Australia Inflation Calculator
Australian Inflation Rate, $100 in 1928 to 2019
According to the Bureau of Statistics consumer price index, today's prices in 2019 are 3,856.53% higher than average prices throughout 1928. The dollar experienced an average inflation rate of 4.12% per year during this period, meaning the real value of a dollar decreased.
In other words, $100 in 1928 is equivalent in purchasing power to about $3,956.53 in 2019, a difference of $3,856.53 over 91 years.
The 1928 inflation rate was 3.57%. The current inflation rate (2018 to 2019) is now 1.90%1. If this number holds, $100 today will be equivalent in buying power to $101.90 next year.
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| Cumulative price change | 3,856.53% |
| Average inflation rate | 4.12% |
| Converted amount ($100 base) | $3,956.53 |
| Price difference ($100 base) | $3,856.53 |
| CPI in 1928 | 2.900 |
| CPI in 2019 | 114.739 |
| Inflation in 1928 | 3.57% |
| Inflation in 2019 | 1.90% |
Buying power of $100 in 1928
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $100 in 1928 (price index tracking began in 1922).
According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:
How to Calculate Inflation Rate for $100 since 1928
This inflation calculator uses the following inflation rate formula:
CPI in 2019CPI in 1928
×
1928 AUD value
=
2019 AUD value
Then plug in historical CPI values. The Australian CPI was 2.9 in the year 1928 and 114.73939999999999 in 2019:
114.739399999999992.9
×
$100
=
$3,956.53
$100 in 1928 has the same "purchasing power" or "buying power" as $3,956.53 in 2019.
To get the total inflation rate for the 91 years between 1928 and 2019, we use the following formula:
CPI in 2019 - CPI in 1928CPI in 1928
×
100
=
Cumulative inflation rate (91 years)
Plugging in the values to this equation, we get:
114.73939999999999 - 2.92.9
×
100
=
3,857%
News headlines from 1928
Politics and news often influence economic performance. Here's what was happening at the time:
- Amelia Earhart becomes the first woman to fly across the Atlantic Ocean.
- Jawaharlal Nehru requests Indian independence.
- Alexander Fleming, a Scottish bacteriologist, accidentally discovers penicillin while studying influenza.
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: “1928 dollars in 2019 | Australia Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 16 Dec. 2019, https://www.officialdata.org/au/inflation/1928.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | 3,856.53% |
| Average inflation rate | 4.12% |
| Converted amount ($100 base) | $3,956.53 |
| Price difference ($100 base) | $3,856.53 |
| CPI in 1928 | 2.900 |
| CPI in 2019 | 114.739 |
| Inflation in 1928 | 3.57% |
| Inflation in 2019 | 1.90% |