$1 in 1980 is equivalent in purchasing power to about $0.69 in 1976, an increase of $-0.31 over 4 years. The dollar had an average inflation rate of 9.90% per year between 1976 and 1980, producing a cumulative price increase of -31.44%.

This means that prices in 1976 are 31.44% lower than average prices since 1980, according to the Bureau of Statistics consumer price index.

The 1976 inflation rate was 13.13%. The inflation rate in 1980 was 10.46%. The 1980 inflation rate is higher compared to the average inflation rate of 3.72% per year between 1980 and 2021.

⌃

Cumulative price change | -31.44% |

Average inflation rate | 9.90% |

Converted amount ($1 base) | $0.69 |

Price difference ($1 base) | $-0.31 |

CPI in 1980 | 26.400 |

CPI in 1976 | 18.100 |

Inflation in 1976 | 13.13% |

Inflation in 1980 | 10.46% |

$1 in 1980 | $0.69 in 1976 |

This chart shows a calculation of buying power equivalence for $1 in 1976 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $0.69 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $0.69 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 1976 dollars, the chart below shows how $1 is worth less over 4 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 1976 amounts in 1980 dollars, based on the -31.44% change in prices:

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

$1 dollar in 1976 | $1.46 dollars in 1980 |

$5 dollars in 1976 | $7.29 dollars in 1980 |

$10 dollars in 1976 | $14.59 dollars in 1980 |

$50 dollars in 1976 | $72.93 dollars in 1980 |

$100 dollars in 1976 | $145.86 dollars in 1980 |

$500 dollars in 1976 | $729.28 dollars in 1980 |

$1,000 dollars in 1976 | $1,458.56 dollars in 1980 |

$5,000 dollars in 1976 | $7,292.82 dollars in 1980 |

$10,000 dollars in 1976 | $14,585.64 dollars in 1980 |

$50,000 dollars in 1976 | $72,928.18 dollars in 1980 |

$100,000 dollars in 1976 | $145,856.35 dollars in 1980 |

$500,000 dollars in 1976 | $729,281.77 dollars in 1980 |

$1,000,000 dollars in 1976 | $1,458,563.54 dollars in 1980 |

Our calculations use the following inflation rate formula to calculate the change in value between 1976 and 1980:

CPI in 1976
CPI in 1980

×

1980 AUD value

=

1976 AUD value

Then plug in historical CPI values. The Australian CPI was 26.4 in the year 1980 and 18.1 in 1976:

18.126.4

×

$1

=

$1 in 1980 has the same "purchasing power" or "buying power" as $0.69 in 1976.

To get the total inflation rate for the 4 years between 1976 and 1980, we use the following formula:

CPI in 1976 - CPI in 1980CPI in 1980

×

100

=

Plugging in the values to this equation, we get:

18.1 - 26.426.4

×

100

=

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

- Princess Victoria is crowned Princess of Sweden.
- Iranian protesters storm the Russian embassy in Iran.
- Abdou Diouf is elected president of Senegal after being Prime Minister for ten years.
- Cable News Network (CNN) is transmitted for the first time.
- Saddam Hussein, President of Iraq, declares a holy war on Iran.

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 1980 → 1976 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2021, https://www.officialdata.org/australia/inflation/1980?amount=1&endYear=1976.

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 | -31.44% |

Average inflation rate | 9.90% |

Converted amount ($1 base) | $0.69 |

Price difference ($1 base) | $-0.31 |

CPI in 1980 | 26.400 |

CPI in 1976 | 18.100 |

Inflation in 1976 | 13.13% |

Inflation in 1980 | 10.46% |

$1 in 1980 | $0.69 in 1976 |