$1 in 1954 is worth $0.98 in 1954

Value of $1 from 1955 to 1954

According to the Bureau of Statistics consumer price index, prices in 1954 are 1.52% lower than average prices since 1955. The Australian dollar experienced an average inflation rate of 1.54% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1955 is equivalent in purchasing power to about $0.98 in 1954.

The 1954 inflation rate was 1.56%. The inflation rate in 1955 was 1.54%. The 1955 inflation rate is lower compared to the average inflation rate of 4.52% per year between 1955 and 2020.


Inflation from 1955 to 1954
Average inflation rate 1.54%
Converted amount ($1 base) $0.98
Price difference ($1 base) $-0.02
CPI in 1955 6.600
CPI in 1954 6.500
Inflation in 1954 1.56%
Inflation in 1955 1.54%

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

How to Calculate Inflation Rate for $1, 1954 to 1955

Our calculations use the following inflation rate formula to calculate the change in value between 1954 and 1955:

CPI in 1954 CPI in 1955
×
1955 AUD value
=
1954 AUD value

Then plug in historical CPI values. The Australian CPI was 6.6 in the year 1955 and 6.5 in 1954:

6.56.6
×
$1
=
$0.98

$1 in 1955 has the same "purchasing power" or "buying power" as $0.98 in 1954.

To get the total inflation rate for the 1 years between 1954 and 1955, we use the following formula:

CPI in 1954 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

6.5 - 6.66.6
×
100
=
-2%

News headlines from 1954

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

  • The occupying powers grant full Sovereignty to West Germany.
  • The Mainau Declaration against nuclear weapons is signed by 18 Nobel laureates.
  • Rosa Parks is arrested in Montgomery, Alabama for refusing to give her seat to a white person and move to the back of the bus.

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 1955 → 1954 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Jun. 2020, https://www.officialdata.org/australia/inflation/1955?amount=1&endYear=1954.

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 1955 to 1954
Average inflation rate 1.54%
Converted amount ($1 base) $0.98
Price difference ($1 base) $-0.02
CPI in 1955 6.600
CPI in 1954 6.500
Inflation in 1954 1.56%
Inflation in 1955 1.54%