Value of 1958 Australian Dollars today

$100 in 1958

$1,576.4 in 2018

The inflation rate in Australia between 1958 and today has been 1,476.4%, which translates into a total increase of $1,476.4. This means that 100 dolars in 1958 are equivalent to 1,576.4 dolars in 2018. In other words, the purchasing power of $100 in 1958 equals $1,576.4 today. The average annual inflation rate has been 4.62%.

Inflation timeline in Australia (1958-2018)

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 (1958-2018) 1,456.94%
Total Inflation* 1,476.4%
Annual inflation avg. (1958-2018) 4.68%
Annual inflation avg.* 4.62%
CPI 1958 6.69
CPI 2018 104.11
CPI today* 105.41
$1 in 1958 $15.57 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 60 years between 1958 and 2018 and the average inflation rate has been 4.6246%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)60 = $1,556.94

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 1958 was 6.69 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/6.69
= $1,556.94

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1958 $15.76 dolars today
$5 dolars in 1958 $78.82 dolars today
$10 dolars in 1958 $157.64 dolars today
$50 dolars in 1958 $788.2 dolars today
$100 dolars in 1958 $1,576.4 dolars today
$500 dolars in 1958 $7,881.98 dolars today
$1,000 dolars in 1958 $15,763.97 dolars today
$5,000 dolars in 1958 $78,819.83 dolars today
$10,000 dolars in 1958 $157,639.67 dolars today
$50,000 dolars in 1958 $788,198.34 dolars today
$100,000 dolars in 1958 $1,576,396.69 dolars today
$500,000 dolars in 1958 $7,881,983.44 dolars today
$1,000,000 dolars in 1958 $15,763,966.89 dolars today

Value of Dollar in time (by year)

Period Value
1958 100
1959 101.39
1960 104.17
1961 108.33
1962 108.33
1963 108.33
1964 109.72
1965 113.89
1966 118.06
1967 120.83
1968 125
1969 127.78
1970 131.94
1971 138.89
1972 148.61
1973 155.56
1974 175
1975 204.17
1976 233.33
1977 266.67
1978 291.67
1979 313.89
1980 345.83
1981 377.78
1982 419.44
1983 466.67
1984 506.94
1985 519.44
1986 562.5
1987 616.67
1988 661.11
1989 711.11
1990 766.67
1991 819.44
1992 831.94
1993 834.72
1994 850
1995 872.22
1996 916.67
1997 930.56
1998 927.78
1999 941.67
2000 959.72
2001 1,015.28
2002 1,047.22
2003 1,077.78
2004 1,104.17
2005 1,131.94
2006 1,163.89
2007 1,202.78
2008 1,237.5
2009 1,283.33
2010 1,309.72
2011 1,345.83
2012 1,386.11
2013 1,416.67
2014 1,455.56
2015 1,480.56
2016 1,505.56
2017 1,527.78
2018 1,556.94
Today 1,576.4