Australian inflation rate in 2015: 1.51%

Australia Inflation Calculator

AU$

Inflation in 2015 and Its Effect on Dollar Value

Purchasing power decreased by 1.51% in 2015 compared to the previous year, 2014. On average, you would have to spend 1.51% more money in 2015 than in 2014 for the same item.

In other words, AU$100 in 2014 is equivalent in purchasing power to AU$101.51 in 2015.

The 2014 inflation rate was 2.51%. The inflation rate in 2015 was 1.51%. The 2015 inflation rate is higher compared to the average inflation rate of 1.22% per year between 2015 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2015 was 107.7. It was 106.1 in the previous year, 2014. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 2014 to 2015
Average inflation rate 1.51%
Converted amount (AU$100 base) AU$101.51
Price difference (AU$100 base) AU$1.51
CPI in 2014 106.1
CPI in 2015 107.7
Inflation in 2014 2.51%
Inflation in 2015 1.51%


AUD inflation chart from 1922 to 2017


How to Calculate Inflation Rate for AU$100, 2014 to 2015

This inflation calculator uses the following inflation rate formula:

CPI in 2015CPI in 2014
×
2014 AUD value
=
2015 AUD value

Then plug in historical CPI values. The Australian CPI was 106.1 in the year 2014 and 107.7 in 2015:

107.7106.1
×
AU$100
=
AU$101.51

AU$100 in 2014 has the same "purchasing power" or "buying power" as AU$101.51 in 2015.

To get the total inflation rate for the 1 years between 2014 and 2015, we use the following formula:

CPI in 2015 - CPI in 2014CPI in 2014
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

107.7 - 106.1106.1
×
100
=
2%

News headlines from 2014

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

  • Violent protests erupt in Kiev, leading to clashes between protestors and riot police: President Viktor Yanukovych is ousted five days later.
  • Russia formally annexes Crimea amid international condemnation.
  • ISIS forces occupy government buildings and other key strategic locations in the city of Mosul.
  • Malasya Airlines Flight 17 shot down by pro-Russian separatists in Eastern Ukraine by a Buk surface-to-air missile. All 283 passengers and 15 crew were killed.

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 2015 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Oct. 2018, https://www.officialdata.org/Australia-inflation-rate-in-2015.

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


» Read more about inflation.