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Value of 1953 Australian Dollars today

$100 in 1953
$2,214.91 in 2024

The inflation rate in Australia between 1953 and today has been 2,114.91%, which translates into a total increase of $2,114.91. This means that 100 dollars in 1953 are equivalent to 2,214.91 dollars in 2024. In other words, the purchasing power of $100 in 1953 equals $2,214.91 today. The average annual inflation rate between these periods has been 4.46%.

Inflation timeline in Australia (1953 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing 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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1953-2023 2,000.39%
Cumulative inflation 1953-today 2,114.91%
Avg. Annual inflation 1953-2023 4.45%
CPI 1953 5.94
CPI 2023 124.84
CPI 2024-Q3 (latest official data) 129.19
CPI today 131.65

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 Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1953 and 2023, use the corresponding CPI values:

Value2023
=Value1953 ×
CPI2023/CPI1953
=$ 100 ×
124.84/5.94
$2,100.39

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.65:

Valuetoday
=Value1953 ×
CPItoday/CPI1953
=$ 100 ×
131.65/5.94
$2,214.91

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: 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 70 years between 1953 and 2023 and the average inflation rate was 4.4456%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.044456)70
$2,100.39

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1953 $21 dollars in 2023
$5 dollars in 1953 $105.02 dollars in 2023
$10 dollars in 1953 $210.04 dollars in 2023
$50 dollars in 1953 $1,050.2 dollars in 2023
$100 dollars in 1953 $2,100.39 dollars in 2023
$500 dollars in 1953 $10,501.96 dollars in 2023
$1,000 dollars in 1953 $21,003.91 dollars in 2023
$5,000 dollars in 1953 $105,019.56 dollars in 2023
$10,000 dollars in 1953 $210,039.11 dollars in 2023
$50,000 dollars in 1953 $1,050,195.56 dollars in 2023
$100,000 dollars in 1953 $2,100,391.13 dollars in 2023
$500,000 dollars in 1953 $10,501,955.65 dollars in 2023
$1,000,000 dollars in 1953 $21,003,911.29 dollars in 2023
Cumulative inflation From 1953 2,114.91%
Avg. annual inflation From 1953 4.46%
CPI 1953 5.94
CPI today 131.65

Value of Dollar over time (by year)

Period Value
1953 100
1954 101.56
1955 103.13
1956 108.98
1957 112.11
1958 112.89
1959 115.23
1960 119.53
1961 122.27
1962 121.88
1963 122.66
1964 126.17
1965 130.47
1966 134.77
1967 139.45
1968 142.97
1969 147.66
1970 152.73
1971 162.11
1972 171.88
1973 187.5
1974 216.41
1975 249.22
1976 282.42
1977 317.19
1978 342.58
1979 373.83
1980 411.72
1981 450.78
1982 501.95
1983 552.34
1984 574.22
1985 612.89
1986 668.36
1987 725.39
1988 777.73
1989 836.33
1990 897.66
1991 926.17
1992 935.55
1993 951.95
1994 970.7
1995 1,015.62
1996 1,042.19
1997 1,044.53
1998 1,053.52
1999 1,069.14
2000 1,116.8
2001 1,166.02
2002 1,200.78
2003 1,233.59
2004 1,262.5
2005 1,296.48
2006 1,342.58
2007 1,373.83
2008 1,433.59
2009 1,458.98
2010 1,501.56
2011 1,551.17
2012 1,578.52
2013 1,617.19
2014 1,657.42
2015 1,682.42
2016 1,703.91
2017 1,737.11
2018 1,770.31
2019 1,798.83
2020 1,814.06
2021 1,866.02
2022 1,989.06
2023 2,100.39
2024-Q3 2,173.44
Today 2,214.91

All available years

Today's value of australian dollars by year:

1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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