Value of $1 from 2005 to 2012
$1 in 2005 is equivalent in purchasing power to about $1.22 in 2012, an increase of $0.22 over 7 years. The dollar had an average inflation rate of 2.84% per year between 2005 and 2012, producing a cumulative price increase of 21.69%.
This means that prices in 2012 are 1.22 times as high as average prices since 2005, according to the Bureau of Statistics consumer price index.
The inflation rate in 2005 was 2.72%. The inflation rate in 2012 was 1.71%. The 2012 inflation rate is lower compared to the average inflation rate of 2.47% per year between 2012 and 2024.
⌃
| Cumulative price change | 21.69% |
| Average inflation rate | 2.84% |
| Converted amount $1 base | $1.22 |
| Price difference $1 base | $0.22 |
| CPI in 2005 | 83.000 |
| CPI in 2012 | 101.000 |
| Inflation in 2005 | 2.72% |
| Inflation in 2012 | 1.71% |
| $1 in 2005 | $1.22 in 2012 |
Buying power of $1 in 2005
This chart shows a calculation of buying power equivalence for $1 in 2005 (price index tracking began in 1922).
For example, if you started with $1, you would need to end with $1.22 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $1.22 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 2005 dollars, the chart below shows how $1 is worth less over 7 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:
This conversion table shows various other 2005 amounts in 2012 dollars, based on the 21.69% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 2005 | $1.22 dollars in 2012 |
| $5 dollars in 2005 | $6.08 dollars in 2012 |
| $10 dollars in 2005 | $12.17 dollars in 2012 |
| $50 dollars in 2005 | $60.84 dollars in 2012 |
| $100 dollars in 2005 | $121.69 dollars in 2012 |
| $500 dollars in 2005 | $608.43 dollars in 2012 |
| $1,000 dollars in 2005 | $1,216.87 dollars in 2012 |
| $5,000 dollars in 2005 | $6,084.34 dollars in 2012 |
| $10,000 dollars in 2005 | $12,168.67 dollars in 2012 |
| $50,000 dollars in 2005 | $60,843.37 dollars in 2012 |
| $100,000 dollars in 2005 | $121,686.75 dollars in 2012 |
| $500,000 dollars in 2005 | $608,433.73 dollars in 2012 |
| $1,000,000 dollars in 2005 | $1,216,867.47 dollars in 2012 |
How to calculate inflation rate for $1, 2005 to 2012
Our calculations use the following inflation rate formula to calculate the change in value between 2005 and 2012:
CPI in 2012 CPI in 2005
×
2005 AUD value
=
2012 AUD value
Then plug in historical CPI values. The Australian CPI was 83 in the year 2005 and 101 in 2012:
10183
×
$1
=
$1.22
$1 in 2005 has the same "purchasing power" or "buying power" as $1.22 in 2012.
To get the total inflation rate for the 7 years between 2005 and 2012, we use the following formula:
CPI in 2012 - CPI in 2005CPI in 2005
×
100
=
Cumulative inflation rate (7 years)
Plugging in the values to this equation, we get:
101 - 8383
×
100
=
22%
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 2005 → 2012 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 16 Apr. 2024, https://www.officialdata.org/australia/inflation/2005?amount=1&endYear=2012.
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.
| Cumulative price change | 21.69% |
| Average inflation rate | 2.84% |
| Converted amount $1 base | $1.22 |
| Price difference $1 base | $0.22 |
| CPI in 2005 | 83.000 |
| CPI in 2012 | 101.000 |
| Inflation in 2005 | 2.72% |
| Inflation in 2012 | 1.71% |
| $1 in 2005 | $1.22 in 2012 |