Australian inflation rate in 2016: 1.30%

Australia Inflation Calculator

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Inflation in 2016 and Its Effect on Dollar Value

Purchasing power decreased by 1.30% in 2016 compared to 2015. On average, you would have to spend 1.30% more money in 2016 than in 2015 for the same item.

In other words, \$1 in 2015 is equivalent in purchasing power to about \$1.01 in 2016.

The 2015 inflation rate was 1.51%. The inflation rate in 2016 was 1.30%. The 2016 inflation rate is lower compared to the average inflation rate of 1.75% per year between 2016 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2016 was 109.10. It was 107.70 in the previous year, 2015. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.

 Average inflation rate 1.30% Converted amount (\$1 base) \$1.01 Price difference (\$1 base) \$0.01 CPI in 2015 107.700 CPI in 2016 109.100 Inflation in 2015 1.51% Inflation in 2016 1.30%

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

How to Calculate Inflation Rate for \$1, 2015 to 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2016CPI in 2015
×
2015 AUD value
=
2016 AUD value

Then plug in historical CPI values. The Australian CPI was 107.7 in the year 2015 and 109.1 in 2016:

109.1107.7
×
\$1
=
\$1.01

\$1 in 2015 has the same "purchasing power" or "buying power" as \$1.01 in 2016.

To get the total inflation rate for the 1 years between 2015 and 2016, we use the following formula:

CPI in 2016 - CPI in 2015CPI in 2015
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

109.1 - 107.7107.7
×
100
=
1%

Politics and news often influence economic performance. Here's what was happening at the time:

• Barack Obama and Raul Castro, hold the first meeting between Cuban and American leaders since the Cuban Revolution.
• The population of India reaches 1 billion (officially). The billionth baby was named Astha Arora.
• Donald Trump announces his intention to join the US presidential campaign.
• China brings an end to its one child policy, 35 years after it was first introduced.

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 2016 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 Mar. 2020, https://www.officialdata.org/Australia-inflation-rate-in-2016.