Australia Inflation Calculator
Australian Inflation Rate, 2017-2018 (AU$1)
The consumer price index (CPI) in 2017 was 109.4. 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 1.80% per year. Prices in 2018 are 1.8% higher than prices in 2017.
In other words, AU$1 in the year 2017 is equivalent in purchasing power to AU$1.02 in 2018, a difference of AU$0.02 over 1 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.
| Cumulative price change | 1.80% |
| Average inflation rate | 1.80% |
| Price difference (AU$1 base) | AU$0.02 |
| CPI in 2017 | 109.4 |
| CPI in 2018 | 111.3692 |
How to calculate the inflation rate for AU$1 since 2017
Start with the inflation rate formula:CPI in 2018 / CPI in 2017 * 2017 AUD value = 2018 AUD value
Then plug in historical CPI values. The Australian CPI was 109.4 in the year 2017 and 111.3692 in 2018:
111.3692 / 109.4 * AU$1 = AU$1.02
AU$1 in 2017 has the same "purchasing power" as AU$1.02 in 2018.
News headlines from 2017
Politics and news often influence economic performance. Here's what was happening at the time:
- Donald Trump sworn in as the 45th president of the United States.
- Hurricanes Harvey and Irma strike southeast Texas and Florida, causing extensive flooding and damage.
- Gunman kills 58 people at a Las Vegas concert, making it the deadliest mass shooting in modern U.S. history.
- North Korea tests a hydrogen bomb and over a dozen ballistic missiles amidst soaring tensions with the U.S.
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 2017 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 22 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-2017.