$100 in 1923 → $2,442.86 in 1999

Australia Inflation Calculator

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$100 in 1923 → $2,442.86 in 1999

Australian Inflation Rate, $100 in 1923 to 1999

According to the Bureau of Statistics consumer price index, prices in 1999 are 2,342.86% higher than average prices throughout 1923. The dollar experienced an average inflation rate of 4.29% per year during this period, meaning the real value of a dollar decreased.

In other words, $100 in 1923 is equivalent in purchasing power to about $2,442.86 in 1999, a difference of $2,342.86 over 76 years.

The 1923 inflation rate was 0.00%. The inflation rate in 1999 was 1.48%. The 1999 inflation rate is lower compared to the average inflation rate of 2.62% per year between 1999 and 2019.


Inflation from 1923 to 1999
Cumulative price change 2,342.86%
Average inflation rate 4.29%
Converted amount ($100 base) $2,442.86
Price difference ($100 base) $2,342.86
CPI in 1923 2.800
CPI in 1999 68.400
Inflation in 1923 0.00%
Inflation in 1999 1.48%

AUD inflation chart from 1922 to 2017


Buying power of $100 in 1923

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $100 in 1923 (price index tracking began in 1922).

According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:

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%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 70 more rows

How to Calculate Inflation Rate for $100, 1923 to 1999

This inflation calculator uses the following inflation rate formula:

CPI in 1999CPI in 1923
×
1923 AUD value
=
1999 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 68.4 in 1999:

68.42.8
×
$100
=
$2,442.86

$100 in 1923 has the same "purchasing power" or "buying power" as $2,442.86 in 1999.

To get the total inflation rate for the 76 years between 1923 and 1999, we use the following formula:

CPI in 1999 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (76 years)

Plugging in the values to this equation, we get:

68.4 - 2.82.8
×
100
=
2,343%

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 1999 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 9 Dec. 2019, https://www.officialdata.org/1923-AUD-in-1999.

Special thanks to QuickChart for providing downloadable chart images.

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


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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» Read more about inflation and investment.

Inflation from 1923 to 1999
Cumulative price change 2,342.86%
Average inflation rate 4.29%
Converted amount ($100 base) $2,442.86
Price difference ($100 base) $2,342.86
CPI in 1923 2.800
CPI in 1999 68.400
Inflation in 1923 0.00%
Inflation in 1999 1.48%
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