# \$1 in 1980 is worth \$1.34 in 1983

\$

## Value of \$1 from 1980 to 1983

\$1 in 1980 is equivalent in purchasing power to about \$1.34 in 1983, an increase of \$0.34 over 3 years. The dollar had an average inflation rate of 10.27% per year between 1980 and 1983, producing a cumulative price increase of 34.09%.

This means that prices in 1983 are 1.34 times higher than average prices since 1980, according to the Bureau of Statistics consumer price index.

The 1980 inflation rate was 10.46%. The inflation rate in 1983 was 10.28%. The 1983 inflation rate is higher compared to the average inflation rate of 3.28% per year between 1983 and 2020.

 Cumulative price change 34.09% Average inflation rate 10.27% Converted amount (\$1 base) \$1.34 Price difference (\$1 base) \$0.34 CPI in 1980 26.400 CPI in 1983 35.400 Inflation in 1980 10.46% Inflation in 1983 10.28% \$1 in 1980 \$1.34 in 1983

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

## Buying power of \$1 in 1980

This chart shows a calculation of buying power equivalence for \$1 in 1980 (price index tracking began in 1922).

For example, if you started with \$1, you would need to end with \$1.34 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.34 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 1980 dollars, the chart below shows how \$1 is worth less over 3 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:

Dollar inflation: 1980-1983
Year Dollar Value Inflation Rate
1980 \$1.00 10.46%
1981 \$1.09 9.47%
1982 \$1.22 11.07%
1983 \$1.34 10.28%
1984 \$1.39 3.95%
1985 \$1.48 6.52%
1986 \$1.62 9.18%
1987 \$1.76 8.41%
1988 \$1.89 7.33%
1989 \$2.03 7.43%
1990 \$2.18 7.48%
1991 \$2.25 3.13%
1992 \$2.27 1.01%
1993 \$2.31 1.67%
1994 \$2.35 1.97%
1995 \$2.46 4.67%
1996 \$2.53 2.62%
1997 \$2.53 0.30%
1998 \$2.55 0.75%
1999 \$2.59 1.48%
2000 \$2.71 4.53%
2001 \$2.83 4.34%
2002 \$2.91 3.08%
2003 \$2.99 2.73%
2004 \$3.06 2.28%
2005 \$3.14 2.72%
2006 \$3.25 3.49%
2007 \$3.33 2.33%
2008 \$3.48 4.44%
2009 \$3.54 1.74%
2010 \$3.64 2.89%
2011 \$3.76 3.33%
2012 \$3.83 1.71%
2013 \$3.92 2.48%
2014 \$4.02 2.51%
2015 \$4.08 1.51%
2016 \$4.13 1.30%
2017 \$4.21 1.92%
2018 \$4.27 1.26%
2019 \$4.35 1.90%
2020 \$4.43 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1980 amounts in 1983 dollars, based on the 34.09% change in prices:

Conversion: 1980 dollars in 1983
Initial value Equivalent value
\$1 dollar in 1980 \$1.34 dollars in 1983
\$5 dollars in 1980 \$6.70 dollars in 1983
\$10 dollars in 1980 \$13.41 dollars in 1983
\$50 dollars in 1980 \$67.05 dollars in 1983
\$100 dollars in 1980 \$134.09 dollars in 1983
\$500 dollars in 1980 \$670.45 dollars in 1983
\$1,000 dollars in 1980 \$1,340.91 dollars in 1983
\$5,000 dollars in 1980 \$6,704.55 dollars in 1983
\$10,000 dollars in 1980 \$13,409.09 dollars in 1983
\$50,000 dollars in 1980 \$67,045.45 dollars in 1983
\$100,000 dollars in 1980 \$134,090.91 dollars in 1983
\$500,000 dollars in 1980 \$670,454.55 dollars in 1983
\$1,000,000 dollars in 1980 \$1,340,909.09 dollars in 1983

## How to Calculate Inflation Rate for \$1, 1980 to 1983

Our calculations use the following inflation rate formula to calculate the change in value between 1980 and 1983:

CPI in 1983 CPI in 1980
×
1980 AUD value
=
1983 AUD value

Then plug in historical CPI values. The Australian CPI was 26.4 in the year 1980 and 35.4 in 1983:

35.426.4
×
\$1
=
\$1.34

\$1 in 1980 has the same "purchasing power" or "buying power" as \$1.34 in 1983.

To get the total inflation rate for the 3 years between 1980 and 1983, we use the following formula:

CPI in 1983 - CPI in 1980CPI in 1980
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

35.4 - 26.426.4
×
100
=
34%

## News headlines from 1980

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 → 1983 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Jan. 2021, https://www.officialdata.org/australia/inflation/1980?amount=1&endYear=1983.

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.

#### About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Cumulative price change 34.09% Average inflation rate 10.27% Converted amount (\$1 base) \$1.34 Price difference (\$1 base) \$0.34 CPI in 1980 26.400 CPI in 1983 35.400 Inflation in 1980 10.46% Inflation in 1983 10.28% \$1 in 1980 \$1.34 in 1983