Value of $100 from 1928 to 2014
According to the Bureau of Statistics consumer price index, prices in 2014 are 3,558.62% higher than average prices since 1928. The Australian dollar experienced an average inflation rate of 4.27% per year during this period, causing the real value of a dollar to decrease.
In other words, $100 in 1928 is equivalent in purchasing power to about $3,658.62 in 2014, a difference of $3,558.62 over 86 years.
The 1928 inflation rate was 3.57%. The inflation rate in 2014 was 2.51%. The 2014 inflation rate is higher compared to the average inflation rate of 1.63% per year between 2014 and 2020.
⌃
| Cumulative price change | 3,558.62% |
| Average inflation rate | 4.27% |
| Converted amount ($100 base) | $3,658.62 |
| Price difference ($100 base) | $3,558.62 |
| CPI in 1928 | 2.900 |
| CPI in 2014 | 106.100 |
| Inflation in 1928 | 3.57% |
| Inflation in 2014 | 2.51% |
Buying power of $100 in 1928
This chart shows a calculation of buying power equivalence for $100 in 1928 (price index tracking began in 1922).
For example, if you started with $100, you would need to end with $3,658.62 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $3,658.62 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 1928 dollars, the chart below shows how $100 is worth less over 86 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 1928 amounts in 2014 dollars, based on the 3,558.62% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1928 | $36.59 dollars in 2014 |
| $5 dollars in 1928 | $182.93 dollars in 2014 |
| $10 dollars in 1928 | $365.86 dollars in 2014 |
| $50 dollars in 1928 | $1,829.31 dollars in 2014 |
| $100 dollars in 1928 | $3,658.62 dollars in 2014 |
| $500 dollars in 1928 | $18,293.10 dollars in 2014 |
| $1,000 dollars in 1928 | $36,586.21 dollars in 2014 |
| $5,000 dollars in 1928 | $182,931.03 dollars in 2014 |
| $10,000 dollars in 1928 | $365,862.07 dollars in 2014 |
| $50,000 dollars in 1928 | $1,829,310.34 dollars in 2014 |
| $100,000 dollars in 1928 | $3,658,620.69 dollars in 2014 |
| $500,000 dollars in 1928 | $18,293,103.45 dollars in 2014 |
| $1,000,000 dollars in 1928 | $36,586,206.90 dollars in 2014 |
How to Calculate Inflation Rate for $100, 1928 to 2014
Our calculations use the following inflation rate formula to calculate the change in value between 1928 and 2014:
CPI in 2014
CPI in 1928
×
1928 AUD value
=
2014 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 106.1 in 2014:
106.12.9
×
$100
=
$3,658.62
$100 in 1928 has the same "purchasing power" or "buying power" as $3,658.62 in 2014.
To get the total inflation rate for the 86 years between 1928 and 2014, we use the following formula:
CPI in 2014 - CPI in 1928CPI in 1928
×
100
=
Cumulative inflation rate (86 years)
Plugging in the values to this equation, we get:
106.1 - 2.92.9
×
100
=
3,559%
News headlines from 1928
Politics and news often influence economic performance. Here's what was happening at the time:
- Amelia Earhart becomes the first woman to fly across the Atlantic Ocean.
- Jawaharlal Nehru requests Indian independence.
- Alexander Fleming, a Scottish bacteriologist, accidentally discovers penicillin while studying influenza.
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: “1928 dollars in 2014 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Jul. 2020, https://www.officialdata.org/1928-AUD-in-2014.
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 | 3,558.62% |
| Average inflation rate | 4.27% |
| Converted amount ($100 base) | $3,658.62 |
| Price difference ($100 base) | $3,558.62 |
| CPI in 1928 | 2.900 |
| CPI in 2014 | 106.100 |
| Inflation in 1928 | 3.57% |
| Inflation in 2014 | 2.51% |