Value of 1951 Australian Dollars today

$100 in 1951

$2,467.4 in 2018

The inflation rate in Australia between 1951 and today has been 2,367.4%, which translates into a total increase of $2,367.4. This means that 100 dolars in 1951 are equivalent to 2,467.4 dolars in 2018. In other words, the purchasing power of $100 in 1951 equals $2,467.4 today. The average annual inflation rate has been 4.83%.

Inflation timeline in Australia (1951-2018)

The following chart ilustrates the equivalence of $100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (AUD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1951-2018) 2,336.96%
Total Inflation* 2,367.4%
Annual inflation avg. (1951-2018) 4.88%
Annual inflation avg.* 4.83%
CPI 1951 4.27
CPI 2018 104.11
CPI today* 105.41
$1 in 1951 $24.37 in 2018

* Values extrapolated from the last official data to obtain today's values.

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.

Using the compound interest formula

Given that money changes in time as a result of an inflation rate that acts as a compound interest, the following formula can be used: FV = PV (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 67 years between 1951 and 2018 and the average inflation rate has been 4.8272%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)67 = $2,436.96

Using the CPI formula

When the CPI for both start and end years is known, the following formula can be used:

Final value = Initial value *
CPI final/CPI initial

In this case, the CPI in 1951 was 4.27 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/4.27
= $2,436.96

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1951 $24.67 dolars today
$5 dolars in 1951 $123.37 dolars today
$10 dolars in 1951 $246.74 dolars today
$50 dolars in 1951 $1,233.7 dolars today
$100 dolars in 1951 $2,467.4 dolars today
$500 dolars in 1951 $12,337.02 dolars today
$1,000 dolars in 1951 $24,674.04 dolars today
$5,000 dolars in 1951 $123,370.18 dolars today
$10,000 dolars in 1951 $246,740.36 dolars today
$50,000 dolars in 1951 $1,233,701.81 dolars today
$100,000 dolars in 1951 $2,467,403.62 dolars today
$500,000 dolars in 1951 $12,337,018.12 dolars today
$1,000,000 dolars in 1951 $24,674,036.25 dolars today

Value of Dollar in time (by year)

Period Value
1951 100
1952 123.91
1953 136.96
1954 139.13
1955 141.3
1956 145.65
1957 154.35
1958 156.52
1959 158.7
1960 163.04
1961 169.57
1962 169.57
1963 169.57
1964 171.74
1965 178.26
1966 184.78
1967 189.13
1968 195.65
1969 200
1970 206.52
1971 217.39
1972 232.61
1973 243.48
1974 273.91
1975 319.57
1976 365.22
1977 417.39
1978 456.52
1979 491.3
1980 541.3
1981 591.3
1982 656.52
1983 730.43
1984 793.48
1985 813.04
1986 880.43
1987 965.22
1988 1,034.78
1989 1,113.04
1990 1,200
1991 1,282.61
1992 1,302.17
1993 1,306.52
1994 1,330.43
1995 1,365.22
1996 1,434.78
1997 1,456.52
1998 1,452.17
1999 1,473.91
2000 1,502.17
2001 1,589.13
2002 1,639.13
2003 1,686.96
2004 1,728.26
2005 1,771.74
2006 1,821.74
2007 1,882.61
2008 1,936.96
2009 2,008.7
2010 2,050
2011 2,106.52
2012 2,169.57
2013 2,217.39
2014 2,278.26
2015 2,317.39
2016 2,356.52
2017 2,391.31
2018 2,436.96
Today 2,467.4