# \$100 in 1941 is worth \$2,885.71 in 2004

\$

## Value of \$100 from 1941 to 2004

According to the Bureau of Statistics consumer price index, prices in 2004 are 2,785.71% higher than average prices since 1941. The Australian dollar experienced an average inflation rate of 5.48% per year during this period, causing the real value of a dollar to decrease.

In other words, \$100 in 1941 is equivalent in purchasing power to about \$2,885.71 in 2004, a difference of \$2,785.71 over 63 years.

The 1941 inflation rate was 3.70%. The inflation rate in 2004 was 2.28%. The 2004 inflation rate is lower compared to the average inflation rate of 2.34% per year between 2004 and 2020.

 Cumulative price change 2,785.71% Average inflation rate 5.48% Converted amount (\$100 base) \$2,885.71 Price difference (\$100 base) \$2,785.71 CPI in 1941 2.800 CPI in 2004 80.800 Inflation in 1941 3.70% Inflation in 2004 2.28%

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 \$2,885.71 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$2,885.71 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 is worth less over 63 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:

Dollar inflation: 1941-2004
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 57 more rows

This conversion table shows various other 1941 amounts in 2004 dollars, based on the 2,785.71% change in prices:

Conversion Table: Value of a dollar in 2004
Initial value Equivalent value
\$1 dollar in 1941 \$28.86 dollars in 2004
\$5 dollars in 1941 \$144.29 dollars in 2004
\$10 dollars in 1941 \$288.57 dollars in 2004
\$50 dollars in 1941 \$1,442.86 dollars in 2004
\$100 dollars in 1941 \$2,885.71 dollars in 2004
\$500 dollars in 1941 \$14,428.57 dollars in 2004
\$1,000 dollars in 1941 \$28,857.14 dollars in 2004
\$5,000 dollars in 1941 \$144,285.71 dollars in 2004
\$10,000 dollars in 1941 \$288,571.43 dollars in 2004
\$50,000 dollars in 1941 \$1,442,857.14 dollars in 2004
\$100,000 dollars in 1941 \$2,885,714.29 dollars in 2004
\$500,000 dollars in 1941 \$14,428,571.43 dollars in 2004
\$1,000,000 dollars in 1941 \$28,857,142.86 dollars in 2004

## How to Calculate Inflation Rate for \$100, 1941 to 2004

Our calculations use the following inflation rate formula to calculate the change in value between 1941 and 2004:

CPI in 2004 CPI in 1941
×
1941 AUD value
=
2004 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1941 and 80.8 in 2004:

80.82.8
×
\$100
=
\$2,885.71

\$100 in 1941 has the same "purchasing power" or "buying power" as \$2,885.71 in 2004.

To get the total inflation rate for the 63 years between 1941 and 2004, we use the following formula:

CPI in 2004 - CPI in 1941CPI in 1941
×
100
=
Cumulative inflation rate (63 years)

Plugging in the values to this equation, we get:

80.8 - 2.82.8
×
100
=
2,786%

## News headlines from 1941

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 2004 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Oct. 2020, https://www.officialdata.org/1941-AUD-in-2004.

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.

#### About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Cumulative price change 2,785.71% Average inflation rate 5.48% Converted amount (\$100 base) \$2,885.71 Price difference (\$100 base) \$2,785.71 CPI in 1941 2.800 CPI in 2004 80.800 Inflation in 1941 3.70% Inflation in 2004 2.28%