Value of $1 from 1955 to 1956
$1 in 1955 is equivalent in purchasing power to about $1.06 in 1956. The dollar had an average inflation rate of 6.06% per year between 1955 and 1956, producing a cumulative price increase of 6.06%.
This means that prices in 1956 are 1.06 times as high as average prices in 1955, according to the Bureau of Statistics consumer price index.
The inflation rate in 1955 was 1.54%. The inflation rate in 1956 was 6.06%. The 1956 inflation rate is higher compared to the average inflation rate of 4.41% per year between 1956 and 2026.
⌃
| Average inflation rate | 6.06% |
|
Converted amount
$1 base | $1.06 |
|
Price difference
$1 base | $0.06 |
| CPI in 1955 | 6.600 |
| CPI in 1956 | 7.000 |
| Inflation in 1955 | 1.54% |
| Inflation in 1956 | 6.06% |
| $1 in 1955 | $1.06 in 1956 |
How to calculate inflation rate for $1, 1955 to 1956
Our calculations use the following inflation rate formula to calculate the change in value between 1955 and 1956:
CPI in 1956CPI in 1955
×
1955 AUD value
=
1956 AUD value
Then plug in historical CPI values. The Australian CPI was 6.6 in the year 1955 and 7 in 1956:
76.6
×
$1
=
$1.06
$1 in 1955 has the same "purchasing power" or "buying power" as $1.06 in 1956.
To get the total inflation rate for the 1 years between 1955 and 1956, we use the following formula:
CPI in 1956 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
7 - 6.66.6
×
100
=
6%
Frequently asked questions
How much is $1 from 1955 worth in 1956?
$1 in 1955 has about the same buying power as $1.06 in 1956, based on the consumer price index published by the Bureau of Statistics. Prices in 1956 are 1.06 times as high as they were in 1955.
What was the inflation rate in 1955?
The Australian inflation rate in 1955 was 1.54%, measured as the change in the consumer price index from 1954 to 1955. See inflation in 1955 for more detail.
What has the average inflation rate been from 1955 to 1956?
Prices rose by an average of 6.06% per year between 1955 and 1956, a cumulative increase of 6.06%.
How is this calculated?
Divide the CPI in 1956 (7) by the CPI in 1955 (6.6), then multiply by the original amount: 7 ÷ 6.6 × $1 = $1.06. See the step-by-step formula above.
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 → $1.06 in 1956 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Oct. 2026, https://www.officialdata.org/australia/inflation/1955?amount=1&endYear=1956.
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.
| Average inflation rate | 6.06% |
|
Converted amount
$1 base | $1.06 |
|
Price difference
$1 base | $0.06 |
| CPI in 1955 | 6.600 |
| CPI in 1956 | 7.000 |
| Inflation in 1955 | 1.54% |
| Inflation in 1956 | 6.06% |
| $1 in 1955 | $1.06 in 1956 |