Value of 1953 Australian Dollars today

$100 in 1953

$1,801.6 in 2018

The inflation rate in Australia between 1953 and today has been 1,701.6%, which translates into a total increase of $1,701.6. This means that 100 dolars in 1953 are equivalent to 1,801.6 dolars in 2018. In other words, the purchasing power of $100 in 1953 equals $1,801.6 today. The average annual inflation rate has been 4.48%.

Inflation timeline in Australia (1953-2018)

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 (1953-2018) 1,679.37%
Total Inflation* 1,701.6%
Annual inflation avg. (1953-2018) 4.53%
Annual inflation avg.* 4.48%
CPI 1953 5.85
CPI 2018 104.11
CPI today* 105.41
$1 in 1953 $17.79 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 65 years between 1953 and 2018 and the average inflation rate has been 4.4781%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.04)65 = $1,779.37

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 1953 was 5.85 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/5.85
= $1,779.37

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1953 $18.02 dolars today
$5 dolars in 1953 $90.08 dolars today
$10 dolars in 1953 $180.16 dolars today
$50 dolars in 1953 $900.8 dolars today
$100 dolars in 1953 $1,801.6 dolars today
$500 dolars in 1953 $9,007.98 dolars today
$1,000 dolars in 1953 $18,015.96 dolars today
$5,000 dolars in 1953 $90,079.82 dolars today
$10,000 dolars in 1953 $180,159.63 dolars today
$50,000 dolars in 1953 $900,798.17 dolars today
$100,000 dolars in 1953 $1,801,596.33 dolars today
$500,000 dolars in 1953 $9,007,981.65 dolars today
$1,000,000 dolars in 1953 $18,015,963.31 dolars today

Value of Dollar in time (by year)

Period Value
1953 100
1954 101.59
1955 103.17
1956 106.35
1957 112.7
1958 114.29
1959 115.87
1960 119.05
1961 123.81
1962 123.81
1963 123.81
1964 125.4
1965 130.16
1966 134.92
1967 138.1
1968 142.86
1969 146.03
1970 150.79
1971 158.73
1972 169.84
1973 177.78
1974 200
1975 233.33
1976 266.67
1977 304.76
1978 333.33
1979 358.73
1980 395.24
1981 431.75
1982 479.37
1983 533.33
1984 579.37
1985 593.65
1986 642.86
1987 704.76
1988 755.56
1989 812.7
1990 876.19
1991 936.51
1992 950.79
1993 953.97
1994 971.43
1995 996.83
1996 1,047.62
1997 1,063.49
1998 1,060.32
1999 1,076.19
2000 1,096.83
2001 1,160.32
2002 1,196.83
2003 1,231.75
2004 1,261.9
2005 1,293.65
2006 1,330.16
2007 1,374.6
2008 1,414.29
2009 1,466.67
2010 1,496.83
2011 1,538.1
2012 1,584.13
2013 1,619.05
2014 1,663.49
2015 1,692.06
2016 1,720.63
2017 1,746.03
2018 1,779.37
Today 1,801.6