Australian inflation rate in 1965: 3.70%

Inflation in 1965 and its effect on dollar value

Purchasing power decreased by 3.70% in 1965 compared to 1964. On average, you would have to spend 3.70% more money in 1965 than in 1964 for the same item.

In other words, $1 in 1964 is equivalent in purchasing power to about $1.04 in 1965.

The 1964 inflation rate was 2.53%. The inflation rate in 1965 was 3.70%. The 1965 inflation rate is lower compared to the average inflation rate of 4.90% per year between 1965 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1965 was 8.40. It was 8.10 in the previous year, 1964. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1964 to 1965
Average inflation rate 3.70%
Converted amount ($1 base) $1.04
Price difference ($1 base) $0.04
CPI in 1964 8.100
CPI in 1965 8.400
Inflation in 1964 2.53%
Inflation in 1965 3.70%

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

How to Calculate Inflation Rate for $1, 1964 to 1965

Our calculations use the following inflation rate formula to calculate the change in value between 1964 and 1965:

CPI in 1965 CPI in 1964
×
1964 AUD value
=
1965 AUD value

Then plug in historical CPI values. The Australian CPI was 8.1 in the year 1964 and 8.4 in 1965:

8.48.1
×
$1
=
$1.04

$1 in 1964 has the same "purchasing power" or "buying power" as $1.04 in 1965.

To get the total inflation rate for the 1 years between 1964 and 1965, we use the following formula:

CPI in 1965 - CPI in 1964CPI in 1964
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.4 - 8.18.1
×
100
=
4%

News headlines from 1964

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

  • Jomo Kenyatta becomes first President of Kenya after it becomes a republic.
  • Nelson Mandela is sentenced to life-long imprisonment in South Africa.
  • President Lyndon B. Johnson signs the Civil Rights Act and Voting Rights Act into law.

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 1965 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 13 Aug. 2020, https://www.officialdata.org/Australia-inflation-rate-in-1965.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1964 to 1965
Average inflation rate 3.70%
Converted amount ($1 base) $1.04
Price difference ($1 base) $0.04
CPI in 1964 8.100
CPI in 1965 8.400
Inflation in 1964 2.53%
Inflation in 1965 3.70%