\$

\$100 in 1938 → \$3,530.77 in 2008

Australian Inflation Rate, \$100 in 1938 to 2008

According to the Bureau of Statistics consumer price index, prices in 2008 are 3,430.77% higher than average prices since 1938. The Australian dollar experienced an average inflation rate of 5.22% per year during this period, meaning the real value of a dollar decreased.

In other words, \$100 in 1938 is equivalent in purchasing power to about \$3,530.77 in 2008, a difference of \$3,430.77 over 70 years.

The 1938 inflation rate was 4.00%. The inflation rate in 2008 was 4.44%. The 2008 inflation rate is higher compared to the average inflation rate of 2.04% per year between 2008 and 2020.

 Cumulative price change 3,430.77% Average inflation rate 5.22% Converted amount (\$100 base) \$3,530.77 Price difference (\$100 base) \$3,430.77 CPI in 1938 2.600 CPI in 2008 91.800 Inflation in 1938 4.00% Inflation in 2008 4.44%

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

Buying power of \$100 in 1938

This chart shows a calculation of buying power equivalence for \$100 in 1938 (price index tracking began in 1922).

For example, if you started with \$100, you would need to end with \$3,530.77 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$3,530.77 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 1938 dollars, the chart below shows how \$100 buys less over the past 70 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
1938 \$100.00 4.00%
1939 \$100.00 0.00%
1940 \$103.85 3.85%
1941 \$107.69 3.70%
1942 \$119.23 10.71%
1943 \$123.08 3.23%
1944 \$123.08 0.00%
1945 \$123.08 0.00%
1946 \$123.08 0.00%
1947 \$130.77 6.25%
1948 \$142.31 8.82%
1949 \$153.85 8.11%
1950 \$169.23 10.00%
1951 \$200.00 18.18%
1952 \$234.62 17.31%
1953 \$246.15 4.92%
1954 \$250.00 1.56%
1955 \$253.85 1.54%
1956 \$269.23 6.06%
1957 \$276.92 2.86%
1958 \$276.92 0.00%
1959 \$284.62 2.78%
1960 \$296.15 4.05%
1961 \$300.00 1.30%
1962 \$300.00 0.00%
1963 \$303.85 1.28%
1964 \$311.54 2.53%
1965 \$323.08 3.70%
1966 \$330.77 2.38%
1967 \$342.31 3.49%
1968 \$353.85 3.37%
1969 \$365.38 3.26%
1970 \$376.92 3.16%
1971 \$400.00 6.12%
1972 \$423.08 5.77%
1973 \$461.54 9.09%
1974 \$534.62 15.83%
1975 \$615.38 15.11%
1976 \$696.15 13.13%
1977 \$780.77 12.15%
1978 \$842.31 7.88%
1979 \$919.23 9.13%
1980 \$1,015.38 10.46%
1981 \$1,111.54 9.47%
1982 \$1,234.62 11.07%
1983 \$1,361.54 10.28%
1984 \$1,415.38 3.95%
1985 \$1,507.69 6.52%
1986 \$1,646.15 9.18%
1987 \$1,784.62 8.41%
1988 \$1,915.38 7.33%
1989 \$2,057.69 7.43%
1990 \$2,211.54 7.48%
1991 \$2,280.77 3.13%
1992 \$2,303.85 1.01%
1993 \$2,342.31 1.67%
1994 \$2,388.46 1.97%
1995 \$2,500.00 4.67%
1996 \$2,565.38 2.62%
1997 \$2,573.08 0.30%
1998 \$2,592.31 0.75%
1999 \$2,630.77 1.48%
2000 \$2,750.00 4.53%
2001 \$2,869.23 4.34%
2002 \$2,957.69 3.08%
2003 \$3,038.46 2.73%
2004 \$3,107.69 2.28%
2005 \$3,192.31 2.72%
2006 \$3,303.85 3.49%
2007 \$3,380.77 2.33%
2008 \$3,530.77 4.44%
2009 \$3,592.31 1.74%
2010 \$3,696.15 2.89%
2011 \$3,819.23 3.33%
2012 \$3,884.62 1.71%
2013 \$3,980.77 2.48%
2014 \$4,080.77 2.51%
2015 \$4,142.31 1.51%
2016 \$4,196.15 1.30%
2017 \$4,276.92 1.92%
2018 \$4,330.77 1.26%
2019 \$4,413.05 1.90%
2020 \$4,496.90 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 64 more rows

How to Calculate Inflation Rate for \$100, 1938 to 2008

This inflation calculator uses the following inflation rate formula:

CPI in 2008CPI in 1938
×
1938 AUD value
=
2008 AUD value

Then plug in historical CPI values. The Australian CPI was 2.6 in the year 1938 and 91.8 in 2008:

91.82.6
×
\$100
=
\$3,530.77

\$100 in 1938 has the same "purchasing power" or "buying power" as \$3,530.77 in 2008.

To get the total inflation rate for the 70 years between 1938 and 2008, we use the following formula:

CPI in 2008 - CPI in 1938CPI in 1938
×
100
=
Cumulative inflation rate (70 years)

Plugging in the values to this equation, we get:

91.8 - 2.62.6
×
100
=
3,431%

Politics and news often influence economic performance. Here's what was happening at the time:

• Anthony Eden resigns as United Kingdom's Foreign Secretary after stating that Prime Minister Neville Chamberlain has appeased Nazi Germany.
• Czechoslovakia is forced to give territory to Germany after the Treaty of Munich was signed by Hitler, Mussolini, Daladier and Chamberlain.
• Joseph Kennedy is named the 44th US Ambassador to the United Kingdom.

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: “1938 dollars in 2008 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 26 Jan. 2020, https://www.officialdata.org/1938-AUD-in-2008.