Inflation in 2011 and its effect on dollar value
Purchasing power decreased by 3.33% in 2011 compared to 2010. On average, you would have to spend 3.33% more money in 2011 than in 2010 for the same item.
In other words, $1 in 2010 is equivalent in purchasing power to about $1.03 in 2011.
The 2010 inflation rate was 2.89%. The inflation rate in 2011 was 3.33%. The 2011 inflation rate is higher compared to the average inflation rate of 1.83% per year between 2011 and 2020.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2011 was 99.30. It was 96.10 in the previous year, 2010. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
⌃
| Average inflation rate | 3.33% |
| Converted amount ($1 base) | $1.03 |
| Price difference ($1 base) | $0.03 |
| CPI in 2010 | 96.100 |
| CPI in 2011 | 99.300 |
| Inflation in 2010 | 2.89% |
| Inflation in 2011 | 3.33% |
How to Calculate Inflation Rate for $1, 2010 to 2011
Our calculations use the following inflation rate formula to calculate the change in value between 2010 and 2011:
CPI in 2011
CPI in 2010
×
2010 AUD value
=
2011 AUD value
Then plug in historical CPI values. The Australian CPI was 96.1 in the year 2010 and 99.3 in 2011:
99.396.1
×
$1
=
$1.03
$1 in 2010 has the same "purchasing power" or "buying power" as $1.03 in 2011.
To get the total inflation rate for the 1 years between 2010 and 2011, we use the following formula:
CPI in 2011 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
99.3 - 96.196.1
×
100
=
3%
News headlines from 2010
Politics and news often influence economic performance. Here's what was happening at the time:
- The Copiapo mining accident in Chile ends, after 33 miners resurface having spent 69 days trapped in the ruins.
- Big Haiti earthquake kills 230,000 people and leaves most of Port-au-Prince, its capital, in ruins.
- An explosion on the Deepwater Horizon (a drilling rig), kills 11 people and spills a massive amount of oil into the Gulf of Mexico.
- The US army abolishes the "Don't Ask Don't Tell" policy, which had banned homosexuals from openly serving in the US military.
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 2011 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Aug. 2020, https://www.officialdata.org/Australia-inflation-rate-in-2011.
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 | 3.33% |
| Converted amount ($1 base) | $1.03 |
| Price difference ($1 base) | $0.03 |
| CPI in 2010 | 96.100 |
| CPI in 2011 | 99.300 |
| Inflation in 2010 | 2.89% |
| Inflation in 2011 | 3.33% |