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# \$100 in 1924 → \$1,910.71 in 1989

### Australian Inflation Rate, \$100 in 1924 to 1989

According to the Bureau of Statistics consumer price index, prices in 1989 are 1,810.71% higher than average prices since 1924. The Australian dollar experienced an average inflation rate of 4.64% per year during this period, meaning the real value of a dollar decreased.

In other words, \$100 in 1924 is equivalent in purchasing power to about \$1,910.71 in 1989, a difference of \$1,810.71 over 65 years.

The 1924 inflation rate was 0.00%. The inflation rate in 1989 was 7.43%. The 1989 inflation rate is higher compared to the average inflation rate of 2.55% per year between 1989 and 2020.

 Cumulative price change 1,810.71% Average inflation rate 4.64% Converted amount (\$100 base) \$1,910.71 Price difference (\$100 base) \$1,810.71 CPI in 1924 2.800 CPI in 1989 53.500 Inflation in 1924 0.00% Inflation in 1989 7.43%

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

### Buying power of \$100 in 1924

This chart shows a calculation of buying power equivalence for \$100 in 1924 (price index tracking began in 1922).

For example, if you started with \$100, you would need to end with \$1,910.71 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$1,910.71 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 1924 dollars, the chart below shows how \$100 buys less over the past 65 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:

Year Dollar Value Inflation Rate
1924 \$100.00 -
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 59 more rows

### How to Calculate Inflation Rate for \$100, 1924 to 1989

This inflation calculator uses the following inflation rate formula:

CPI in 1989CPI in 1924
×
1924 AUD value
=
1989 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1924 and 53.5 in 1989:

53.52.8
×
\$100
=
\$1,910.71

\$100 in 1924 has the same "purchasing power" or "buying power" as \$1,910.71 in 1989.

To get the total inflation rate for the 65 years between 1924 and 1989, we use the following formula:

CPI in 1989 - CPI in 1924CPI in 1924
×
100
=
Cumulative inflation rate (65 years)

Plugging in the values to this equation, we get:

53.5 - 2.82.8
×
100
=
1,811%

### 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: “1924 dollars in 1989 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 26 Jan. 2020, https://www.officialdata.org/1924-AUD-in-1989.