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# Australian inflation rate in 1962: 0.00%

### Inflation in 1962 and Its Effect on Dollar Value

Purchasing power decreased by 0.00% in 1962 compared to 1961. On average, you would have to spend 0.00% more money in 1962 than in 1961 for the same item.

In other words, \$1 in 1961 is equivalent in purchasing power to about \$1 in 1962.

The 1961 inflation rate was 1.30%. The inflation rate in 1962 was 0.00%. The 1962 inflation rate is lower compared to the average inflation rate of 4.78% per year between 1962 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1962 was 7.80. It was 7.80 in the previous year, 1961. 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 1961 7.800 CPI in 1962 7.800 Inflation in 1961 1.30% Inflation in 1962 0.00%

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

### How to Calculate Inflation Rate for \$1, 1961 to 1962

This inflation calculator uses the following inflation rate formula:

CPI in 1962CPI in 1961
×
1961 AUD value
=
1962 AUD value

Then plug in historical CPI values. The Australian CPI was 7.8 in the year 1961 and 7.8 in 1962:

7.87.8
×
\$1
=
\$1

\$1 in 1961 has the same "purchasing power" or "buying power" as \$1 in 1962.

To get the total inflation rate for the 1 years between 1961 and 1962, we use the following formula:

CPI in 1962 - CPI in 1961CPI in 1961
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.8 - 7.87.8
×
100
=
0%

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

• A dog named Chernushka, frogs, and a guinea pig orbit the Earth in the Soviet flight Sputnik 9.
• Nelson Mandela is acquitted of treason after a four-and-a-half year trial.

### 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 1962 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Jan. 2020, https://www.officialdata.org/Australia-inflation-rate-in-1962.