Inflation in 2012 and its effect on dollar value
$1 in 2011 is equivalent in purchasing power to about $1.02 in 2012. The dollar had an average inflation rate of 1.71% per year between 2011 and 2012, producing a cumulative price increase of 1.71%. Purchasing power decreased by 1.71% in 2012 compared to 2011. On average, you would have to spend 1.71% more money in 2012 than in 2011 for the same item.
This means that prices in 2012 are 1.02 times as high as average prices since 2011, according to the Bureau of Statistics consumer price index.
The inflation rate in 2011 was 3.33%. The inflation rate in 2012 was 1.71%. The 2012 inflation rate is lower compared to the average inflation rate of 2.47% per year between 2012 and 2024.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2012 was 101.00. It was 99.30 in the previous year, 2011. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.
⌃
| Average inflation rate | 1.71% |
| Converted amount $1 base | $1.02 |
| Price difference $1 base | $0.02 |
| CPI in 2011 | 99.300 |
| CPI in 2012 | 101.000 |
| Inflation in 2011 | 3.33% |
| Inflation in 2012 | 1.71% |
| $1 in 2011 | $1.02 in 2012 |
How to calculate inflation rate for $1, 2011 to 2012
Our calculations use the following inflation rate formula to calculate the change in value between 2011 and 2012:
CPI in 2012 CPI in 2011
×
2011 AUD value
=
2012 AUD value
Then plug in historical CPI values. The Australian CPI was 99.3 in the year 2011 and 101 in 2012:
10199.3
×
$1
=
$1.02
$1 in 2011 has the same "purchasing power" or "buying power" as $1.02 in 2012.
To get the total inflation rate for the 1 years between 2011 and 2012, we use the following formula:
CPI in 2012 - CPI in 2011CPI in 2011
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
101 - 99.399.3
×
100
=
2%
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 2012 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Dec. 2024, https://www.officialdata.org/Australia-inflation-rate-in-2012.
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 | 1.71% |
| Converted amount $1 base | $1.02 |
| Price difference $1 base | $0.02 |
| CPI in 2011 | 99.300 |
| CPI in 2012 | 101.000 |
| Inflation in 2011 | 3.33% |
| Inflation in 2012 | 1.71% |
| $1 in 2011 | $1.02 in 2012 |