# \$1 in 1965 → \$1.10 in 1968

## Australia Inflation Calculator

\$

### Australian Inflation Rate, \$1 from 1965 to 1968

According to the Bureau of Statistics consumer price index, prices in 1968 are 9.52% higher than average prices since 1965. The Australian dollar experienced an average inflation rate of 3.08% per year during this period, meaning the real value of a dollar decreased.

In other words, \$1 in 1965 is equivalent in purchasing power to about \$1.10 in 1968, a difference of \$0.10 over 3 years.

The 1965 inflation rate was 3.70%. The inflation rate in 1968 was 3.37%. The 1968 inflation rate is lower compared to the average inflation rate of 5.01% per year between 1968 and 2020.

 Cumulative price change 9.52% Average inflation rate 3.08% Converted amount (\$1 base) \$1.10 Price difference (\$1 base) \$0.10 CPI in 1965 8.400 CPI in 1968 9.200 Inflation in 1965 3.70% Inflation in 1968 3.37%

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

### Buying power of \$1 in 1965

This chart shows a calculation of buying power equivalence for \$1 in 1965 (price index tracking began in 1922).

For example, if you started with \$1, you would need to end with \$1.10 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.10 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 1965 dollars, the chart below shows how \$1 buys less over the past 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:

Year Dollar Value Inflation Rate
1965 \$1.00 3.70%
1966 \$1.02 2.38%
1967 \$1.06 3.49%
1968 \$1.10 3.37%
1969 \$1.13 3.26%
1970 \$1.17 3.16%
1971 \$1.24 6.12%
1972 \$1.31 5.77%
1973 \$1.43 9.09%
1974 \$1.65 15.83%
1975 \$1.90 15.11%
1976 \$2.15 13.13%
1977 \$2.42 12.15%
1978 \$2.61 7.88%
1979 \$2.85 9.13%
1980 \$3.14 10.46%
1981 \$3.44 9.47%
1982 \$3.82 11.07%
1983 \$4.21 10.28%
1984 \$4.38 3.95%
1985 \$4.67 6.52%
1986 \$5.10 9.18%
1987 \$5.52 8.41%
1988 \$5.93 7.33%
1989 \$6.37 7.43%
1990 \$6.85 7.48%
1991 \$7.06 3.13%
1992 \$7.13 1.01%
1993 \$7.25 1.67%
1994 \$7.39 1.97%
1995 \$7.74 4.67%
1996 \$7.94 2.62%
1997 \$7.96 0.30%
1998 \$8.02 0.75%
1999 \$8.14 1.48%
2000 \$8.51 4.53%
2001 \$8.88 4.34%
2002 \$9.15 3.08%
2003 \$9.40 2.73%
2004 \$9.62 2.28%
2005 \$9.88 2.72%
2006 \$10.23 3.49%
2007 \$10.46 2.33%
2008 \$10.93 4.44%
2009 \$11.12 1.74%
2010 \$11.44 2.89%
2011 \$11.82 3.33%
2012 \$12.02 1.71%
2013 \$12.32 2.48%
2014 \$12.63 2.51%
2015 \$12.82 1.51%
2016 \$12.99 1.30%
2017 \$13.24 1.92%
2018 \$13.40 1.26%
2019 \$13.66 1.90%
2020 \$13.92 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

### How to Calculate Inflation Rate for \$1, 1965 to 1968

This inflation calculator uses the following inflation rate formula:

CPI in 1968CPI in 1965
×
1965 AUD value
=
1968 AUD value

Then plug in historical CPI values. The Australian CPI was 8.4 in the year 1965 and 9.2 in 1968:

9.28.4
×
\$1
=
\$1.10

\$1 in 1965 has the same "purchasing power" or "buying power" as \$1.10 in 1968.

To get the total inflation rate for the 3 years between 1965 and 1968, we use the following formula:

CPI in 1968 - CPI in 1965CPI in 1965
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

9.2 - 8.48.4
×
100
=
10%

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.

### 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 1965 → 1968 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Feb. 2020, https://www.officialdata.org/australia/inflation/1965?amount=1&endYear=1968.