\$

\$1 in 2010 → \$1.14 in 2016

👉 You may be interested in \$1 in 2010 → 2020

Australian Inflation Rate, \$1 in 2010 to 2016

According to the Bureau of Statistics consumer price index, prices in 2016 are 13.53% higher than average prices since 2010. The Australian dollar experienced an average inflation rate of 2.14% per year during this period, meaning the real value of a dollar decreased.

In other words, \$1 in 2010 is equivalent in purchasing power to about \$1.14 in 2016, a difference of \$0.14 over 6 years.

The 2010 inflation rate was 2.89%. The inflation rate in 2016 was 1.30%. The 2016 inflation rate is lower compared to the average inflation rate of 1.75% per year between 2016 and 2020.

 Cumulative price change 13.53% Average inflation rate 2.14% Converted amount (\$1 base) \$1.14 Price difference (\$1 base) \$0.14 CPI in 2010 96.100 CPI in 2016 109.100 Inflation in 2010 2.89% Inflation in 2016 1.30%

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

Buying power of \$1 in 2010

This chart shows a calculation of buying power equivalence for \$1 in 2010 (price index tracking began in 1922).

For example, if you started with \$1, you would need to end with \$1.14 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.14 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 2010 dollars, the chart below shows how \$1 buys less over the past 6 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
2010 \$1.00 2.89%
2011 \$1.03 3.33%
2012 \$1.05 1.71%
2013 \$1.08 2.48%
2014 \$1.10 2.51%
2015 \$1.12 1.51%
2016 \$1.14 1.30%
2017 \$1.16 1.92%
2018 \$1.17 1.26%
2019 \$1.19 1.90%
2020 \$1.22 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, 2010 to 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2016CPI in 2010
×
2010 AUD value
=
2016 AUD value

Then plug in historical CPI values. The Australian CPI was 96.1 in the year 2010 and 109.1 in 2016:

109.196.1
×
\$1
=
\$1.14

\$1 in 2010 has the same "purchasing power" or "buying power" as \$1.14 in 2016.

To get the total inflation rate for the 6 years between 2010 and 2016, we use the following formula:

CPI in 2016 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (6 years)

Plugging in the values to this equation, we get:

109.1 - 96.196.1
×
100
=
14%

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

• The Copiapo mining accident in Chile ends, after 33 miners resurface having spent 69 days trapped in the ruins.
• Big Haiti earthquake kills 230,000 people and leaves most of Port-au-Prince, its capital, in ruins.
• An explosion on the Deepwater Horizon (a drilling rig), kills 11 people and spills a massive amount of oil into the Gulf of Mexico.
• The US army abolishes the "Don't Ask Don't Tell" policy, which had banned homosexuals from openly serving in the US military.

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 2010 → 2016 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Jan. 2020, https://www.officialdata.org/2010-AUD-in-2016?amount=1.