# Australian inflation rate in 1929: 0.00%

\$

## Inflation in 1929 and its effect on dollar value

Purchasing power decreased by 0.00% in 1929 compared to 1928. On average, you would have to spend 0.00% more money in 1929 than in 1928 for the same item.

In other words, \$1 in 1928 is equivalent in purchasing power to about \$1 in 1929.

The 1928 inflation rate was 3.57%. The inflation rate in 1929 was 0.00%. The 1929 inflation rate is lower compared to the average inflation rate of 4.15% per year between 1929 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1929 was 2.90. It was 2.90 in the previous year, 1928. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.

 Average inflation rate 0.00% Converted amount (\$1 base) \$1 Price difference (\$1 base) \$0.00 CPI in 1928 2.900 CPI in 1929 2.900 Inflation in 1928 3.57% Inflation in 1929 0.00%

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

## How to Calculate Inflation Rate for \$1, 1928 to 1929

Our calculations use the following inflation rate formula to calculate the change in value between 1928 and 1929:

CPI in 1929 CPI in 1928
×
1928 AUD value
=
1929 AUD value

Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 2.9 in 1929:

2.92.9
×
\$1
=
\$1

\$1 in 1928 has the same "purchasing power" or "buying power" as \$1 in 1929.

To get the total inflation rate for the 1 years between 1928 and 1929, we use the following formula:

CPI in 1929 - CPI in 1928CPI in 1928
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

2.9 - 2.92.9
×
100
=
0%

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

• Amelia Earhart becomes the first woman to fly across the Atlantic Ocean.
• Jawaharlal Nehru requests Indian independence.
• Alexander Fleming, a Scottish bacteriologist, accidentally discovers penicillin while studying influenza.

## 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: “Inflation Rate in 1929 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 May. 2020, https://www.officialdata.org/Australia-inflation-rate-in-1929.