Inflation in 1938 and its effect on dollar value
$1 in 1937 is equivalent in purchasing power to about $1.04 in 1938. The dollar had an average inflation rate of 4.00% per year between 1937 and 1938, producing a cumulative price increase of 4.00%. Purchasing power decreased by 4.00% in 1938 compared to 1937. On average, you would have to spend 4.00% more money in 1938 than in 1937 for the same item.
This means that prices in 1938 are 1.04 times as high as average prices since 1937, according to the Bureau of Statistics consumer price index.
The inflation rate in 1937 was 4.17%. The inflation rate in 1938 was 4.00%. The 1938 inflation rate is lower compared to the average inflation rate of 4.70% per year between 1938 and 2024.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1938 was 2.60. It was 2.50 in the previous year, 1937. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
⌃
| Average inflation rate | 4.00% |
| Converted amount $1 base | $1.04 |
| Price difference $1 base | $0.04 |
| CPI in 1937 | 2.500 |
| CPI in 1938 | 2.600 |
| Inflation in 1937 | 4.17% |
| Inflation in 1938 | 4.00% |
| $1 in 1937 | $1.04 in 1938 |
How to calculate inflation rate for $1, 1937 to 1938
Our calculations use the following inflation rate formula to calculate the change in value between 1937 and 1938:
CPI in 1938 CPI in 1937
×
1937 AUD value
=
1938 AUD value
Then plug in historical CPI values. The Australian CPI was 2.5 in the year 1937 and 2.6 in 1938:
2.62.5
×
$1
=
$1.04
$1 in 1937 has the same "purchasing power" or "buying power" as $1.04 in 1938.
To get the total inflation rate for the 1 years between 1937 and 1938, we use the following formula:
CPI in 1938 - CPI in 1937CPI in 1937
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
2.6 - 2.52.5
×
100
=
4%
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 1938 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 14 Dec. 2024, https://www.officialdata.org/Australia-inflation-rate-in-1938.
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.
| Average inflation rate | 4.00% |
| Converted amount $1 base | $1.04 |
| Price difference $1 base | $0.04 |
| CPI in 1937 | 2.500 |
| CPI in 1938 | 2.600 |
| Inflation in 1937 | 4.17% |
| Inflation in 1938 | 4.00% |
| $1 in 1937 | $1.04 in 1938 |