$1 in 1960 is worth $0.94 in 1957

Value of $1 from 1960 to 1957

$1 in 1960 is equivalent in purchasing power to about $0.94 in 1957, an increase of $-0.06 over 3 years. The dollar had an average inflation rate of 2.26% per year between 1957 and 1960, producing a cumulative price increase of -6.49%.

This means that prices in 1957 are 6.49% lower than average prices since 1960, according to the Bureau of Statistics consumer price index.

The inflation rate in 1957 was 2.86%. The inflation rate in 1960 was 4.05%. The 1960 inflation rate is lower compared to the average inflation rate of 4.64% per year between 1960 and 2022.


Inflation from 1960 to 1957
Cumulative price change-6.49%
Average inflation rate2.26%
Converted amount ($1 base)$0.94
Price difference ($1 base)$-0.06
CPI in 19607.700
CPI in 19577.200
Inflation in 19572.86%
Inflation in 19604.05%
$1 in 1960$0.94 in 1957

Recent AUD inflation
Annual Rate, the Bureau of Statistics CPI
Download

Buying power of $1 in 1957

This chart shows a calculation of buying power equivalence for $1 in 1957 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $0.94 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $0.94 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 1957 dollars, the chart below shows how $1 is worth less over 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:

Dollar inflation: 1957-1960
YearDollar ValueInflation Rate
1957$1.002.86%
1958$1.000.00%
1959$1.032.78%
1960$1.074.05%
1961$1.081.30%
1962$1.080.00%
1963$1.101.28%
1964$1.132.53%
1965$1.173.70%
1966$1.192.38%
1967$1.243.49%
1968$1.283.37%
1969$1.323.26%
1970$1.363.16%
1971$1.446.12%
1972$1.535.77%
1973$1.679.09%
1974$1.9315.83%
1975$2.2215.11%
1976$2.5113.13%
1977$2.8212.15%
1978$3.047.88%
1979$3.329.13%
1980$3.6710.46%
1981$4.019.47%
1982$4.4611.07%
1983$4.9210.28%
1984$5.113.95%
1985$5.446.52%
1986$5.949.18%
1987$6.448.41%
1988$6.927.33%
1989$7.437.43%
1990$7.997.48%
1991$8.243.13%
1992$8.321.01%
1993$8.461.67%
1994$8.631.97%
1995$9.034.67%
1996$9.262.62%
1997$9.290.30%
1998$9.360.75%
1999$9.501.48%
2000$9.934.53%
2001$10.364.34%
2002$10.683.08%
2003$10.972.73%
2004$11.222.28%
2005$11.532.72%
2006$11.933.49%
2007$12.212.33%
2008$12.754.44%
2009$12.971.74%
2010$13.352.89%
2011$13.793.33%
2012$14.031.71%
2013$14.382.48%
2014$14.742.51%
2015$14.961.51%
2016$15.151.30%
2017$15.441.92%
2018$15.741.89%
2019$15.991.59%
2020$16.130.87%
2021$16.582.84%
2022$17.797.30%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1957 amounts in 1960 dollars, based on the -6.49% change in prices:

Conversion: 1957 dollars in 1960
Initial valueEquivalent value
$1 dollar in 1957$1.07 dollars in 1960
$5 dollars in 1957$5.35 dollars in 1960
$10 dollars in 1957$10.69 dollars in 1960
$50 dollars in 1957$53.47 dollars in 1960
$100 dollars in 1957$106.94 dollars in 1960
$500 dollars in 1957$534.72 dollars in 1960
$1,000 dollars in 1957$1,069.44 dollars in 1960
$5,000 dollars in 1957$5,347.22 dollars in 1960
$10,000 dollars in 1957$10,694.44 dollars in 1960
$50,000 dollars in 1957$53,472.22 dollars in 1960
$100,000 dollars in 1957$106,944.44 dollars in 1960
$500,000 dollars in 1957$534,722.22 dollars in 1960
$1,000,000 dollars in 1957$1,069,444.44 dollars in 1960

How to calculate inflation rate for $1, 1957 to 1960

Our calculations use the following inflation rate formula to calculate the change in value between 1957 and 1960:

CPI in 1957 CPI in 1960
×
1960 AUD value
=
1957 AUD value

Then plug in historical CPI values. The Australian CPI was 7.7 in the year 1960 and 7.2 in 1957:

7.27.7
×
$1
=
$0.94

$1 in 1960 has the same "purchasing power" or "buying power" as $0.94 in 1957.

To get the total inflation rate for the 3 years between 1957 and 1960, we use the following formula:

CPI in 1957 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

7.2 - 7.77.7
×
100
=
-6%

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 1960 → 1957 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Dec. 2022, https://www.officialdata.org/australia/inflation/1960?amount=1&endYear=1957.

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.


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 1960 to 1957
Cumulative price change-6.49%
Average inflation rate2.26%
Converted amount ($1 base)$0.94
Price difference ($1 base)$-0.06
CPI in 19607.700
CPI in 19577.200
Inflation in 19572.86%
Inflation in 19604.05%
$1 in 1960$0.94 in 1957