$1 in 1980 is worth $2.55 in 1998

Value of $1 from 1980 to 1998

$1 in 1980 is equivalent in purchasing power to about $2.55 in 1998, an increase of $1.55 over 18 years. The dollar had an average inflation rate of 5.35% per year between 1980 and 1998, producing a cumulative price increase of 155.30%.

This means that prices in 1998 are 2.55 times as high as average prices since 1980, according to the Bureau of Statistics consumer price index.

The inflation rate in 1980 was 10.46%. The inflation rate in 1998 was 0.75%. The 1998 inflation rate is lower compared to the average inflation rate of 2.72% per year between 1998 and 2024.


Inflation from 1980 to 1998
Cumulative price change155.30%
Average inflation rate5.35%
Converted amount
$1 base
$2.55
Price difference
$1 base
$1.55
CPI in 198026.400
CPI in 199867.400
Inflation in 198010.46%
Inflation in 19980.75%
$1 in 1980$2.55 in 1998

AUD inflation since 1980
Annual Rate, the Bureau of Statistics CPI
Download

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 $2.55 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $2.55 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 18 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: 1980-1998
YearDollar ValueInflation Rate
1980$1.0010.46%
1981$1.099.47%
1982$1.2211.07%
1983$1.3410.28%
1984$1.393.95%
1985$1.486.52%
1986$1.629.18%
1987$1.768.41%
1988$1.897.33%
1989$2.037.43%
1990$2.187.48%
1991$2.253.13%
1992$2.271.01%
1993$2.311.67%
1994$2.351.97%
1995$2.464.67%
1996$2.532.62%
1997$2.530.30%
1998$2.550.75%
1999$2.591.48%
2000$2.714.53%
2001$2.834.34%
2002$2.913.08%
2003$2.992.73%
2004$3.062.28%
2005$3.142.72%
2006$3.253.49%
2007$3.332.33%
2008$3.484.44%
2009$3.541.74%
2010$3.642.89%
2011$3.763.33%
2012$3.831.71%
2013$3.922.48%
2014$4.022.51%
2015$4.081.51%
2016$4.131.30%
2017$4.211.92%
2018$4.291.89%
2019$4.361.59%
2020$4.400.87%
2021$4.522.84%
2022$4.826.62%
2023$5.075.18%
2024$5.131.05%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 12 more rows

This conversion table shows various other 1980 amounts in 1998 dollars, based on the 155.30% change in prices:

Conversion: 1980 dollars in 1998
Initial valueEquivalent value
$1 dollar in 1980$2.55 dollars in 1998
$5 dollars in 1980$12.77 dollars in 1998
$10 dollars in 1980$25.53 dollars in 1998
$50 dollars in 1980$127.65 dollars in 1998
$100 dollars in 1980$255.30 dollars in 1998
$500 dollars in 1980$1,276.52 dollars in 1998
$1,000 dollars in 1980$2,553.03 dollars in 1998
$5,000 dollars in 1980$12,765.15 dollars in 1998
$10,000 dollars in 1980$25,530.30 dollars in 1998
$50,000 dollars in 1980$127,651.52 dollars in 1998
$100,000 dollars in 1980$255,303.03 dollars in 1998
$500,000 dollars in 1980$1,276,515.15 dollars in 1998
$1,000,000 dollars in 1980$2,553,030.30 dollars in 1998

How to calculate inflation rate for $1, 1980 to 1998

Our calculations use the following inflation rate formula to calculate the change in value between 1980 and 1998:

CPI in 1998 CPI in 1980
×
1980 AUD value
=
1998 AUD value

Then plug in historical CPI values. The Australian CPI was 26.4 in the year 1980 and 67.4 in 1998:

67.426.4
×
$1
=
$2.55

$1 in 1980 has the same "purchasing power" or "buying power" as $2.55 in 1998.

To get the total inflation rate for the 18 years between 1980 and 1998, we use the following formula:

CPI in 1998 - CPI in 1980CPI in 1980
×
100
=
Cumulative inflation rate (18 years)

Plugging in the values to this equation, we get:

67.4 - 26.426.4
×
100
=
155%

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 → 1998 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/australia/inflation/1980?amount=1&endYear=1998.

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.


Ian Webster

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.

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Inflation from 1980 to 1998
Cumulative price change155.30%
Average inflation rate5.35%
Converted amount
$1 base
$2.55
Price difference
$1 base
$1.55
CPI in 198026.400
CPI in 199867.400
Inflation in 198010.46%
Inflation in 19980.75%
$1 in 1980$2.55 in 1998