$100 in 1937 is equivalent in purchasing power to about $2,696 in 1998, an increase of $2,596.00 over 61 years. The dollar had an average inflation rate of 5.55% per year between 1937 and 1998, producing a cumulative price increase of 2,596.00%.
This means that prices in 1998 are 26.96 times as high as average prices since 1937, according to the Bureau of Statistics consumer price index.
The inflation rate in 1937 was 4.17%. The inflation rate in 1998 was 0.75%. The 1998 inflation rate is lower compared to the average inflation rate of 2.72% per year between 1998 and 2024.
Cumulative price change | 2,596.00% |
Average inflation rate | 5.55% |
Converted amount $100 base | $2,696 |
Price difference $100 base | $2,596.00 |
CPI in 1937 | 2.500 |
CPI in 1998 | 67.400 |
Inflation in 1937 | 4.17% |
Inflation in 1998 | 0.75% |
$100 in 1937 | $2,696 in 1998 |
This chart shows a calculation of buying power equivalence for $100 in 1937 (price index tracking began in 1922).
For example, if you started with $100, you would need to end with $2,696 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $100 is equivalent to $2,696 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 1937 dollars, the chart below shows how $100 is worth less over 61 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 1937 amounts in 1998 dollars, based on the 2,596.00% change in prices:
Initial value | Equivalent value |
---|---|
$1 dollar in 1937 | $26.96 dollars in 1998 |
$5 dollars in 1937 | $134.80 dollars in 1998 |
$10 dollars in 1937 | $269.60 dollars in 1998 |
$50 dollars in 1937 | $1,348.00 dollars in 1998 |
$100 dollars in 1937 | $2,696.00 dollars in 1998 |
$500 dollars in 1937 | $13,480.00 dollars in 1998 |
$1,000 dollars in 1937 | $26,960.00 dollars in 1998 |
$5,000 dollars in 1937 | $134,800.00 dollars in 1998 |
$10,000 dollars in 1937 | $269,600.00 dollars in 1998 |
$50,000 dollars in 1937 | $1,348,000.00 dollars in 1998 |
$100,000 dollars in 1937 | $2,696,000.00 dollars in 1998 |
$500,000 dollars in 1937 | $13,480,000.00 dollars in 1998 |
$1,000,000 dollars in 1937 | $26,960,000.00 dollars in 1998 |
Our calculations use the following inflation rate formula to calculate the change in value between 1937 and 1998:
Then plug in historical CPI values. The Australian CPI was 2.5 in the year 1937 and 67.4 in 1998:
$100 in 1937 has the same "purchasing power" or "buying power" as $2,696 in 1998.
To get the total inflation rate for the 61 years between 1937 and 1998, we use the following formula:
Plugging in the values to this equation, we get:
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: “1937 dollars in 1998 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/1937-AUD-in-1998.
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 | 2,596.00% |
Average inflation rate | 5.55% |
Converted amount $100 base | $2,696 |
Price difference $100 base | $2,596.00 |
CPI in 1937 | 2.500 |
CPI in 1998 | 67.400 |
Inflation in 1937 | 4.17% |
Inflation in 1998 | 0.75% |
$100 in 1937 | $2,696 in 1998 |