# \$100 in 1941 → \$2,746.43 in 2002

## Australia Inflation Calculator

\$

### Australian Inflation Rate, \$100 from 1941 to 2002

According to the Bureau of Statistics consumer price index, prices in 2002 are 2,646.43% higher than average prices since 1941. The Australian dollar experienced an average inflation rate of 5.58% per year during this period, meaning the real value of a dollar decreased.

In other words, \$100 in 1941 is equivalent in purchasing power to about \$2,746.43 in 2002, a difference of \$2,646.43 over 61 years.

The 1941 inflation rate was 3.70%. The inflation rate in 2002 was 3.08%. The 2002 inflation rate is higher compared to the average inflation rate of 2.35% per year between 2002 and 2020.

 Cumulative price change 2,646.43% Average inflation rate 5.58% Converted amount (\$100 base) \$2,746.43 Price difference (\$100 base) \$2,646.43 CPI in 1941 2.800 CPI in 2002 76.900 Inflation in 1941 3.70% Inflation in 2002 3.08%

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

### Buying power of \$100 in 1941

This chart shows a calculation of buying power equivalence for \$100 in 1941 (price index tracking began in 1922).

For example, if you started with \$100, you would need to end with \$2,746.43 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$2,746.43 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 1941 dollars, the chart below shows how \$100 buys less over the past 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:

Year Dollar Value Inflation Rate
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 55 more rows

### How to Calculate Inflation Rate for \$100, 1941 to 2002

This inflation calculator uses the following inflation rate formula:

CPI in 2002CPI in 1941
×
1941 AUD value
=
2002 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1941 and 76.9 in 2002:

76.92.8
×
\$100
=
\$2,746.43

\$100 in 1941 has the same "purchasing power" or "buying power" as \$2,746.43 in 2002.

To get the total inflation rate for the 61 years between 1941 and 2002, we use the following formula:

CPI in 2002 - CPI in 1941CPI in 1941
×
100
=
Cumulative inflation rate (61 years)

Plugging in the values to this equation, we get:

76.9 - 2.82.8
×
100
=
2,646%

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

• 6,000 Jews are exterminated in the Bucharest pogrom in Romania.
• Kuomintang troops open fire at communist forces, leading to the resumption of the Chinese civil war.
• The British battle cruiser the HMS Hood is sunk by the German Battleship Bismarck, leading to 1,416 dead and only 3 survivors.
• Germany, Italy, and Romania declare war on the Soviet Union.

### 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: “1941 dollars in 2002 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Feb. 2020, https://www.officialdata.org/1941-AUD-in-2002.