# \$1 in 1955 is worth \$1.12 in 1959

\$

## Value of \$1 from 1955 to 1959

According to the Bureau of Statistics consumer price index, prices in 1959 are 12.12% higher than average prices since 1955. The Australian dollar experienced an average inflation rate of 2.90% 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 \$1.12 in 1959, a difference of \$0.12 over 4 years.

The 1955 inflation rate was 1.54%. The inflation rate in 1959 was 2.78%. The 1959 inflation rate is lower compared to the average inflation rate of 4.63% per year between 1959 and 2020.

 Cumulative price change 12.12% Average inflation rate 2.90% Converted amount (\$1 base) \$1.12 Price difference (\$1 base) \$0.12 CPI in 1955 6.600 CPI in 1959 7.400 Inflation in 1955 1.54% Inflation in 1959 2.78%

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

## Buying power of \$1 in 1955

This chart shows a calculation of buying power equivalence for \$1 in 1955 (price index tracking began in 1922).

For example, if you started with \$1, you would need to end with \$1.12 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.12 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 1955 dollars, the chart below shows how \$1 is worth less over 4 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: 1955-1959
Year Dollar Value Inflation Rate
1955 \$1.00 1.54%
1956 \$1.06 6.06%
1957 \$1.09 2.86%
1958 \$1.09 0.00%
1959 \$1.12 2.78%
1960 \$1.17 4.05%
1961 \$1.18 1.30%
1962 \$1.18 0.00%
1963 \$1.20 1.28%
1964 \$1.23 2.53%
1965 \$1.27 3.70%
1966 \$1.30 2.38%
1967 \$1.35 3.49%
1968 \$1.39 3.37%
1969 \$1.44 3.26%
1970 \$1.48 3.16%
1971 \$1.58 6.12%
1972 \$1.67 5.77%
1973 \$1.82 9.09%
1974 \$2.11 15.83%
1975 \$2.42 15.11%
1976 \$2.74 13.13%
1977 \$3.08 12.15%
1978 \$3.32 7.88%
1979 \$3.62 9.13%
1980 \$4.00 10.46%
1981 \$4.38 9.47%
1982 \$4.86 11.07%
1983 \$5.36 10.28%
1984 \$5.58 3.95%
1985 \$5.94 6.52%
1986 \$6.48 9.18%
1987 \$7.03 8.41%
1988 \$7.55 7.33%
1989 \$8.11 7.43%
1990 \$8.71 7.48%
1991 \$8.98 3.13%
1992 \$9.08 1.01%
1993 \$9.23 1.67%
1994 \$9.41 1.97%
1995 \$9.85 4.67%
1996 \$10.11 2.62%
1997 \$10.14 0.30%
1998 \$10.21 0.75%
1999 \$10.36 1.48%
2000 \$10.83 4.53%
2001 \$11.30 4.34%
2002 \$11.65 3.08%
2003 \$11.97 2.73%
2004 \$12.24 2.28%
2005 \$12.58 2.72%
2006 \$13.02 3.49%
2007 \$13.32 2.33%
2008 \$13.91 4.44%
2009 \$14.15 1.74%
2010 \$14.56 2.89%
2011 \$15.05 3.33%
2012 \$15.30 1.71%
2013 \$15.68 2.48%
2014 \$16.08 2.51%
2015 \$16.32 1.51%
2016 \$16.53 1.30%
2017 \$16.85 1.92%
2018 \$17.06 1.26%
2019 \$17.38 1.90%
2020 \$17.72 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1955 amounts in 1959 dollars, based on the 12.12% change in prices:

Conversion Table: Value of a dollar in 1959
Initial value Equivalent value
\$1 dollar in 1955 \$1.12 dollars in 1959
\$5 dollars in 1955 \$5.61 dollars in 1959
\$10 dollars in 1955 \$11.21 dollars in 1959
\$50 dollars in 1955 \$56.06 dollars in 1959
\$100 dollars in 1955 \$112.12 dollars in 1959
\$500 dollars in 1955 \$560.61 dollars in 1959
\$1,000 dollars in 1955 \$1,121.21 dollars in 1959
\$5,000 dollars in 1955 \$5,606.06 dollars in 1959
\$10,000 dollars in 1955 \$11,212.12 dollars in 1959
\$50,000 dollars in 1955 \$56,060.61 dollars in 1959
\$100,000 dollars in 1955 \$112,121.21 dollars in 1959
\$500,000 dollars in 1955 \$560,606.06 dollars in 1959
\$1,000,000 dollars in 1955 \$1,121,212.12 dollars in 1959

## How to Calculate Inflation Rate for \$1, 1955 to 1959

Our calculations use the following inflation rate formula to calculate the change in value between 1955 and 1959:

CPI in 1959 CPI in 1955
×
1955 AUD value
=
1959 AUD value

Then plug in historical CPI values. The Australian CPI was 6.6 in the year 1955 and 7.4 in 1959:

7.46.6
×
\$1
=
\$1.12

\$1 in 1955 has the same "purchasing power" or "buying power" as \$1.12 in 1959.

To get the total inflation rate for the 4 years between 1955 and 1959, we use the following formula:

CPI in 1959 - CPI in 1955CPI in 1955
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

7.4 - 6.66.6
×
100
=
12%

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 → 1959 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 May. 2020, https://www.officialdata.org/australia/inflation/1955?amount=1&endYear=1959.