# \$1 in 1990 is worth \$2.03 today

\$

## Value of \$1 from 1990 to 2020

According to the Bureau of Statistics consumer price index, today's prices in 2020 are 103.34% higher than average prices since 1990. The Australian dollar experienced an average inflation rate of 2.39% per year during this period, causing the real value of a dollar to decrease.

In other words, \$1 in 1990 is equivalent in purchasing power to about \$2.03 in 2020, a difference of \$1.03 over 30 years.

The 1990 inflation rate was 7.48%. The current year-over-year inflation rate (2019 to 2020) is now 1.90%1. If this number holds, \$1 today will be equivalent in buying power to \$1.02 next year.

 Cumulative price change 103.34% Average inflation rate 2.39% Converted amount (\$1 base) \$2.03 Price difference (\$1 base) \$1.03 CPI in 1990 57.500 CPI in 2020 116.919 Inflation in 1990 7.48% Inflation in 2020 1.90%

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

## Buying power of \$1 in 1990

This chart shows a calculation of buying power equivalence for \$1 in 1990 (price index tracking began in 1922).

For example, if you started with \$1, you would need to end with \$2.03 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$2.03 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 1990 dollars, the chart below shows how \$1 is worth less over 30 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: 1990-2020
Year Dollar Value Inflation Rate
1990 \$1.00 7.48%
1991 \$1.03 3.13%
1992 \$1.04 1.01%
1993 \$1.06 1.67%
1994 \$1.08 1.97%
1995 \$1.13 4.67%
1996 \$1.16 2.62%
1997 \$1.16 0.30%
1998 \$1.17 0.75%
1999 \$1.19 1.48%
2000 \$1.24 4.53%
2001 \$1.30 4.34%
2002 \$1.34 3.08%
2003 \$1.37 2.73%
2004 \$1.41 2.28%
2005 \$1.44 2.72%
2006 \$1.49 3.49%
2007 \$1.53 2.33%
2008 \$1.60 4.44%
2009 \$1.62 1.74%
2010 \$1.67 2.89%
2011 \$1.73 3.33%
2012 \$1.76 1.71%
2013 \$1.80 2.48%
2014 \$1.85 2.51%
2015 \$1.87 1.51%
2016 \$1.90 1.30%
2017 \$1.93 1.92%
2018 \$1.96 1.26%
2019 \$2.00 1.90%
2020 \$2.03 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 24 more rows

This conversion table shows various other 1990 amounts in today's dollars, based on the 103.34% change in prices:

Conversion Table: Value of a dollar today
Initial value Equivalent value
\$1 dollar in 1990 \$2.03 dollars today
\$5 dollars in 1990 \$10.17 dollars today
\$10 dollars in 1990 \$20.33 dollars today
\$50 dollars in 1990 \$101.67 dollars today
\$100 dollars in 1990 \$203.34 dollars today
\$500 dollars in 1990 \$1,016.69 dollars today
\$1,000 dollars in 1990 \$2,033.38 dollars today
\$5,000 dollars in 1990 \$10,166.91 dollars today
\$10,000 dollars in 1990 \$20,333.82 dollars today
\$50,000 dollars in 1990 \$101,669.09 dollars today
\$100,000 dollars in 1990 \$203,338.17 dollars today
\$500,000 dollars in 1990 \$1,016,690.86 dollars today
\$1,000,000 dollars in 1990 \$2,033,381.71 dollars today

## How to Calculate Inflation Rate for \$1 since 1990

Our calculations use the following inflation rate formula to calculate the change in value between 1990 and today:

CPI today CPI in 1990
×
1990 AUD value
=
Today's value

Then plug in historical CPI values. The Australian CPI was 57.5 in the year 1990 and 116.91944859999998 in 2020:

116.9194485999999857.5
×
\$1
=
\$2.03

\$1 in 1990 has the same "purchasing power" or "buying power" as \$2.03 in 2020.

To get the total inflation rate for the 30 years between 1990 and 2020, we use the following formula:

CPI in 2020 - CPI in 1990CPI in 1990
×
100
=
Cumulative inflation rate (30 years)

Plugging in the values to this equation, we get:

116.91944859999998 - 57.557.5
×
100
=
103%

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

• Nelson Mandela is released having spent 27 years in South African prison.
• The Hubble Space Telescope takes its first photos from space.
• Dr Penny Jamieson, becomes the first woman to be made an Anglican Bishop, in New Zeeland
• The United States sends troops to Saudi Arabia, marking the beginning of Operation Desert Shield.

## 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 1990 → 2020 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Oct. 2020, https://www.officialdata.org/australia/inflation/1990?amount=1&endYear=2020.

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.