\$

# Australian inflation rate in 1948: 8.82%

### Inflation in 1948 and Its Effect on Dollar Value

Purchasing power decreased by 8.82% in 1948 compared to 1947. On average, you would have to spend 8.82% more money in 1948 than in 1947 for the same item.

In other words, \$1 in 1947 is equivalent in purchasing power to about \$1.09 in 1948.

The 1947 inflation rate was 6.25%. The inflation rate in 1948 was 8.82%. The 1948 inflation rate is higher compared to the average inflation rate of 4.91% per year between 1948 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1948 was 3.70. It was 3.40 in the previous year, 1947. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.

 Average inflation rate 8.82% Converted amount (\$1 base) \$1.09 Price difference (\$1 base) \$0.09 CPI in 1947 3.400 CPI in 1948 3.700 Inflation in 1947 6.25% Inflation in 1948 8.82%

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

### How to Calculate Inflation Rate for \$1, 1947 to 1948

This inflation calculator uses the following inflation rate formula:

CPI in 1948CPI in 1947
×
1947 AUD value
=
1948 AUD value

Then plug in historical CPI values. The Australian CPI was 3.4 in the year 1947 and 3.7 in 1948:

3.73.4
×
\$1
=
\$1.09

\$1 in 1947 has the same "purchasing power" or "buying power" as \$1.09 in 1948.

To get the total inflation rate for the 1 years between 1947 and 1948, we use the following formula:

CPI in 1948 - CPI in 1947CPI in 1947
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

3.7 - 3.43.4
×
100
=
9%

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

• Civil disorder in Taiwan is put down resulting in the loss of 30,000 civilian lives.
• The new Japanese constitution comes into effect.
• The alleged Roswell UFO incident happens.

### 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 1948 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Jan. 2020, https://www.officialdata.org/Australia-inflation-rate-in-1948.