Australian inflation rate in 2018: 1.89%

Inflation in 2018 and its effect on dollar value

$1 in 2017 is equivalent in purchasing power to about $1.02 in 2018. The dollar had an average inflation rate of 1.89% per year between 2017 and 2018, producing a cumulative price increase of 1.89%. Purchasing power decreased by 1.89% in 2018 compared to 2017. On average, you would have to spend 1.89% more money in 2018 than in 2017 for the same item.

This means that prices in 2018 are 1.02 times higher than average prices since 2017, according to the Bureau of Statistics consumer price index.

The inflation rate in 2017 was 1.92%. The inflation rate in 2018 was 1.89%. The 2018 inflation rate is lower compared to the average inflation rate of 3.12% per year between 2018 and 2022.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2018 was 113.30. It was 111.20 in the previous year, 2017. The difference in CPI between the years is used by the Bureau of Statistics to officially determine inflation.


Inflation from 2017 to 2018
Average inflation rate1.89%
Converted amount ($1 base)$1.02
Price difference ($1 base)$0.02
CPI in 2017111.200
CPI in 2018113.300
Inflation in 20171.92%
Inflation in 20181.89%
$1 in 2017$1.02 in 2018

Recent AUD inflation
Annual Rate, the Bureau of Statistics CPI
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How to calculate inflation rate for $1, 2017 to 2018

Our calculations use the following inflation rate formula to calculate the change in value between 2017 and 2018:

CPI in 2018 CPI in 2017
×
2017 AUD value
=
2018 AUD value

Then plug in historical CPI values. The Australian CPI was 111.2 in the year 2017 and 113.3 in 2018:

113.3111.2
×
$1
=
$1.02

$1 in 2017 has the same "purchasing power" or "buying power" as $1.02 in 2018.

To get the total inflation rate for the 1 years between 2017 and 2018, we use the following formula:

CPI in 2018 - CPI in 2017CPI in 2017
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

113.3 - 111.2111.2
×
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 2018 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Dec. 2022, https://www.officialdata.org/Australia-inflation-rate-in-2018.

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 2017 to 2018
Average inflation rate1.89%
Converted amount ($1 base)$1.02
Price difference ($1 base)$0.02
CPI in 2017111.200
CPI in 2018113.300
Inflation in 20171.92%
Inflation in 20181.89%
$1 in 2017$1.02 in 2018