100 since 2007

This chart shows calculations of buying power equivalence over time for AU$100 in 2007 (price index tracking began in 1922).

According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:

Year AUD Value Inflation Rate
2007 AU$100.00 2.33%
2008 AU$104.44 4.44%
2009 AU$106.26 1.74%
2010 AU$109.33 2.89%
2011 AU$112.97 3.33%
2012 AU$114.90 1.71%
2013 AU$117.75 2.48%
2014 AU$120.71 2.51%
2015 AU$122.53 1.51%
2016 AU$124.12 1.30%
2017 AU$126.51 1.92%
2018 AU$127.08 0.45%*
* Not final. See inflation summary for latest details.

News headlines from 2007

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

  • The British Army withdraws from Northern Ireland, marking the end of, operation Banner - the longest operation in British military history.
  • The South Korean President enters North Korea, crossing the Military Demarcation Line, to the second Inter-Korean Summit with the leader of North Korea.
  • Bulgaria and Romania join the European Union. Aside from Irish, languages of the two countries become official EU languages, amongst 20 others.
  • Slovenia becomes the 13th Eurozone country, after adopting the Euro currency.

Data Source & Citation

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 2007 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Jul. 2018, https://www.officialdata.org/Australia-inflation-rate-in-2007.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.