# Australian inflation rate in 2017: 1.92%

\$

## Inflation in 2017 and its effect on dollar value

\$1 in 2016 is equivalent in purchasing power to about \$1.02 in 2017. The dollar had an average inflation rate of 1.92% per year between 2016 and 2017, producing a cumulative price increase of 1.92%. Purchasing power decreased by 1.92% in 2017 compared to 2016. On average, you would have to spend 1.92% more money in 2017 than in 2016 for the same item.

This means that prices in 2017 are 1.02 times as high as average prices since 2016, according to the Bureau of Statistics consumer price index.

The inflation rate in 2016 was 1.30%. The inflation rate in 2017 was 1.92%. The 2017 inflation rate is lower compared to the average inflation rate of 2.84% per year between 2017 and 2024.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2017 was 111.20. It was 109.10 in the previous year, 2016. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.

 Average inflation rate 1.92% Converted amount\$1 base \$1.02 Price difference\$1 base \$0.02 CPI in 2016 109.100 CPI in 2017 111.200 Inflation in 2016 1.30% Inflation in 2017 1.92% \$1 in 2016 \$1.02 in 2017

Recent AUD inflation
Annual Rate, the Bureau of Statistics CPI

## How to calculate inflation rate for \$1, 2016 to 2017

Our calculations use the following inflation rate formula to calculate the change in value between 2016 and 2017:

CPI in 2017 CPI in 2016
×
2016 AUD value
=
2017 AUD value

Then plug in historical CPI values. The Australian CPI was 109.1 in the year 2016 and 111.2 in 2017:

111.2109.1
×
\$1
=
\$1.02

\$1 in 2016 has the same "purchasing power" or "buying power" as \$1.02 in 2017.

To get the total inflation rate for the 1 years between 2016 and 2017, we use the following formula:

CPI in 2017 - CPI in 2016CPI in 2016
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

111.2 - 109.1109.1
×
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 2017 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 12 Sep. 2024, https://www.officialdata.org/Australia-inflation-rate-in-2017.

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.

#### 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 1.92% Converted amount\$1 base \$1.02 Price difference\$1 base \$0.02 CPI in 2016 109.100 CPI in 2017 111.200 Inflation in 2016 1.30% Inflation in 2017 1.92% \$1 in 2016 \$1.02 in 2017