# \$100 in 1971 → \$1,124.23 in 2020

## Australia Inflation Calculator

\$

### Australian Inflation Rate, \$100 from 1971 to 2020

According to the Bureau of Statistics consumer price index, today's prices in 2020 are 1,024.23% higher than average prices since 1971. The Australian dollar experienced an average inflation rate of 5.06% per year during this period, meaning the real value of a dollar decreased.

In other words, \$100 in 1971 is equivalent in purchasing power to about \$1,124.23 in 2020, a difference of \$1,024.23 over 49 years.

The 1971 inflation rate was 6.12%. The current inflation rate (2019 to 2020) is now 1.90%1. If this number holds, \$100 today will be equivalent in buying power to \$101.90 next year.

 Cumulative price change 1,024.23% Average inflation rate 5.06% Converted amount (\$100 base) \$1,124.23 Price difference (\$100 base) \$1,024.23 CPI in 1971 10.400 CPI in 2020 116.919 Inflation in 1971 6.12% Inflation in 2020 1.90%

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

### Buying power of \$100 in 1971

This chart shows a calculation of buying power equivalence for \$100 in 1971 (price index tracking began in 1922).

For example, if you started with \$100, you would need to end with \$1,124.23 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$100 is equivalent to \$1,124.23 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 1971 dollars, the chart below shows how \$100 buys less over the past 49 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
1971 \$100.00 6.12%
1972 \$105.77 5.77%
1973 \$115.38 9.09%
1974 \$133.65 15.83%
1975 \$153.85 15.11%
1976 \$174.04 13.13%
1977 \$195.19 12.15%
1978 \$210.58 7.88%
1979 \$229.81 9.13%
1980 \$253.85 10.46%
1981 \$277.88 9.47%
1982 \$308.65 11.07%
1983 \$340.38 10.28%
1984 \$353.85 3.95%
1985 \$376.92 6.52%
1986 \$411.54 9.18%
1987 \$446.15 8.41%
1988 \$478.85 7.33%
1989 \$514.42 7.43%
1990 \$552.88 7.48%
1991 \$570.19 3.13%
1992 \$575.96 1.01%
1993 \$585.58 1.67%
1994 \$597.12 1.97%
1995 \$625.00 4.67%
1996 \$641.35 2.62%
1997 \$643.27 0.30%
1998 \$648.08 0.75%
1999 \$657.69 1.48%
2000 \$687.50 4.53%
2001 \$717.31 4.34%
2002 \$739.42 3.08%
2003 \$759.62 2.73%
2004 \$776.92 2.28%
2005 \$798.08 2.72%
2006 \$825.96 3.49%
2007 \$845.19 2.33%
2008 \$882.69 4.44%
2009 \$898.08 1.74%
2010 \$924.04 2.89%
2011 \$954.81 3.33%
2012 \$971.15 1.71%
2013 \$995.19 2.48%
2014 \$1,020.19 2.51%
2015 \$1,035.58 1.51%
2016 \$1,049.04 1.30%
2017 \$1,069.23 1.92%
2018 \$1,082.69 1.26%
2019 \$1,103.26 1.90%
2020 \$1,124.23 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 43 more rows

### How to Calculate Inflation Rate for \$100 since 1971

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1971
×
1971 AUD value
=
2020 AUD value

Then plug in historical CPI values. The Australian CPI was 10.4 in the year 1971 and 116.91944859999998 in 2020:

116.9194485999999810.4
×
\$100
=
\$1,124.23

\$100 in 1971 has the same "purchasing power" or "buying power" as \$1,124.23 in 2020.

To get the total inflation rate for the 49 years between 1971 and 2020, we use the following formula:

CPI in 2020 - CPI in 1971CPI in 1971
×
100
=
Cumulative inflation rate (49 years)

Plugging in the values to this equation, we get:

116.91944859999998 - 10.410.4
×
100
=
1,024%

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

• Idi Amin declares himself president of Uganda.
• The Nasdaq Composite stock market index debuts with fifty companies and a starting value of 100.
• Indian troops, aided by Bengali guerrillas under Mukti Bahini, are victorious over the Pakistan army, in the battle of Garibpur.

### 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: “1971 dollars in 2020 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Feb. 2020, https://www.officialdata.org/australia/inflation/1971?amount=&startYear=&future_pct=.