According to the Bureau of Statistics consumer price index, prices in 1969 are 3.06% lower than average prices since 1970. The Australian dollar experienced an average inflation rate of 3.16% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1970 is equivalent in purchasing power to about $0.97 in 1969.

The 1969 inflation rate was 3.26%. The inflation rate in 1970 was 3.16%. The 1970 inflation rate is lower compared to the average inflation rate of 5.08% per year between 1970 and 2020.

⌃

Average inflation rate | 3.16% |

Converted amount ($1 base) | $0.97 |

Price difference ($1 base) | $-0.03 |

CPI in 1970 | 9.800 |

CPI in 1969 | 9.500 |

Inflation in 1969 | 3.26% |

Inflation in 1970 | 3.16% |

Our calculations use the following inflation rate formula to calculate the change in value between 1969 and 1970:

CPI in 1969
CPI in 1970

×

1970 AUD value

=

1969 AUD value

Then plug in historical CPI values. The Australian CPI was 9.8 in the year 1970 and 9.5 in 1969:

9.59.8

×

$1

=

$1 in 1970 has the same "purchasing power" or "buying power" as $0.97 in 1969.

To get the total inflation rate for the 1 years between 1969 and 1970, we use the following formula:

CPI in 1969 - CPI in 1970CPI in 1970

×

100

=

Plugging in the values to this equation, we get:

9.5 - 9.89.8

×

100

=

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

- January 1st, 1970 established as Epoch time for UNIX systems.
- Rhodesia declares independence and sets up a republican government.
- Aswan Dam opens in Egypt to prevent flooding of the Nile River.
- A Palestinian terrorist organization hijacks three aircrafts in an incident that is later known as Black September.

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 1970 → 1969 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Oct. 2020, https://www.officialdata.org/australia/inflation/1970?amount=1&endYear=1969.

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.

Average inflation rate | 3.16% |

Converted amount ($1 base) | $0.97 |

Price difference ($1 base) | $-0.03 |

CPI in 1970 | 9.800 |

CPI in 1969 | 9.500 |

Inflation in 1969 | 3.26% |

Inflation in 1970 | 3.16% |