$1 in 1995 is worth $1.03 in 1996

Value of $1 from 1995 to 1996

According to the Bureau of Statistics consumer price index, prices in 1996 are 2.62% higher than average prices since 1995. The Australian dollar experienced an average inflation rate of 2.62% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1995 is equivalent in purchasing power to about $1.03 in 1996.

The 1995 inflation rate was 4.67%. The inflation rate in 1996 was 2.62%. The 1996 inflation rate is higher compared to the average inflation rate of 2.37% per year between 1996 and 2020.


Inflation from 1995 to 1996
Average inflation rate 2.62%
Converted amount ($1 base) $1.03
Price difference ($1 base) $0.03
CPI in 1995 65.000
CPI in 1996 66.700
Inflation in 1995 4.67%
Inflation in 1996 2.62%

AUD Inflation since 1922
Annual Rate, the Bureau of Statistics CPI
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How to Calculate Inflation Rate for $1, 1995 to 1996

Our calculations use the following inflation rate formula to calculate the change in value between 1995 and 1996:

CPI in 1996 CPI in 1995
×
1995 AUD value
=
1996 AUD value

Then plug in historical CPI values. The Australian CPI was 65 in the year 1995 and 66.7 in 1996:

66.765
×
$1
=
$1.03

$1 in 1995 has the same "purchasing power" or "buying power" as $1.03 in 1996.

To get the total inflation rate for the 1 years between 1995 and 1996, we use the following formula:

CPI in 1996 - CPI in 1995CPI in 1995
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

66.7 - 6565
×
100
=
3%

News headlines from 1995

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

  • Bosnian Serbs massacre over 7,000 Bosnian Muslims in Srebrenica.
  • Scientists discover the Hale-Bopp Comet; which later became visible to the naked eye.
  • Signing of the Dayton Agreement in Paris in order to end conflicts between former Yugoslavian republics
  • 170 countries agree to the unconditional and indefinite extending of the Nuclear Non-proliferation Treaty.
  • Austria, Finland and Sweden accede to the European Union.

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 1995 → 1996 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Jul. 2020, https://www.officialdata.org/australia/inflation/1995?amount=1&endYear=1996.

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 1995 to 1996
Average inflation rate 2.62%
Converted amount ($1 base) $1.03
Price difference ($1 base) $0.03
CPI in 1995 65.000
CPI in 1996 66.700
Inflation in 1995 4.67%
Inflation in 1996 2.62%