$1 in 2005 → $0.90 in 2001

Australia Inflation Calculator

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$1 in 2005 → $0.90 in 2001

Australian Inflation Rate, $1 in 2005 to 2001

According to the Bureau of Statistics consumer price index, prices in 2001 are 10.12% lower than average prices since 2005. The Australian dollar experienced an average inflation rate of 2.70% per year during this period, meaning the real value of a dollar decreased.

In other words, $1 in 2005 is equivalent in purchasing power to about $0.90 in 2001, a difference of $-0.10 over 4 years.

The 2001 inflation rate was 4.34%. The inflation rate in 2005 was 2.72%. The 2005 inflation rate is higher compared to the average inflation rate of 2.31% per year between 2005 and 2020.


Inflation from 2005 to 2001
Cumulative price change -10.12%
Average inflation rate 2.70%
Converted amount ($1 base) $0.90
Price difference ($1 base) $-0.10
CPI in 2005 83.000
CPI in 2001 74.600
Inflation in 2001 4.34%
Inflation in 2005 2.72%

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

Buying power of $1 in 2001

This chart shows a calculation of buying power equivalence for $1 in 2001 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $0.90 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $0.90 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 2001 dollars, the chart below shows how $1 buys less over the past 4 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
2001 $1.00 4.34%
2002 $1.03 3.08%
2003 $1.06 2.73%
2004 $1.08 2.28%
2005 $1.11 2.72%
2006 $1.15 3.49%
2007 $1.18 2.33%
2008 $1.23 4.44%
2009 $1.25 1.74%
2010 $1.29 2.89%
2011 $1.33 3.33%
2012 $1.35 1.71%
2013 $1.39 2.48%
2014 $1.42 2.51%
2015 $1.44 1.51%
2016 $1.46 1.30%
2017 $1.49 1.92%
2018 $1.51 1.26%
2019 $1.54 1.90%
2020 $1.57 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for $1, 2001 to 2005

This inflation calculator uses the following inflation rate formula:

CPI in 2001CPI in 2005
×
2005 AUD value
=
2001 AUD value

Then plug in historical CPI values. The Australian CPI was 83 in the year 2005 and 74.6 in 2001:

74.683
×
$1
=
$0.90

$1 in 2005 has the same "purchasing power" or "buying power" as $0.90 in 2001.

To get the total inflation rate for the 4 years between 2001 and 2005, we use the following formula:

CPI in 2001 - CPI in 2005CPI in 2005
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

74.6 - 8383
×
100
=
-10%

News headlines from 2001

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

  • Egyptian President Hosni Mubarak asks Parliament to amend Article 76 and orders constitutional changes in order to allow multi-candidate presidential elections.
  • Syria's 29-year-long military domination of Lebanon ends, after it withdraws the last of its 14,000 troops under international pressure.
  • A coordinated bomb attack hits London's public transport system, during the morning rush hour, killing 52 and injuring a further 700 people.
  • Angela Merkel becomes first female Chancellor of Germany.

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: “$1 in 2005 → 2001 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Jan. 2020, https://www.officialdata.org/2005-AUD-in-2001?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

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.

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Inflation from 2005 to 2001
Cumulative price change -10.12%
Average inflation rate 2.70%
Converted amount ($1 base) $0.90
Price difference ($1 base) $-0.10
CPI in 2005 83.000
CPI in 2001 74.600
Inflation in 2001 4.34%
Inflation in 2005 2.72%