$1 in 1950 is equivalent in purchasing power to about $1.64 in 1957, an increase of $0.64 over 7 years. The dollar had an average inflation rate of 7.29% per year between 1950 and 1957, producing a cumulative price increase of 63.64%.
This means that prices in 1957 are 1.64 times as high as average prices since 1950, according to the Bureau of Statistics consumer price index.
The inflation rate in 1950 was 10.00%. The inflation rate in 1957 was 2.86%. The 1957 inflation rate is lower compared to the average inflation rate of 4.48% per year between 1957 and 2024.
Cumulative price change | 63.64% |
Average inflation rate | 7.29% |
Converted amount $1 base | $1.64 |
Price difference $1 base | $0.64 |
CPI in 1950 | 4.400 |
CPI in 1957 | 7.200 |
Inflation in 1950 | 10.00% |
Inflation in 1957 | 2.86% |
$1 in 1950 | $1.64 in 1957 |
This chart shows a calculation of buying power equivalence for $1 in 1950 (price index tracking began in 1922).
For example, if you started with $1, you would need to end with $1.64 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.64 over time, that means that the "real value" of a single Australian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.
This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1950 dollars, the chart below shows how $1 is worth less over 7 years.
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
This conversion table shows various other 1950 amounts in 1957 dollars, based on the 63.64% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1950 | $1.64 dollars in 1957 |
$5 dollars in 1950 | $8.18 dollars in 1957 |
$10 dollars in 1950 | $16.36 dollars in 1957 |
$50 dollars in 1950 | $81.82 dollars in 1957 |
$100 dollars in 1950 | $163.64 dollars in 1957 |
$500 dollars in 1950 | $818.18 dollars in 1957 |
$1,000 dollars in 1950 | $1,636.36 dollars in 1957 |
$5,000 dollars in 1950 | $8,181.82 dollars in 1957 |
$10,000 dollars in 1950 | $16,363.64 dollars in 1957 |
$50,000 dollars in 1950 | $81,818.18 dollars in 1957 |
$100,000 dollars in 1950 | $163,636.36 dollars in 1957 |
$500,000 dollars in 1950 | $818,181.82 dollars in 1957 |
$1,000,000 dollars in 1950 | $1,636,363.64 dollars in 1957 |
Our calculations use the following inflation rate formula to calculate the change in value between 1950 and 1957:
Then plug in historical CPI values. The Australian CPI was 4.4 in the year 1950 and 7.2 in 1957:
$1 in 1950 has the same "purchasing power" or "buying power" as $1.64 in 1957.
To get the total inflation rate for the 7 years between 1950 and 1957, we use the following formula:
Plugging in the values to this equation, we get:
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: “$1 in 1950 → 1957 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 May. 2024, https://www.officialdata.org/australia/inflation/1950?amount=1&endYear=1957.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
Cumulative price change | 63.64% |
Average inflation rate | 7.29% |
Converted amount $1 base | $1.64 |
Price difference $1 base | $0.64 |
CPI in 1950 | 4.400 |
CPI in 1957 | 7.200 |
Inflation in 1950 | 10.00% |
Inflation in 1957 | 2.86% |
$1 in 1950 | $1.64 in 1957 |