Value of $1 from 1970 to 1971
$1 in 1970 is equivalent in purchasing power to about $1.06 in 1971. The dollar had an average inflation rate of 6.12% per year between 1970 and 1971, producing a cumulative price increase of 6.12%.
This means that prices in 1971 are 1.06 times as high as average prices in 1970, according to the Bureau of Statistics consumer price index.
The inflation rate in 1970 was 3.16%. The inflation rate in 1971 was 6.12%. The 1971 inflation rate is higher compared to the average inflation rate of 4.89% per year between 1971 and 2026.
⌃
| Average inflation rate | 6.12% |
|
Converted amount
$1 base | $1.06 |
|
Price difference
$1 base | $0.06 |
| CPI in 1970 | 9.800 |
| CPI in 1971 | 10.400 |
| Inflation in 1970 | 3.16% |
| Inflation in 1971 | 6.12% |
| $1 in 1970 | $1.06 in 1971 |
How to calculate inflation rate for $1, 1970 to 1971
Our calculations use the following inflation rate formula to calculate the change in value between 1970 and 1971:
CPI in 1971CPI in 1970
×
1970 AUD value
=
1971 AUD value
Then plug in historical CPI values. The Australian CPI was 9.8 in the year 1970 and 10.4 in 1971:
10.49.8
×
$1
=
$1.06
$1 in 1970 has the same "purchasing power" or "buying power" as $1.06 in 1971.
To get the total inflation rate for the 1 years between 1970 and 1971, we use the following formula:
CPI in 1971 - CPI in 1970CPI in 1970
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
10.4 - 9.89.8
×
100
=
6%
Frequently asked questions
How much is $1 from 1970 worth in 1971?
$1 in 1970 has about the same buying power as $1.06 in 1971, based on the consumer price index published by the Bureau of Statistics. Prices in 1971 are 1.06 times as high as they were in 1970.
What was the inflation rate in 1970?
The Australian inflation rate in 1970 was 3.16%, measured as the change in the consumer price index from 1969 to 1970. See inflation in 1970 for more detail.
What has the average inflation rate been from 1970 to 1971?
Prices rose by an average of 6.12% per year between 1970 and 1971, a cumulative increase of 6.12%.
How is this calculated?
Divide the CPI in 1971 (10.4) by the CPI in 1970 (9.8), then multiply by the original amount: 10.4 ÷ 9.8 × $1 = $1.06. See the step-by-step formula above.
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 → $1.06 in 1971 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 10 Oct. 2026, https://www.officialdata.org/australia/inflation/1970?amount=1&endYear=1971.
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 | 6.12% |
|
Converted amount
$1 base | $1.06 |
|
Price difference
$1 base | $0.06 |
| CPI in 1970 | 9.800 |
| CPI in 1971 | 10.400 |
| Inflation in 1970 | 3.16% |
| Inflation in 1971 | 6.12% |
| $1 in 1970 | $1.06 in 1971 |