Inflation in 1979 and its effect on dollar value
$1 in 1978 is equivalent in purchasing power to about $1.09 in 1979. The dollar had an average inflation rate of 9.13% per year between 1978 and 1979, producing a cumulative price increase of 9.13%. Purchasing power decreased by 9.13% in 1979 compared to 1978. On average, you would have to spend 9.13% more money in 1979 than in 1978 for the same item.
This means that prices in 1979 are 1.09 times as high as average prices since 1978, according to the Bureau of Statistics consumer price index.
The inflation rate in 1978 was 7.88%. The inflation rate in 1979 was 9.13%. The 1979 inflation rate is higher compared to the average inflation rate of 3.93% per year between 1979 and 2024.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1979 was 23.90. It was 21.90 in the previous year, 1978. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
⌃
| Average inflation rate | 9.13% |
| Converted amount $1 base | $1.09 |
| Price difference $1 base | $0.09 |
| CPI in 1978 | 21.900 |
| CPI in 1979 | 23.900 |
| Inflation in 1978 | 7.88% |
| Inflation in 1979 | 9.13% |
| $1 in 1978 | $1.09 in 1979 |
How to calculate inflation rate for $1, 1978 to 1979
Our calculations use the following inflation rate formula to calculate the change in value between 1978 and 1979:
CPI in 1979 CPI in 1978
×
1978 AUD value
=
1979 AUD value
Then plug in historical CPI values. The Australian CPI was 21.9 in the year 1978 and 23.9 in 1979:
23.921.9
×
$1
=
$1.09
$1 in 1978 has the same "purchasing power" or "buying power" as $1.09 in 1979.
To get the total inflation rate for the 1 years between 1978 and 1979, we use the following formula:
CPI in 1979 - CPI in 1978CPI in 1978
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
23.9 - 21.921.9
×
100
=
9%
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 1979 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Dec. 2024, https://www.officialdata.org/Australia-inflation-rate-in-1979.
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 | 9.13% |
| Converted amount $1 base | $1.09 |
| Price difference $1 base | $0.09 |
| CPI in 1978 | 21.900 |
| CPI in 1979 | 23.900 |
| Inflation in 1978 | 7.88% |
| Inflation in 1979 | 9.13% |
| $1 in 1978 | $1.09 in 1979 |