$1 in 1995 is worth $1.24 in 2004

Value of $1 from 1995 to 2004

$1 in 1995 is equivalent in purchasing power to about $1.24 in 2004, an increase of $0.24 over 9 years. The dollar had an average inflation rate of 2.45% per year between 1995 and 2004, producing a cumulative price increase of 24.31%.

This means that prices in 2004 are 1.24 times higher than average prices since 1995, according to the Bureau of Statistics consumer price index.

The 1995 inflation rate was 4.67%. The inflation rate in 2004 was 2.28%. The 2004 inflation rate is higher compared to the average inflation rate of 2.25% per year between 2004 and 2021.


Inflation from 1995 to 2004
Cumulative price change 24.31%
Average inflation rate 2.45%
Converted amount ($1 base) $1.24
Price difference ($1 base) $0.24
CPI in 1995 65.000
CPI in 2004 80.800
Inflation in 1995 4.67%
Inflation in 2004 2.28%
$1 in 1995 $1.24 in 2004

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

Buying power of $1 in 1995

This chart shows a calculation of buying power equivalence for $1 in 1995 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $1.24 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.24 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 1995 dollars, the chart below shows how $1 is worth less over 9 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: 1995-2004
Year Dollar Value Inflation Rate
1995 $1.00 4.67%
1996 $1.03 2.62%
1997 $1.03 0.30%
1998 $1.04 0.75%
1999 $1.05 1.48%
2000 $1.10 4.53%
2001 $1.15 4.34%
2002 $1.18 3.08%
2003 $1.22 2.73%
2004 $1.24 2.28%
2005 $1.28 2.72%
2006 $1.32 3.49%
2007 $1.35 2.33%
2008 $1.41 4.44%
2009 $1.44 1.74%
2010 $1.48 2.89%
2011 $1.53 3.33%
2012 $1.55 1.71%
2013 $1.59 2.48%
2014 $1.63 2.51%
2015 $1.66 1.51%
2016 $1.68 1.30%
2017 $1.71 1.92%
2018 $1.74 1.89%
2019 $1.77 1.59%
2020 $1.79 0.87%
2021 $1.81 1.55%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 3 more rows

This conversion table shows various other 1995 amounts in 2004 dollars, based on the 24.31% change in prices:

Conversion: 1995 dollars in 2004
Initial value Equivalent value
$1 dollar in 1995 $1.24 dollars in 2004
$5 dollars in 1995 $6.22 dollars in 2004
$10 dollars in 1995 $12.43 dollars in 2004
$50 dollars in 1995 $62.15 dollars in 2004
$100 dollars in 1995 $124.31 dollars in 2004
$500 dollars in 1995 $621.54 dollars in 2004
$1,000 dollars in 1995 $1,243.08 dollars in 2004
$5,000 dollars in 1995 $6,215.38 dollars in 2004
$10,000 dollars in 1995 $12,430.77 dollars in 2004
$50,000 dollars in 1995 $62,153.85 dollars in 2004
$100,000 dollars in 1995 $124,307.69 dollars in 2004
$500,000 dollars in 1995 $621,538.46 dollars in 2004
$1,000,000 dollars in 1995 $1,243,076.92 dollars in 2004

How to Calculate Inflation Rate for $1, 1995 to 2004

Our calculations use the following inflation rate formula to calculate the change in value between 1995 and 2004:

CPI in 2004 CPI in 1995
×
1995 AUD value
=
2004 AUD value

Then plug in historical CPI values. The Australian CPI was 65 in the year 1995 and 80.8 in 2004:

80.865
×
$1
=
$1.24

$1 in 1995 has the same "purchasing power" or "buying power" as $1.24 in 2004.

To get the total inflation rate for the 9 years between 1995 and 2004, we use the following formula:

CPI in 2004 - CPI in 1995CPI in 1995
×
100
=
Cumulative inflation rate (9 years)

Plugging in the values to this equation, we get:

80.8 - 6565
×
100
=
24%

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 → 2004 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 18 May. 2021, https://www.officialdata.org/australia/inflation/1995?amount=1&endYear=2004.

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 2004
Cumulative price change 24.31%
Average inflation rate 2.45%
Converted amount ($1 base) $1.24
Price difference ($1 base) $0.24
CPI in 1995 65.000
CPI in 2004 80.800
Inflation in 1995 4.67%
Inflation in 2004 2.28%
$1 in 1995 $1.24 in 2004