$1 in 2000 is worth $1.13 in 2004

Value of $1 from 2000 to 2004

According to the Bureau of Statistics consumer price index, prices in 2004 are 13.01% higher than average prices since 2000. The Australian dollar experienced an average inflation rate of 3.10% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 2000 is equivalent in purchasing power to about $1.13 in 2004, a difference of $0.13 over 4 years.

The 2000 inflation rate was 4.53%. The inflation rate in 2004 was 2.28%. The 2004 inflation rate is lower compared to the average inflation rate of 2.34% per year between 2004 and 2020.


Inflation from 2000 to 2004
Cumulative price change 13.01%
Average inflation rate 3.10%
Converted amount ($1 base) $1.13
Price difference ($1 base) $0.13
CPI in 2000 71.500
CPI in 2004 80.800
Inflation in 2000 4.53%
Inflation in 2004 2.28%

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

Buying power of $1 in 2000

This chart shows a calculation of buying power equivalence for $1 in 2000 (price index tracking began in 1922).

For example, if you started with $1, you would need to end with $1.13 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.13 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 2000 dollars, the chart below shows how $1 is worth less over 4 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: 2000-2004
Year Dollar Value Inflation Rate
2000 $1.00 4.53%
2001 $1.04 4.34%
2002 $1.08 3.08%
2003 $1.10 2.73%
2004 $1.13 2.28%
2005 $1.16 2.72%
2006 $1.20 3.49%
2007 $1.23 2.33%
2008 $1.28 4.44%
2009 $1.31 1.74%
2010 $1.34 2.89%
2011 $1.39 3.33%
2012 $1.41 1.71%
2013 $1.45 2.48%
2014 $1.48 2.51%
2015 $1.51 1.51%
2016 $1.53 1.30%
2017 $1.56 1.92%
2018 $1.57 1.26%
2019 $1.60 1.90%
2020 $1.64 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2000 amounts in 2004 dollars, based on the 13.01% change in prices:

Conversion Table: Value of a dollar in 2004
Initial value Equivalent value
$1 dollar in 2000 $1.13 dollars in 2004
$5 dollars in 2000 $5.65 dollars in 2004
$10 dollars in 2000 $11.30 dollars in 2004
$50 dollars in 2000 $56.50 dollars in 2004
$100 dollars in 2000 $113.01 dollars in 2004
$500 dollars in 2000 $565.03 dollars in 2004
$1,000 dollars in 2000 $1,130.07 dollars in 2004
$5,000 dollars in 2000 $5,650.35 dollars in 2004
$10,000 dollars in 2000 $11,300.70 dollars in 2004
$50,000 dollars in 2000 $56,503.50 dollars in 2004
$100,000 dollars in 2000 $113,006.99 dollars in 2004
$500,000 dollars in 2000 $565,034.97 dollars in 2004
$1,000,000 dollars in 2000 $1,130,069.93 dollars in 2004

How to Calculate Inflation Rate for $1, 2000 to 2004

Our calculations use the following inflation rate formula to calculate the change in value between 2000 and 2004:

CPI in 2004 CPI in 2000
×
2000 AUD value
=
2004 AUD value

Then plug in historical CPI values. The Australian CPI was 71.5 in the year 2000 and 80.8 in 2004:

80.871.5
×
$1
=
$1.13

$1 in 2000 has the same "purchasing power" or "buying power" as $1.13 in 2004.

To get the total inflation rate for the 4 years between 2000 and 2004, we use the following formula:

CPI in 2004 - CPI in 2000CPI in 2000
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

80.8 - 71.571.5
×
100
=
13%

News headlines from 2000

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

  • Steve Ballmer becomes CEO of Microsoft after Bill Gates steps down.
  • Dot-com bubble bursts after NASDAQ Composite stock market index peaks.
  • George Bush becomes President of the U.S. in a disputed election that is eventually resolved by the Supreme Court.
  • Gisborne, New Zealand becomes the first city to enter the new millennium.

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 2000 → 2004 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Sep. 2020, https://www.officialdata.org/australia/inflation/2000?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 2000 to 2004
Cumulative price change 13.01%
Average inflation rate 3.10%
Converted amount ($1 base) $1.13
Price difference ($1 base) $0.13
CPI in 2000 71.500
CPI in 2004 80.800
Inflation in 2000 4.53%
Inflation in 2004 2.28%