Australian inflation rate in 2016: 0.93%

Australia Inflation Calculator

AU$

Australian Inflation Rate, 2016-2018 (AU$1)

The consumer price index (CPI) in 2016 was 108.7. 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 1.22% per year. Prices in 2018 are 2.5% higher than prices in 2016.

In other words, AU$1 in the year 2016 is equivalent in purchasing power to AU$1.02 in 2018, a difference of AU$0.02 over 2 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 2016 to 2018
Cumulative price change 2.46%
Average inflation rate 1.22%
Price difference (AU$1 base) AU$0.02
CPI in 2016 108.7
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 2016

Start with the inflation rate formula:

CPI in 2018 / CPI in 2016 * 2016 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 108.7 in the year 2016 and 111.3692 in 2018:

111.3692 / 108.7 * AU$1 = AU$1.02

AU$1 in 2016 has the same "purchasing power" as AU$1.02 in 2018.


News headlines from 2016

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

  • The United Kingdom votes to leave the European Union in a referendum, prompting Prime Minister David Cameron to resign.
  • Donald Trump becomes the 45th President of the United States.
  • The World Health Organisation confirms the outbreak of the Zika virus.
  • Andrei Karlov, the Russian ambassador to Turkey, is assassinated.

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 2016 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Jan. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-2016.


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