$481 in 1975 is equivalent in purchasing power to about $3,598.48 today, an increase of $3,117.48 over 47 years. The dollar had an average inflation rate of 4.37% per year between 1975 and today, producing a cumulative price increase of 648.13%.

This means that today's prices are 7.48 times higher than average prices since 1975, according to the Bureau of Statistics consumer price index. A dollar today only buys 13.37% of what it could buy back then.

The inflation rate in 1975 was 15.11%. The current year-over-year inflation rate (2021 to 2022) is now 0.76%. If this number holds, $481 today will be equivalent in buying power to $484.64 next year.

⌃

Cumulative price change | 648.13% |

Average inflation rate | 4.37% |

Converted amount ($481 base) | $3,598.48 |

Price difference ($481 base) | $3,117.48 |

CPI in 1975 | 16.000 |

CPI in 2022 | 119.700 |

Inflation in 1975 | 15.11% |

Inflation in 2022 | 0.76% |

$481 in 1975 | $3,598.48 in 2022 |

This chart shows a calculation of buying power equivalence for $481 in 1975 (price index tracking began in 1922).

For example, if you started with $481, you would need to end with $3,598.48 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $481 is equivalent to $3,598.48 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 1975 dollars, the chart below shows how $481 is worth less over 47 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:

This conversion table shows various other 1975 amounts in today's dollars, based on the 648.13% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1975 | $7.48 dollars today |

$5 dollars in 1975 | $37.41 dollars today |

$10 dollars in 1975 | $74.81 dollars today |

$50 dollars in 1975 | $374.06 dollars today |

$100 dollars in 1975 | $748.13 dollars today |

$500 dollars in 1975 | $3,740.63 dollars today |

$1,000 dollars in 1975 | $7,481.25 dollars today |

$5,000 dollars in 1975 | $37,406.25 dollars today |

$10,000 dollars in 1975 | $74,812.50 dollars today |

$50,000 dollars in 1975 | $374,062.50 dollars today |

$100,000 dollars in 1975 | $748,125.00 dollars today |

$500,000 dollars in 1975 | $3,740,625.00 dollars today |

$1,000,000 dollars in 1975 | $7,481,250.00 dollars today |

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

CPI today
CPI in 1975

×

1975 AUD value

=

Today's value

Then plug in historical CPI values. The Australian CPI was 16 in the year 1975 and 119.7 in 2022:

119.716

×

$481

=

$481 in 1975 has the same "purchasing power" or "buying power" as $3,598.48 in 2022.

To get the total inflation rate for the 47 years between 1975 and 2022, we use the following formula:

CPI in 2022 - CPI in 1975CPI in 1975

×

100

=

Plugging in the values to this equation, we get:

119.7 - 1616

×

100

=

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).

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: “$481 in 1975 → 2022 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Jan. 2022, https://www.officialdata.org/australia/inflation/1975?amount=481.

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.

Cumulative price change | 648.13% |

Average inflation rate | 4.37% |

Converted amount ($481 base) | $3,598.48 |

Price difference ($481 base) | $3,117.48 |

CPI in 1975 | 16.000 |

CPI in 2022 | 119.700 |

Inflation in 1975 | 15.11% |

Inflation in 2022 | 0.76% |

$481 in 1975 | $3,598.48 in 2022 |