# \$100 in 1943 is worth \$3,653.73 today

\$

## Why a dollar today is worth only 3% of a dollar in 1943

Updated: May 12, 2020

According to the Bureau of Statistics consumer price index, today's prices in 2020 are 3,553.73% higher than average prices since 1943. This means that a dollar today only buys 2.74% of what it could buy in 1943. The Australian dollar experienced an average inflation rate of 4.78% per year during this period, causing the real value of a dollar to decrease.

In other words, \$100 in 1943 is equivalent in purchasing power to about \$3,653.73 in 2020, a difference of \$3,553.73 over 77 years.

The 1943 inflation rate was 3.23%. The current year-over-year inflation rate (2019 to 2020) is now 1.90%1. If this number holds, \$100 today will be equivalent in buying power to \$101.90 next year.

 Cumulative price change 3,553.73% Average inflation rate 4.78% Converted amount (\$100 base) \$3,653.73 Price difference (\$100 base) \$3,553.73 CPI in 1943 3.200 CPI in 2020 116.919 Inflation in 1943 3.23% Inflation in 2020 1.90%

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

## Buying power of \$100 in 1943

This chart shows a calculation of buying power equivalence for \$100 in 1943 (price index tracking began in 1922).

For example, if you started with \$100, you would need to end with \$3,653.73 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$3,653.73 over time, that means that the "real value" of a single Australian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1943 dollars, the chart below shows how \$100 is worth less over 77 years.

According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1943-2020
Year Dollar Value Inflation Rate
1943 \$100.00 3.23%
1944 \$100.00 0.00%
1945 \$100.00 0.00%
1946 \$100.00 0.00%
1947 \$106.25 6.25%
1948 \$115.63 8.82%
1949 \$125.00 8.11%
1950 \$137.50 10.00%
1951 \$162.50 18.18%
1952 \$190.62 17.31%
1953 \$200.00 4.92%
1954 \$203.13 1.56%
1955 \$206.25 1.54%
1956 \$218.75 6.06%
1957 \$225.00 2.86%
1958 \$225.00 0.00%
1959 \$231.25 2.78%
1960 \$240.63 4.05%
1961 \$243.75 1.30%
1962 \$243.75 0.00%
1963 \$246.88 1.28%
1964 \$253.12 2.53%
1965 \$262.50 3.70%
1966 \$268.75 2.38%
1967 \$278.13 3.49%
1968 \$287.50 3.37%
1969 \$296.88 3.26%
1970 \$306.25 3.16%
1971 \$325.00 6.12%
1972 \$343.75 5.77%
1973 \$375.00 9.09%
1974 \$434.38 15.83%
1975 \$500.00 15.11%
1976 \$565.63 13.13%
1977 \$634.38 12.15%
1978 \$684.37 7.88%
1979 \$746.87 9.13%
1980 \$825.00 10.46%
1981 \$903.12 9.47%
1982 \$1,003.13 11.07%
1983 \$1,106.25 10.28%
1984 \$1,150.00 3.95%
1985 \$1,225.00 6.52%
1986 \$1,337.50 9.18%
1987 \$1,450.00 8.41%
1988 \$1,556.25 7.33%
1989 \$1,671.88 7.43%
1990 \$1,796.88 7.48%
1991 \$1,853.12 3.13%
1992 \$1,871.88 1.01%
1993 \$1,903.13 1.67%
1994 \$1,940.63 1.97%
1995 \$2,031.25 4.67%
1996 \$2,084.38 2.62%
1997 \$2,090.63 0.30%
1998 \$2,106.25 0.75%
1999 \$2,137.50 1.48%
2000 \$2,234.38 4.53%
2001 \$2,331.25 4.34%
2002 \$2,403.13 3.08%
2003 \$2,468.75 2.73%
2004 \$2,525.00 2.28%
2005 \$2,593.75 2.72%
2006 \$2,684.38 3.49%
2007 \$2,746.88 2.33%
2008 \$2,868.75 4.44%
2009 \$2,918.75 1.74%
2010 \$3,003.12 2.89%
2011 \$3,103.12 3.33%
2012 \$3,156.25 1.71%
2013 \$3,234.38 2.48%
2014 \$3,315.62 2.51%
2015 \$3,365.63 1.51%
2016 \$3,409.37 1.30%
2017 \$3,475.00 1.92%
2018 \$3,518.75 1.26%
2019 \$3,585.61 1.90%
2020 \$3,653.73 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 71 more rows

This conversion table shows various other 1943 amounts in today's dollars, based on the 3,553.73% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
\$1 dollar in 1943 \$36.54 dollars today
\$5 dollars in 1943 \$182.69 dollars today
\$10 dollars in 1943 \$365.37 dollars today
\$50 dollars in 1943 \$1,826.87 dollars today
\$100 dollars in 1943 \$3,653.73 dollars today
\$500 dollars in 1943 \$18,268.66 dollars today
\$1,000 dollars in 1943 \$36,537.33 dollars today
\$5,000 dollars in 1943 \$182,686.64 dollars today
\$10,000 dollars in 1943 \$365,373.28 dollars today
\$50,000 dollars in 1943 \$1,826,866.38 dollars today
\$100,000 dollars in 1943 \$3,653,732.77 dollars today
\$500,000 dollars in 1943 \$18,268,663.84 dollars today
\$1,000,000 dollars in 1943 \$36,537,327.69 dollars today

## How to Calculate Inflation Rate for \$100 since 1943

Our calculations use the following inflation rate formula to calculate the change in value between 1943 and today:

CPI today CPI in 1943
×
1943 AUD value
=
Today's value

Then plug in historical CPI values. The Australian CPI was 3.2 in the year 1943 and 116.91944859999998 in 2020:

116.919448599999983.2
×
\$100
=
\$3,653.73

\$100 in 1943 has the same "purchasing power" or "buying power" as \$3,653.73 in 2020.

To get the total inflation rate for the 77 years between 1943 and 2020, we use the following formula:

CPI in 2020 - CPI in 1943CPI in 1943
×
100
=
Cumulative inflation rate (77 years)

Plugging in the values to this equation, we get:

116.91944859999998 - 3.23.2
×
100
=
3,554%

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

• German general Friedrich von Paul surrenders to the Russians in Stalingrad.
• The Japanese evacuate Guadalcanal, leading to one of the great WWII battles on the Solomon Islands
• The Krakow Ghetto is liquidated by the Nazis.
• The RAF bomb the Möhne and Eder dams in the Ruhr valley, in an operation known as Chastise.
• Himmler orders the extermination of all the Nazi ghettos in Poland.

## 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: “Value of 1943 dollars today | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 31 May. 2020, https://www.officialdata.org/au/inflation/1943.