Value of 1955 Australian Dollars today

$100 in 1955

$1,746.16 in 2018

The inflation rate in Australia between 1955 and today has been 1,646.16%, which translates into a total increase of $1,646.16. This means that 100 dolars in 1955 are equivalent to 1,746.16 dolars in 2018. In other words, the purchasing power of $100 in 1955 equals $1,746.16 today. The average annual inflation rate has been 4.57%.

Inflation timeline in Australia (1955-2018)

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 (1955-2018) 1,624.62%
Total Inflation* 1,646.16%
Annual inflation avg. (1955-2018) 4.62%
Annual inflation avg.* 4.57%
CPI 1955 6.04
CPI 2018 104.11
CPI today* 105.41
$1 in 1955 $17.25 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 63 years between 1955 and 2018 and the average inflation rate has been 4.5701%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)63 = $1,724.62

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 1955 was 6.04 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/6.04
= $1,724.62

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1955 $17.46 dolars today
$5 dolars in 1955 $87.31 dolars today
$10 dolars in 1955 $174.62 dolars today
$50 dolars in 1955 $873.08 dolars today
$100 dolars in 1955 $1,746.16 dolars today
$500 dolars in 1955 $8,730.81 dolars today
$1,000 dolars in 1955 $17,461.62 dolars today
$5,000 dolars in 1955 $87,308.12 dolars today
$10,000 dolars in 1955 $174,616.23 dolars today
$50,000 dolars in 1955 $873,081.17 dolars today
$100,000 dolars in 1955 $1,746,162.35 dolars today
$500,000 dolars in 1955 $8,730,811.73 dolars today
$1,000,000 dolars in 1955 $17,461,623.45 dolars today

Value of Dollar in time (by year)

Period Value
1955 100
1956 103.08
1957 109.23
1958 110.77
1959 112.31
1960 115.38
1961 120
1962 120
1963 120
1964 121.54
1965 126.15
1966 130.77
1967 133.85
1968 138.46
1969 141.54
1970 146.15
1971 153.85
1972 164.62
1973 172.31
1974 193.85
1975 226.15
1976 258.46
1977 295.38
1978 323.08
1979 347.69
1980 383.08
1981 418.46
1982 464.62
1983 516.92
1984 561.54
1985 575.38
1986 623.08
1987 683.08
1988 732.31
1989 787.69
1990 849.23
1991 907.69
1992 921.54
1993 924.62
1994 941.54
1995 966.15
1996 1,015.38
1997 1,030.77
1998 1,027.69
1999 1,043.08
2000 1,063.08
2001 1,124.62
2002 1,160
2003 1,193.85
2004 1,223.08
2005 1,253.85
2006 1,289.23
2007 1,332.31
2008 1,370.77
2009 1,421.54
2010 1,450.77
2011 1,490.77
2012 1,535.38
2013 1,569.23
2014 1,612.31
2015 1,640
2016 1,667.69
2017 1,692.31
2018 1,724.62
Today 1,746.16