$1 in 1965 is equivalent in purchasing power to about $0.93 in 1962, an increase of $-0.07 over 3 years. The dollar had an average inflation rate of 2.50% per year between 1962 and 1965, producing a cumulative price increase of -7.14%.

This means that prices in 1962 are 7.14% lower than average prices since 1965, according to the Bureau of Statistics consumer price index.

The 1962 inflation rate was 0.00%. The inflation rate in 1965 was 3.70%. The 1965 inflation rate is lower compared to the average inflation rate of 4.83% per year between 1965 and 2021.

⌃

Cumulative price change | -7.14% |

Average inflation rate | 2.50% |

Converted amount ($1 base) | $0.93 |

Price difference ($1 base) | $-0.07 |

CPI in 1965 | 8.400 |

CPI in 1962 | 7.800 |

Inflation in 1962 | 0.00% |

Inflation in 1965 | 3.70% |

$1 in 1965 | $0.93 in 1962 |

This chart shows a calculation of buying power equivalence for $1 in 1962 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $0.93 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $0.93 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 1962 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:

This conversion table shows various other 1962 amounts in 1965 dollars, based on the -7.14% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1962 | $1.08 dollars in 1965 |

$5 dollars in 1962 | $5.38 dollars in 1965 |

$10 dollars in 1962 | $10.77 dollars in 1965 |

$50 dollars in 1962 | $53.85 dollars in 1965 |

$100 dollars in 1962 | $107.69 dollars in 1965 |

$500 dollars in 1962 | $538.46 dollars in 1965 |

$1,000 dollars in 1962 | $1,076.92 dollars in 1965 |

$5,000 dollars in 1962 | $5,384.62 dollars in 1965 |

$10,000 dollars in 1962 | $10,769.23 dollars in 1965 |

$50,000 dollars in 1962 | $53,846.15 dollars in 1965 |

$100,000 dollars in 1962 | $107,692.31 dollars in 1965 |

$500,000 dollars in 1962 | $538,461.54 dollars in 1965 |

$1,000,000 dollars in 1962 | $1,076,923.08 dollars in 1965 |

Our calculations use the following inflation rate formula to calculate the change in value between 1962 and 1965:

CPI in 1962
CPI in 1965

×

1965 AUD value

=

1962 AUD value

Then plug in historical CPI values. The Australian CPI was 8.4 in the year 1965 and 7.8 in 1962:

7.88.4

×

$1

=

$1 in 1965 has the same "purchasing power" or "buying power" as $0.93 in 1962.

To get the total inflation rate for the 3 years between 1962 and 1965, we use the following formula:

CPI in 1962 - CPI in 1965CPI in 1965

×

100

=

Plugging in the values to this equation, we get:

7.8 - 8.48.4

×

100

=

Politics and news often influence economic performance. Here's what was happening at the time:

- Aleksei Leonov, a Soviet cosmonaut, makes the first Spacewalk, when he leaves the Hos spacecraft for 12 minutes.
- Winston Churchill, is given the largest state funeral ever, it takes place in St Paul's Cathedral, London.
- The Supreme Court legalises the use of contraception by married couples.
- France becomes the third nation in space, after launching its first satellite.
- Lyndon B. Johnson, US President, signs the Voting Rights Act, making voting discrimination against minorities illegal.

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 1965 → 1962 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2021, https://www.officialdata.org/australia/inflation/1965?amount=1&endYear=1962.

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 | -7.14% |

Average inflation rate | 2.50% |

Converted amount ($1 base) | $0.93 |

Price difference ($1 base) | $-0.07 |

CPI in 1965 | 8.400 |

CPI in 1962 | 7.800 |

Inflation in 1962 | 0.00% |

Inflation in 1965 | 3.70% |

$1 in 1965 | $0.93 in 1962 |