Australian inflation rate in 1977: 12.15%

Inflation in 1977 and its effect on dollar value

$1 in 1976 is equivalent in purchasing power to about $1.12 in 1977. The dollar had an average inflation rate of 12.15% per year between 1976 and 1977, producing a cumulative price increase of 12.15%. Purchasing power decreased by 12.15% in 1977 compared to 1976. On average, you would have to spend 12.15% more money in 1977 than in 1976 for the same item.

This means that prices in 1977 are 1.12 times as high as average prices since 1976, according to the Bureau of Statistics consumer price index.

The inflation rate in 1976 was 13.13%. The inflation rate in 1977 was 12.15%. The 1977 inflation rate is higher compared to the average inflation rate of 4.12% per year between 1977 and 2024.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1977 was 20.30. It was 18.10 in the previous year, 1976. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 1976 to 1977
Average inflation rate12.15%
Converted amount
$1 base
$1.12
Price difference
$1 base
$0.12
CPI in 197618.100
CPI in 197720.300
Inflation in 197613.13%
Inflation in 197712.15%
$1 in 1976$1.12 in 1977

Recent AUD inflation
Annual Rate, the Bureau of Statistics CPI
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How to calculate inflation rate for $1, 1976 to 1977

Our calculations use the following inflation rate formula to calculate the change in value between 1976 and 1977:

CPI in 1977 CPI in 1976
×
1976 AUD value
=
1977 AUD value

Then plug in historical CPI values. The Australian CPI was 18.1 in the year 1976 and 20.3 in 1977:

20.318.1
×
$1
=
$1.12

$1 in 1976 has the same "purchasing power" or "buying power" as $1.12 in 1977.

To get the total inflation rate for the 1 years between 1976 and 1977, we use the following formula:

CPI in 1977 - CPI in 1976CPI in 1976
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

20.3 - 18.118.1
×
100
=
12%

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 1977 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Mar. 2024, https://www.officialdata.org/Australia-inflation-rate-in-1977.

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 1976 to 1977
Average inflation rate12.15%
Converted amount
$1 base
$1.12
Price difference
$1 base
$0.12
CPI in 197618.100
CPI in 197720.300
Inflation in 197613.13%
Inflation in 197712.15%
$1 in 1976$1.12 in 1977