$1 in 1960 is worth $1.01 in 1961

Value of $1 from 1960 to 1961

$1 in 1960 is equivalent in purchasing power to about $1.01 in 1961. The dollar had an average inflation rate of 1.30% per year between 1960 and 1961, producing a cumulative price increase of 1.30%.

This means that prices in 1961 are 1.01 times as high as average prices since 1960, according to the Bureau of Statistics consumer price index.

The inflation rate in 1960 was 4.05%. The inflation rate in 1961 was 1.30%. The 1961 inflation rate is lower compared to the average inflation rate of 4.63% per year between 1961 and 2024.


Inflation from 1960 to 1961
Average inflation rate1.30%
Converted amount
$1 base
$1.01
Price difference
$1 base
$0.01
CPI in 19607.700
CPI in 19617.800
Inflation in 19604.05%
Inflation in 19611.30%
$1 in 1960$1.01 in 1961

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

How to calculate inflation rate for $1, 1960 to 1961

Our calculations use the following inflation rate formula to calculate the change in value between 1960 and 1961:

CPI in 1961 CPI in 1960
×
1960 AUD value
=
1961 AUD value

Then plug in historical CPI values. The Australian CPI was 7.7 in the year 1960 and 7.8 in 1961:

7.87.7
×
$1
=
$1.01

$1 in 1960 has the same "purchasing power" or "buying power" as $1.01 in 1961.

To get the total inflation rate for the 1 years between 1960 and 1961, we use the following formula:

CPI in 1961 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

7.8 - 7.77.7
×
100
=
1%

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 → 1961 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/australia/inflation/1960?amount=1&endYear=1961.

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 1961
Average inflation rate1.30%
Converted amount
$1 base
$1.01
Price difference
$1 base
$0.01
CPI in 19607.700
CPI in 19617.800
Inflation in 19604.05%
Inflation in 19611.30%
$1 in 1960$1.01 in 1961