# \$1 in 2010 is worth \$1.08 in 2013

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## Value of \$1 from 2010 to 2013

According to the Bureau of Statistics consumer price index, prices in 2013 are 7.70% higher than average prices since 2010. The Australian dollar experienced an average inflation rate of 2.50% per year during this period, causing the real value of a dollar to decrease.

In other words, \$1 in 2010 is equivalent in purchasing power to about \$1.08 in 2013, a difference of \$0.08 over 3 years.

The 2010 inflation rate was 2.89%. The inflation rate in 2013 was 2.48%. The 2013 inflation rate is higher compared to the average inflation rate of 1.76% per year between 2013 and 2020.

 Cumulative price change 7.70% Average inflation rate 2.50% Converted amount (\$1 base) \$1.08 Price difference (\$1 base) \$0.08 CPI in 2010 96.100 CPI in 2013 103.500 Inflation in 2010 2.89% Inflation in 2013 2.48%

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

## Buying power of \$1 in 2010

This chart shows a calculation of buying power equivalence for \$1 in 2010 (price index tracking began in 1922).

For example, if you started with \$1, you would need to end with \$1.08 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.08 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 2010 dollars, the chart below shows how \$1 is worth less over 3 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: 2010-2013
Year Dollar Value Inflation Rate
2010 \$1.00 2.89%
2011 \$1.03 3.33%
2012 \$1.05 1.71%
2013 \$1.08 2.48%
2014 \$1.10 2.51%
2015 \$1.12 1.51%
2016 \$1.14 1.30%
2017 \$1.16 1.92%
2018 \$1.17 1.26%
2019 \$1.19 1.90%
2020 \$1.22 1.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 2010 amounts in 2013 dollars, based on the 7.70% change in prices:

Conversion Table: Value of a dollar in 2013
Initial value Equivalent value
\$1 dollar in 2010 \$1.08 dollars in 2013
\$5 dollars in 2010 \$5.39 dollars in 2013
\$10 dollars in 2010 \$10.77 dollars in 2013
\$50 dollars in 2010 \$53.85 dollars in 2013
\$100 dollars in 2010 \$107.70 dollars in 2013
\$500 dollars in 2010 \$538.50 dollars in 2013
\$1,000 dollars in 2010 \$1,077.00 dollars in 2013
\$5,000 dollars in 2010 \$5,385.02 dollars in 2013
\$10,000 dollars in 2010 \$10,770.03 dollars in 2013
\$50,000 dollars in 2010 \$53,850.16 dollars in 2013
\$100,000 dollars in 2010 \$107,700.31 dollars in 2013
\$500,000 dollars in 2010 \$538,501.56 dollars in 2013
\$1,000,000 dollars in 2010 \$1,077,003.12 dollars in 2013

## How to Calculate Inflation Rate for \$1, 2010 to 2013

Our calculations use the following inflation rate formula to calculate the change in value between 2010 and 2013:

CPI in 2013 CPI in 2010
×
2010 AUD value
=
2013 AUD value

Then plug in historical CPI values. The Australian CPI was 96.1 in the year 2010 and 103.5 in 2013:

103.596.1
×
\$1
=
\$1.08

\$1 in 2010 has the same "purchasing power" or "buying power" as \$1.08 in 2013.

To get the total inflation rate for the 3 years between 2010 and 2013, we use the following formula:

CPI in 2013 - CPI in 2010CPI in 2010
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

103.5 - 96.196.1
×
100
=
8%

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

• The Copiapo mining accident in Chile ends, after 33 miners resurface having spent 69 days trapped in the ruins.
• Big Haiti earthquake kills 230,000 people and leaves most of Port-au-Prince, its capital, in ruins.
• An explosion on the Deepwater Horizon (a drilling rig), kills 11 people and spills a massive amount of oil into the Gulf of Mexico.
• The US army abolishes the "Don't Ask Don't Tell" policy, which had banned homosexuals from openly serving in the US military.

## 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 2010 → 2013 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 30 May. 2020, https://www.officialdata.org/australia/inflation/2010?amount=1&endYear=2013.