$100 in 1968 is equivalent in purchasing power to about $1,281.52 today, an increase of $1,181.52 over 53 years. The dollar had an average inflation rate of 4.93% per year between 1968 and today, producing a cumulative price increase of 1,181.52%.

This means that today's prices are 12.82 times higher than average prices since 1968, according to the Bureau of Statistics consumer price index. A dollar today only buys 7.80% of what it could buy back then.

The 1968 inflation rate was 3.37%. The current year-over-year inflation rate (2020 to 2021) is now 1.55%^{1}.
If this number holds, $100 today will be equivalent in buying power to $101.55 next year.

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Cumulative price change | 1,181.52% |

Average inflation rate | 4.93% |

Converted amount ($100 base) | $1,281.52 |

Price difference ($100 base) | $1,181.52 |

CPI in 1968 | 9.200 |

CPI in 2021 | 117.900 |

Inflation in 1968 | 3.37% |

Inflation in 2021 | 1.55% |

$100 in 1968 | $1,281.52 in 2021 |

This chart shows a calculation of buying power equivalence for $100 in 1968 (price index tracking began in 1922).

For example, if you started with $100, you would need to end with $1,281.52 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $1,281.52 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 1968 dollars, the chart below shows how $100 is worth less over 53 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 1968 amounts in today's dollars, based on the 1,181.52% change in prices:

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

$1 dollar in 1968 | $12.82 dollars today |

$5 dollars in 1968 | $64.08 dollars today |

$10 dollars in 1968 | $128.15 dollars today |

$50 dollars in 1968 | $640.76 dollars today |

$100 dollars in 1968 | $1,281.52 dollars today |

$500 dollars in 1968 | $6,407.61 dollars today |

$1,000 dollars in 1968 | $12,815.22 dollars today |

$5,000 dollars in 1968 | $64,076.09 dollars today |

$10,000 dollars in 1968 | $128,152.17 dollars today |

$50,000 dollars in 1968 | $640,760.87 dollars today |

$100,000 dollars in 1968 | $1,281,521.74 dollars today |

$500,000 dollars in 1968 | $6,407,608.70 dollars today |

$1,000,000 dollars in 1968 | $12,815,217.39 dollars today |

Our calculations use the following inflation rate formula to calculate the change in value between 1968 and today:

CPI today
CPI in 1968

×

1968 AUD value

=

Today's value

Then plug in historical CPI values. The Australian CPI was 9.2 in the year 1968 and 117.9 in 2021:

117.99.2

×

$100

=

$100 in 1968 has the same "purchasing power" or "buying power" as $1,281.52 in 2021.

To get the total inflation rate for the 53 years between 1968 and 2021, we use the following formula:

CPI in 2021 - CPI in 1968CPI in 1968

×

100

=

Plugging in the values to this equation, we get:

117.9 - 9.29.2

×

100

=

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

- The Battle of Khe Sanh begins it is one of the most controversial battles of the Vietnam War.
- A photograph that later became an anti-war icon, is taken: it captures Saigon police chief Nguyễn Ngọc Loan executing Viet Cong officer Nguyễn Văn Lém with a pistol shot to the head.
- Martin Luther King Jr is assassinated in Memphis, Tennessee.
- France becomes the world's 5th thermonuclear power after the Mururoa Atoll detonation.

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: “Value of 1968 dollars today | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Sep. 2021, https://www.officialdata.org/australia/inflation/1968.

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 | 1,181.52% |

Average inflation rate | 4.93% |

Converted amount ($100 base) | $1,281.52 |

Price difference ($100 base) | $1,181.52 |

CPI in 1968 | 9.200 |

CPI in 2021 | 117.900 |

Inflation in 1968 | 3.37% |

Inflation in 2021 | 1.55% |

$100 in 1968 | $1,281.52 in 2021 |