Australian inflation rate in 2014: 2.51%

Inflation in 2014 and its effect on dollar value

$1 in 2013 is equivalent in purchasing power to about $1.03 in 2014. The dollar had an average inflation rate of 2.51% per year between 2013 and 2014, producing a cumulative price increase of 2.51%. Purchasing power decreased by 2.51% in 2014 compared to 2013. On average, you would have to spend 2.51% more money in 2014 than in 2013 for the same item.

This means that prices in 2014 are 1.03 times higher than average prices since 2013, according to the Bureau of Statistics consumer price index.

The inflation rate in 2013 was 2.48%. The inflation rate in 2014 was 2.51%. The 2014 inflation rate is higher compared to the average inflation rate of 1.96% per year between 2014 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2014 was 106.10. It was 103.50 in the previous year, 2013. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 2013 to 2014
Average inflation rate2.51%
Converted amount ($1 base)$1.03
Price difference ($1 base)$0.03
CPI in 2013103.500
CPI in 2014106.100
Inflation in 20132.48%
Inflation in 20142.51%
$1 in 2013$1.03 in 2014

Recent AUD inflation
Annual Rate, the Bureau of Statistics CPI
Download

How to calculate inflation rate for $1, 2013 to 2014

Our calculations use the following inflation rate formula to calculate the change in value between 2013 and 2014:

CPI in 2014 CPI in 2013
×
2013 AUD value
=
2014 AUD value

Then plug in historical CPI values. The Australian CPI was 103.5 in the year 2013 and 106.1 in 2014:

106.1103.5
×
$1
=
$1.03

$1 in 2013 has the same "purchasing power" or "buying power" as $1.03 in 2014.

To get the total inflation rate for the 1 years between 2013 and 2014, we use the following formula:

CPI in 2014 - CPI in 2013CPI in 2013
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

106.1 - 103.5103.5
×
100
=
3%

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 2014 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Aug. 2022, https://www.officialdata.org/Australia-inflation-rate-in-2014.

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 2013 to 2014
Average inflation rate2.51%
Converted amount ($1 base)$1.03
Price difference ($1 base)$0.03
CPI in 2013103.500
CPI in 2014106.100
Inflation in 20132.48%
Inflation in 20142.51%
$1 in 2013$1.03 in 2014