Value of $100 from 1926 to 1998
According to the Bureau of Statistics consumer price index, prices in 1998 are 2,224.14% higher than average prices since 1926. The Australian dollar experienced an average inflation rate of 4.47% per year during this period, causing the real value of a dollar to decrease.
In other words, $100 in 1926 is equivalent in purchasing power to about $2,324.14 in 1998, a difference of $2,224.14 over 72 years.
The 1926 inflation rate was 3.57%. The inflation rate in 1998 was 0.75%. The 1998 inflation rate is lower compared to the average inflation rate of 2.54% per year between 1998 and 2020.
⌃
| Cumulative price change | 2,224.14% |
| Average inflation rate | 4.47% |
| Converted amount ($100 base) | $2,324.14 |
| Price difference ($100 base) | $2,224.14 |
| CPI in 1926 | 2.900 |
| CPI in 1998 | 67.400 |
| Inflation in 1926 | 3.57% |
| Inflation in 1998 | 0.75% |
Buying power of $100 in 1926
This chart shows a calculation of buying power equivalence for $100 in 1926 (price index tracking began in 1922).
For example, if you started with $100, you would need to end with $2,324.14 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $2,324.14 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 1926 dollars, the chart below shows how $100 is worth less over 72 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 1926 amounts in 1998 dollars, based on the 2,224.14% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1926 | $23.24 dollars in 1998 |
| $5 dollars in 1926 | $116.21 dollars in 1998 |
| $10 dollars in 1926 | $232.41 dollars in 1998 |
| $50 dollars in 1926 | $1,162.07 dollars in 1998 |
| $100 dollars in 1926 | $2,324.14 dollars in 1998 |
| $500 dollars in 1926 | $11,620.69 dollars in 1998 |
| $1,000 dollars in 1926 | $23,241.38 dollars in 1998 |
| $5,000 dollars in 1926 | $116,206.90 dollars in 1998 |
| $10,000 dollars in 1926 | $232,413.79 dollars in 1998 |
| $50,000 dollars in 1926 | $1,162,068.97 dollars in 1998 |
| $100,000 dollars in 1926 | $2,324,137.93 dollars in 1998 |
| $500,000 dollars in 1926 | $11,620,689.66 dollars in 1998 |
| $1,000,000 dollars in 1926 | $23,241,379.31 dollars in 1998 |
How to Calculate Inflation Rate for $100, 1926 to 1998
Our calculations use the following inflation rate formula to calculate the change in value between 1926 and 1998:
CPI in 1998
CPI in 1926
×
1926 AUD value
=
1998 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1926 and 67.4 in 1998:
67.42.9
×
$100
=
$2,324.14
$100 in 1926 has the same "purchasing power" or "buying power" as $2,324.14 in 1998.
To get the total inflation rate for the 72 years between 1926 and 1998, we use the following formula:
CPI in 1998 - CPI in 1926CPI in 1926
×
100
=
Cumulative inflation rate (72 years)
Plugging in the values to this equation, we get:
67.4 - 2.92.9
×
100
=
2,224%
News headlines from 1926
Politics and news often influence economic performance. Here's what was happening at the time:
- Abdulaziz Ibn Saud is declared King of Nejd and Hejaz.
- In support of striking coal miners, Trade Union Congress calls for a general strike one minute to midnight, known as the British General Strike.
- Trotsky and his followers are thrown out by the Russian Politburo.
- Autonomy inside the British Commonwealth is gained after the Imperial Conference.
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: “1926 dollars in 1998 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 May. 2020, https://www.officialdata.org/1926-AUD-in-1998.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | 2,224.14% |
| Average inflation rate | 4.47% |
| Converted amount ($100 base) | $2,324.14 |
| Price difference ($100 base) | $2,224.14 |
| CPI in 1926 | 2.900 |
| CPI in 1998 | 67.400 |
| Inflation in 1926 | 3.57% |
| Inflation in 1998 | 0.75% |
