Inflation in 1976 and its effect on dollar value
$1 in 1975 is equivalent in purchasing power to about $1.13 in 1976. The dollar had an average inflation rate of 13.13% per year between 1975 and 1976, producing a cumulative price increase of 13.13%. Purchasing power decreased by 13.13% in 1976 compared to 1975. On average, you would have to spend 13.13% more money in 1976 than in 1975 for the same item.
This means that prices in 1976 are 1.13 times as high as average prices since 1975, according to the Bureau of Statistics consumer price index.
The inflation rate in 1975 was 15.11%. The inflation rate in 1976 was 13.13%. The 1976 inflation rate is higher compared to the average inflation rate of 4.28% per year between 1976 and 2024.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1976 was 18.10. It was 16.00 in the previous year, 1975. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
⌃
| Average inflation rate | 13.13% |
| Converted amount $1 base | $1.13 |
| Price difference $1 base | $0.13 |
| CPI in 1975 | 16.000 |
| CPI in 1976 | 18.100 |
| Inflation in 1975 | 15.11% |
| Inflation in 1976 | 13.13% |
| $1 in 1975 | $1.13 in 1976 |
How to calculate inflation rate for $1, 1975 to 1976
Our calculations use the following inflation rate formula to calculate the change in value between 1975 and 1976:
CPI in 1976 CPI in 1975
×
1975 AUD value
=
1976 AUD value
Then plug in historical CPI values. The Australian CPI was 16 in the year 1975 and 18.1 in 1976:
18.116
×
$1
=
$1.13
$1 in 1975 has the same "purchasing power" or "buying power" as $1.13 in 1976.
To get the total inflation rate for the 1 years between 1975 and 1976, we use the following formula:
CPI in 1976 - CPI in 1975CPI in 1975
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
18.1 - 1616
×
100
=
13%
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 1976 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 11 Dec. 2024, https://www.officialdata.org/Australia-inflation-rate-in-1976.
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 | 13.13% |
| Converted amount $1 base | $1.13 |
| Price difference $1 base | $0.13 |
| CPI in 1975 | 16.000 |
| CPI in 1976 | 18.100 |
| Inflation in 1975 | 15.11% |
| Inflation in 1976 | 13.13% |
| $1 in 1975 | $1.13 in 1976 |