Value of $2 from 1960 to 2026
$2 in 1960 is equivalent in purchasing power to about $37.30 today, an increase of $35.30 over 66 years. The dollar had an average inflation rate of 4.53% per year between 1960 and today, producing a cumulative price increase of 1,764.94%.
This means that today's prices are 18.65 times as high as average prices in 1960, according to the Bureau of Statistics consumer price index. A dollar today only buys 5.4% of what it could buy back then.
The inflation rate in 1960 was 4.05%. The current inflation rate compared to the end of last year is now 1.13%. If this number holds, $2 today will be equivalent in buying power to $2.02 next year.
⌃
| Cumulative price change | 1,764.94% |
| Average inflation rate | 4.53% |
|
Converted amount
$2 base | $37.30 |
|
Price difference
$2 base | $35.30 |
| CPI in 1960 | 7.700 |
| CPI in 2026 | 143.600 |
| Inflation in 1960 | 4.05% |
| Inflation in 2026 | 1.13% |
| $2 in 1960 | $37.30 in 2026 |
Buying power of $2 in 1960
This chart shows a calculation of buying power equivalence for $2 in 1960 (price index tracking began in 1922).
For example, if you started with $2, you would need to end with $37.30 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $2 is equivalent to $37.30 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 1960 dollars, the chart below shows how $2 is worth less over 66 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:
This conversion table shows various other 1960 amounts in today's dollars, based on the 1,764.94% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1960 | $18.65 dollars today |
| $5 dollars in 1960 | $93.25 dollars today |
| $10 dollars in 1960 | $186.49 dollars today |
| $50 dollars in 1960 | $932.47 dollars today |
| $100 dollars in 1960 | $1,864.94 dollars today |
| $500 dollars in 1960 | $9,324.68 dollars today |
| $1,000 dollars in 1960 | $18,649.35 dollars today |
| $5,000 dollars in 1960 | $93,246.75 dollars today |
| $10,000 dollars in 1960 | $186,493.51 dollars today |
| $50,000 dollars in 1960 | $932,467.53 dollars today |
| $100,000 dollars in 1960 | $1,864,935.06 dollars today |
| $500,000 dollars in 1960 | $9,324,675.32 dollars today |
| $1,000,000 dollars in 1960 | $18,649,350.65 dollars today |
How to calculate inflation rate for $2 since 1960
Our calculations use the following inflation rate formula to calculate the change in value between 1960 and today:
CPI todayCPI in 1960
×
1960 AUD value
=
Today's value
Then plug in historical CPI values. The Australian CPI was 7.7 in the year 1960 and 143.6 in 2026:
143.67.7
×
$2
=
$37.30
$2 in 1960 has the same "purchasing power" or "buying power" as $37.30 in 2026.
To get the total inflation rate for the 66 years between 1960 and 2026, we use the following formula:
CPI in 2026 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (66 years)
Plugging in the values to this equation, we get:
143.6 - 7.77.7
×
100
=
1,765%
Frequently asked questions
How much is $2 from 1960 worth today?
$2 in 1960 has about the same buying power as $37.30 today, based on the consumer price index published by the Bureau of Statistics. Prices today are 18.65 times as high as they were in 1960.
What was the inflation rate in 1960?
The Australian inflation rate in 1960 was 4.05%, measured as the change in the consumer price index from 1959 to 1960. See inflation in 1960 for more detail.
What has the average inflation rate been since 1960?
Prices rose by an average of 4.53% per year between 1960 and today, a cumulative increase of 1,764.94%. Because inflation compounds, these yearly changes add up over 66 years.
How much value has the dollar lost since 1960?
A dollar today buys about 5.4% of what it could in 1960. In other words, it has lost about 94.6% of its purchasing power.
How is this calculated?
Divide the CPI in 2026 (143.6) by the CPI in 1960 (7.7), then multiply by the original amount: 143.6 ÷ 7.7 × $2 = $37.30. 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: “$2 in 1960 → 2026 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 7 Oct. 2026, https://www.officialdata.org/australia/inflation/1960?amount=2&endYear=2026.
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.
| Cumulative price change | 1,764.94% |
| Average inflation rate | 4.53% |
|
Converted amount
$2 base | $37.30 |
|
Price difference
$2 base | $35.30 |
| CPI in 1960 | 7.700 |
| CPI in 2026 | 143.600 |
| Inflation in 1960 | 4.05% |
| Inflation in 2026 | 1.13% |
| $2 in 1960 | $37.30 in 2026 |