$100 in 1923 is worth $2,117.86 in 1991

Value of $100 from 1923 to 1991

According to the Bureau of Statistics consumer price index, prices in 1991 are 2,017.86% higher than average prices since 1923. The Australian dollar experienced an average inflation rate of 4.59% per year during this period, causing the real value of a dollar to decrease.

In other words, $100 in 1923 is equivalent in purchasing power to about $2,117.86 in 1991, a difference of $2,017.86 over 68 years.

The 1923 inflation rate was 0.00%. The inflation rate in 1991 was 3.13%. The 1991 inflation rate is higher compared to the average inflation rate of 2.37% per year between 1991 and 2020.


Inflation from 1923 to 1991
Cumulative price change 2,017.86%
Average inflation rate 4.59%
Converted amount ($100 base) $2,117.86
Price difference ($100 base) $2,017.86
CPI in 1923 2.800
CPI in 1991 59.300
Inflation in 1923 0.00%
Inflation in 1991 3.13%

AUD Inflation since 1922
Annual Rate, the Bureau of Statistics CPI
Download

Buying power of $100 in 1923

This chart shows a calculation of buying power equivalence for $100 in 1923 (price index tracking began in 1922).

For example, if you started with $100, you would need to end with $2,117.86 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $2,117.86 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 1923 dollars, the chart below shows how $100 is worth less over 68 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:

Dollar inflation: 1923-1991
Year Dollar Value Inflation Rate
1923 $100.00 -
1924 $100.00 0.00%
1925 $100.00 0.00%
1926 $103.57 3.57%
1927 $100.00 -3.45%
1928 $103.57 3.57%
1929 $103.57 0.00%
1930 $96.43 -6.90%
1931 $89.29 -7.41%
1932 $85.71 -4.00%
1933 $82.14 -4.17%
1934 $82.14 0.00%
1935 $85.71 4.35%
1936 $85.71 0.00%
1937 $89.29 4.17%
1938 $92.86 4.00%
1939 $92.86 0.00%
1940 $96.43 3.85%
1941 $100.00 3.70%
1942 $110.71 10.71%
1943 $114.29 3.23%
1944 $114.29 0.00%
1945 $114.29 0.00%
1946 $114.29 0.00%
1947 $121.43 6.25%
1948 $132.14 8.82%
1949 $142.86 8.11%
1950 $157.14 10.00%
1951 $185.71 18.18%
1952 $217.86 17.31%
1953 $228.57 4.92%
1954 $232.14 1.56%
1955 $235.71 1.54%
1956 $250.00 6.06%
1957 $257.14 2.86%
1958 $257.14 0.00%
1959 $264.29 2.78%
1960 $275.00 4.05%
1961 $278.57 1.30%
1962 $278.57 0.00%
1963 $282.14 1.28%
1964 $289.29 2.53%
1965 $300.00 3.70%
1966 $307.14 2.38%
1967 $317.86 3.49%
1968 $328.57 3.37%
1969 $339.29 3.26%
1970 $350.00 3.16%
1971 $371.43 6.12%
1972 $392.86 5.77%
1973 $428.57 9.09%
1974 $496.43 15.83%
1975 $571.43 15.11%
1976 $646.43 13.13%
1977 $725.00 12.15%
1978 $782.14 7.88%
1979 $853.57 9.13%
1980 $942.86 10.46%
1981 $1,032.14 9.47%
1982 $1,146.43 11.07%
1983 $1,264.29 10.28%
1984 $1,314.29 3.95%
1985 $1,400.00 6.52%
1986 $1,528.57 9.18%
1987 $1,657.14 8.41%
1988 $1,778.57 7.33%
1989 $1,910.71 7.43%
1990 $2,053.57 7.48%
1991 $2,117.86 3.13%
1992 $2,139.29 1.01%
1993 $2,175.00 1.67%
1994 $2,217.86 1.97%
1995 $2,321.43 4.67%
1996 $2,382.14 2.62%
1997 $2,389.29 0.30%
1998 $2,407.14 0.75%
1999 $2,442.86 1.48%
2000 $2,553.57 4.53%
2001 $2,664.29 4.34%
2002 $2,746.43 3.08%
2003 $2,821.43 2.73%
2004 $2,885.71 2.28%
2005 $2,964.29 2.72%
2006 $3,067.86 3.49%
2007 $3,139.29 2.33%
2008 $3,278.57 4.44%
2009 $3,335.71 1.74%
2010 $3,432.14 2.89%
2011 $3,546.43 3.33%
2012 $3,607.14 1.71%
2013 $3,696.43 2.48%
2014 $3,789.29 2.51%
2015 $3,846.43 1.51%
2016 $3,896.43 1.30%
2017 $3,971.43 1.92%
2018 $4,021.43 1.26%
2019 $4,097.84 1.90%
2020 $4,175.69 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 62 more rows

This conversion table shows various other 1923 amounts in 1991 dollars, based on the 2,017.86% change in prices:

Conversion Table: Value of a dollar in 1991
Initial value Equivalent value
$1 dollar in 1923 $21.18 dollars in 1991
$5 dollars in 1923 $105.89 dollars in 1991
$10 dollars in 1923 $211.79 dollars in 1991
$50 dollars in 1923 $1,058.93 dollars in 1991
$100 dollars in 1923 $2,117.86 dollars in 1991
$500 dollars in 1923 $10,589.29 dollars in 1991
$1,000 dollars in 1923 $21,178.57 dollars in 1991
$5,000 dollars in 1923 $105,892.86 dollars in 1991
$10,000 dollars in 1923 $211,785.71 dollars in 1991
$50,000 dollars in 1923 $1,058,928.57 dollars in 1991
$100,000 dollars in 1923 $2,117,857.14 dollars in 1991
$500,000 dollars in 1923 $10,589,285.71 dollars in 1991
$1,000,000 dollars in 1923 $21,178,571.43 dollars in 1991

How to Calculate Inflation Rate for $100, 1923 to 1991

Our calculations use the following inflation rate formula to calculate the change in value between 1923 and 1991:

CPI in 1991 CPI in 1923
×
1923 AUD value
=
1991 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 59.3 in 1991:

59.32.8
×
$100
=
$2,117.86

$100 in 1923 has the same "purchasing power" or "buying power" as $2,117.86 in 1991.

To get the total inflation rate for the 68 years between 1923 and 1991, we use the following formula:

CPI in 1991 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (68 years)

Plugging in the values to this equation, we get:

59.3 - 2.82.8
×
100
=
2,018%

News headlines from 1923

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

  • The inner burial chamber of the Pharaoh Tutankhamun's tomb is opened, leading to the finding of the sarcophagus by Howard Carter.
  • The Disney Brothers Cartoon Studio is founded.
  • Lenin's "Political Testament" is issued which calls for Stalin's removal.
  • In Germany, 5,000 storm troopers demonstrate against the 'November crime', Hitler is arrested after seeking to take advantage of the chaotic conditions.

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: “1923 dollars in 1991 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 13 Aug. 2020, https://www.officialdata.org/1923-AUD-in-1991.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1923 to 1991
Cumulative price change 2,017.86%
Average inflation rate 4.59%
Converted amount ($100 base) $2,117.86
Price difference ($100 base) $2,017.86
CPI in 1923 2.800
CPI in 1991 59.300
Inflation in 1923 0.00%
Inflation in 1991 3.13%