# Australian inflation rate in 1979: 9.13%

## Australia Inflation Calculator

\$

### Inflation in 1979 and Its Effect on Dollar Value

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.

In other words, \$1 in 1978 is equivalent in purchasing power to about \$1.09 in 1979.

The 1978 inflation rate was 7.88%. The inflation rate in 1979 was 9.13%. The 1979 inflation rate is higher compared to the average inflation rate of 3.95% per year between 1979 and 2020.

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%

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

### How to Calculate Inflation Rate for \$1, 1978 to 1979

This inflation calculator uses the following inflation rate formula:

CPI in 1979CPI 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, 26 Mar. 2020, https://www.officialdata.org/Australia-inflation-rate-in-1979.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

#### 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.

 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%