$1 in 1940 → $1.19 in 1943

Australia Inflation Calculator

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Australian Inflation Rate, $1 from 1940 to 1943

According to the Bureau of Statistics consumer price index, prices in 1943 are 18.52% higher than average prices since 1940. The Australian dollar experienced an average inflation rate of 5.83% per year during this period, meaning the real value of a dollar decreased.

In other words, $1 in 1940 is equivalent in purchasing power to about $1.19 in 1943, a difference of $0.19 over 3 years.

The 1940 inflation rate was 3.85%. The inflation rate in 1943 was 3.23%. The 1943 inflation rate is lower compared to the average inflation rate of 4.78% per year between 1943 and 2020.


Inflation from 1940 to 1943
Cumulative price change 18.52%
Average inflation rate 5.83%
Converted amount ($1 base) $1.19
Price difference ($1 base) $0.19
CPI in 1940 2.700
CPI in 1943 3.200
Inflation in 1940 3.85%
Inflation in 1943 3.23%

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

Buying power of $1 in 1940

This chart shows a calculation of buying power equivalence for $1 in 1940 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $1.19 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.19 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 1940 dollars, the chart below shows how $1 buys less over the past 3 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:

Year Dollar Value Inflation Rate
1940 $1.00 3.85%
1941 $1.04 3.70%
1942 $1.15 10.71%
1943 $1.19 3.23%
1944 $1.19 0.00%
1945 $1.19 0.00%
1946 $1.19 0.00%
1947 $1.26 6.25%
1948 $1.37 8.82%
1949 $1.48 8.11%
1950 $1.63 10.00%
1951 $1.93 18.18%
1952 $2.26 17.31%
1953 $2.37 4.92%
1954 $2.41 1.56%
1955 $2.44 1.54%
1956 $2.59 6.06%
1957 $2.67 2.86%
1958 $2.67 0.00%
1959 $2.74 2.78%
1960 $2.85 4.05%
1961 $2.89 1.30%
1962 $2.89 0.00%
1963 $2.93 1.28%
1964 $3.00 2.53%
1965 $3.11 3.70%
1966 $3.19 2.38%
1967 $3.30 3.49%
1968 $3.41 3.37%
1969 $3.52 3.26%
1970 $3.63 3.16%
1971 $3.85 6.12%
1972 $4.07 5.77%
1973 $4.44 9.09%
1974 $5.15 15.83%
1975 $5.93 15.11%
1976 $6.70 13.13%
1977 $7.52 12.15%
1978 $8.11 7.88%
1979 $8.85 9.13%
1980 $9.78 10.46%
1981 $10.70 9.47%
1982 $11.89 11.07%
1983 $13.11 10.28%
1984 $13.63 3.95%
1985 $14.52 6.52%
1986 $15.85 9.18%
1987 $17.19 8.41%
1988 $18.44 7.33%
1989 $19.81 7.43%
1990 $21.30 7.48%
1991 $21.96 3.13%
1992 $22.19 1.01%
1993 $22.56 1.67%
1994 $23.00 1.97%
1995 $24.07 4.67%
1996 $24.70 2.62%
1997 $24.78 0.30%
1998 $24.96 0.75%
1999 $25.33 1.48%
2000 $26.48 4.53%
2001 $27.63 4.34%
2002 $28.48 3.08%
2003 $29.26 2.73%
2004 $29.93 2.28%
2005 $30.74 2.72%
2006 $31.81 3.49%
2007 $32.56 2.33%
2008 $34.00 4.44%
2009 $34.59 1.74%
2010 $35.59 2.89%
2011 $36.78 3.33%
2012 $37.41 1.71%
2013 $38.33 2.48%
2014 $39.30 2.51%
2015 $39.89 1.51%
2016 $40.41 1.30%
2017 $41.19 1.92%
2018 $41.70 1.26%
2019 $42.50 1.90%
2020 $43.30 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

How to Calculate Inflation Rate for $1, 1940 to 1943

This inflation calculator uses the following inflation rate formula:

CPI in 1943CPI in 1940
×
1940 AUD value
=
1943 AUD value

Then plug in historical CPI values. The Australian CPI was 2.7 in the year 1940 and 3.2 in 1943:

3.22.7
×
$1
=
$1.19

$1 in 1940 has the same "purchasing power" or "buying power" as $1.19 in 1943.

To get the total inflation rate for the 3 years between 1940 and 1943, we use the following formula:

CPI in 1943 - CPI in 1940CPI in 1940
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

3.2 - 2.72.7
×
100
=
19%

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: “$1 in 1940 → 1943 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Feb. 2020, https://www.officialdata.org/australia/inflation/1940?amount=1&endYear=1943.

Special thanks to QuickChart for providing downloadable chart images.

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 1940 to 1943
Cumulative price change 18.52%
Average inflation rate 5.83%
Converted amount ($1 base) $1.19
Price difference ($1 base) $0.19
CPI in 1940 2.700
CPI in 1943 3.200
Inflation in 1940 3.85%
Inflation in 1943 3.23%