# \$1 in 1980 is worth \$0.91 in 1979

\$

## Value of \$1 from 1980 to 1979

\$1 in 1980 is equivalent in purchasing power to about \$0.91 in 1979. The dollar had an average inflation rate of 10.46% per year between 1979 and 1980, producing a cumulative price increase of -9.47%.

This means that prices in 1979 are 9.47% lower than average prices since 1980, according to the Bureau of Statistics consumer price index.

The 1979 inflation rate was 9.13%. 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.

 Average inflation rate 10.46% Converted amount (\$1 base) \$0.91 Price difference (\$1 base) \$-0.09 CPI in 1980 26.400 CPI in 1979 23.900 Inflation in 1979 9.13% Inflation in 1980 10.46% \$1 in 1980 \$0.91 in 1979

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

## How to Calculate Inflation Rate for \$1, 1979 to 1980

Our calculations use the following inflation rate formula to calculate the change in value between 1979 and 1980:

CPI in 1979 CPI in 1980
×
1980 AUD value
=
1979 AUD value

Then plug in historical CPI values. The Australian CPI was 26.4 in the year 1980 and 23.9 in 1979:

23.926.4
×
\$1
=
\$0.91

\$1 in 1980 has the same "purchasing power" or "buying power" as \$0.91 in 1979.

To get the total inflation rate for the 1 years between 1979 and 1980, we use the following formula:

CPI in 1979 - CPI in 1980CPI in 1980
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

23.9 - 26.426.4
×
100
=
-9%

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.

## 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 1980 → 1979 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 Sep. 2021, https://www.officialdata.org/australia/inflation/1980?amount=1&endYear=1979.

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.