\$1 in 1975 is worth \$0.87 in 1974

\$

Value of \$1 from 1975 to 1974

\$1 in 1975 is equivalent in purchasing power to about \$0.87 in 1974. The dollar had an average inflation rate of 15.11% per year between 1974 and 1975, producing a cumulative price increase of -13.12%.

This means that prices in 1974 are 13.12% lower than average prices since 1975, according to the Bureau of Statistics consumer price index.

The 1974 inflation rate was 15.83%. The inflation rate in 1975 was 15.11%. The 1975 inflation rate is higher compared to the average inflation rate of 4.52% per year between 1975 and 2020.

 Average inflation rate 15.11% Converted amount (\$1 base) \$0.87 Price difference (\$1 base) \$-0.13 CPI in 1975 16.000 CPI in 1974 13.900 Inflation in 1974 15.83% Inflation in 1975 15.11% \$1 in 1975 \$0.87 in 1974

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

How to Calculate Inflation Rate for \$1, 1974 to 1975

Our calculations use the following inflation rate formula to calculate the change in value between 1974 and 1975:

CPI in 1974 CPI in 1975
×
1975 AUD value
=
1974 AUD value

Then plug in historical CPI values. The Australian CPI was 16 in the year 1975 and 13.9 in 1974:

13.916
×
\$1
=
\$0.87

\$1 in 1975 has the same "purchasing power" or "buying power" as \$0.87 in 1974.

To get the total inflation rate for the 1 years between 1974 and 1975, we use the following formula:

CPI in 1974 - CPI in 1975CPI in 1975
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

13.9 - 1616
×
100
=
-13%

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

• Margaret Thatcher becomes leader of the British Conservative Party, after defeating Edward Heath.
• Ethiopia abrogates its 3,000-year-old monarchy.
• Bill Gates and Paul Allen found Microsoft.
• The US signals the beginning of the end of its involvement Vietnam, after it begins to evacuate its citizens from Saigon.
• Gough Whitlam is removed by Governor General Sir John Kerr: the first time an elected Prime Minister had been deposed in 200 years (Australia).

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 1975 → 1974 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Apr. 2021, https://www.officialdata.org/australia/inflation/1975?amount=1&endYear=1974.

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.