$1 in 1970 is worth $0.97 in 1969

Value of $1 from 1970 to 1969

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.


Inflation from 1970 to 1969
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%

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

How to Calculate Inflation Rate for $1, 1969 to 1970

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
=
$0.97

$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
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

9.5 - 9.89.8
×
100
=
-3%

News headlines from 1969

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.

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 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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

Email · LinkedIn · Twitter


» Read more about inflation and investment.

Inflation from 1970 to 1969
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%