Value of 1957 Australian Dollars today

$100 in 1957

$1,598.6 in 2018

The inflation rate in Australia between 1957 and today has been 1,498.6%, which translates into a total increase of $1,498.6. This means that 100 dolars in 1957 are equivalent to 1,598.6 dolars in 2018. In other words, the purchasing power of $100 in 1957 equals $1,598.6 today. The average annual inflation rate has been 4.57%.

Inflation timeline in Australia (1957-2018)

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 (1957-2018) 1,478.87%
Total Inflation* 1,498.6%
Annual inflation avg. (1957-2018) 4.63%
Annual inflation avg.* 4.57%
CPI 1957 6.59
CPI 2018 104.11
CPI today* 105.41
$1 in 1957 $15.79 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 61 years between 1957 and 2018 and the average inflation rate has been 4.5719%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)61 = $1,578.87

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 1957 was 6.59 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/6.59
= $1,578.87

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1957 $15.99 dolars today
$5 dolars in 1957 $79.93 dolars today
$10 dolars in 1957 $159.86 dolars today
$50 dolars in 1957 $799.3 dolars today
$100 dolars in 1957 $1,598.6 dolars today
$500 dolars in 1957 $7,993 dolars today
$1,000 dolars in 1957 $15,985.99 dolars today
$5,000 dolars in 1957 $79,929.97 dolars today
$10,000 dolars in 1957 $159,859.94 dolars today
$50,000 dolars in 1957 $799,299.72 dolars today
$100,000 dolars in 1957 $1,598,599.44 dolars today
$500,000 dolars in 1957 $7,992,997.21 dolars today
$1,000,000 dolars in 1957 $15,985,994.42 dolars today

Value of Dollar in time (by year)

Period Value
1957 100
1958 101.41
1959 102.82
1960 105.63
1961 109.86
1962 109.86
1963 109.86
1964 111.27
1965 115.49
1966 119.72
1967 122.54
1968 126.76
1969 129.58
1970 133.8
1971 140.85
1972 150.7
1973 157.75
1974 177.46
1975 207.04
1976 236.62
1977 270.42
1978 295.77
1979 318.31
1980 350.7
1981 383.1
1982 425.35
1983 473.24
1984 514.08
1985 526.76
1986 570.42
1987 625.35
1988 670.42
1989 721.13
1990 777.46
1991 830.99
1992 843.66
1993 846.48
1994 861.97
1995 884.51
1996 929.58
1997 943.66
1998 940.85
1999 954.93
2000 973.24
2001 1,029.58
2002 1,061.97
2003 1,092.96
2004 1,119.72
2005 1,147.89
2006 1,180.28
2007 1,219.72
2008 1,254.93
2009 1,301.41
2010 1,328.17
2011 1,364.79
2012 1,405.63
2013 1,436.62
2014 1,476.06
2015 1,501.41
2016 1,526.76
2017 1,549.3
2018 1,578.87
Today 1,598.6