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Value of 1960 Australian Dollars today

$100 in 1960
$1,756.97 in 2022

The inflation rate in Australia between 1960 and today has been 1,656.97%, which translates into a total increase of $1,656.97. This means that 100 dollars in 1960 are equivalent to 1,756.97 dollars in 2022. In other words, the purchasing power of $100 in 1960 equals $1,756.97 today. The average annual inflation rate between these periods has been 4.73%.

Inflation timeline in Australia (1960 - 2022)

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 1960-2021 1,461.11%
Cumulative inflation 1960-today 1,656.97%
Avg. Annual inflation 1960-2021 4.61%
CPI 1960 7.1
CPI 2021 110.91
CPI 2022-Q3 (latest official data) 119.25
CPI today 124.83

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 1960 and 2021, use the corresponding CPI values:

Value2021
=Value1960 ×
CPI2021/CPI1960
=$ 100 ×
110.91/7.1
$1,561.11

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.83:

Valuetoday
=Value1960 ×
CPItoday/CPI1960
=$ 100 ×
124.83/7.1
$1,756.97

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 61 years between 1960 and 2021 and the average inflation rate was 4.6079%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.046079)61
$1,561.11

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1960 $15.61 dollars in 2021
$5 dollars in 1960 $78.06 dollars in 2021
$10 dollars in 1960 $156.11 dollars in 2021
$50 dollars in 1960 $780.56 dollars in 2021
$100 dollars in 1960 $1,561.11 dollars in 2021
$500 dollars in 1960 $7,805.56 dollars in 2021
$1,000 dollars in 1960 $15,611.12 dollars in 2021
$5,000 dollars in 1960 $78,055.58 dollars in 2021
$10,000 dollars in 1960 $156,111.16 dollars in 2021
$50,000 dollars in 1960 $780,555.81 dollars in 2021
$100,000 dollars in 1960 $1,561,111.62 dollars in 2021
$500,000 dollars in 1960 $7,805,558.09 dollars in 2021
$1,000,000 dollars in 1960 $15,611,116.17 dollars in 2021
Cumulative inflation From 1960 1,656.97%
Avg. annual inflation From 1960 4.73%
CPI 1960 7.1
CPI today 124.83

Value of Dollar over time (by year)

Period Value
1960 100
1961 102.29
1962 101.96
1963 102.61
1964 105.56
1965 109.15
1966 112.75
1967 116.67
1968 119.61
1969 123.53
1970 127.78
1971 135.62
1972 143.79
1973 156.86
1974 181.05
1975 208.5
1976 236.27
1977 265.36
1978 286.6
1979 312.75
1980 344.44
1981 377.12
1982 419.93
1983 462.09
1984 480.39
1985 512.75
1986 559.15
1987 606.86
1988 650.65
1989 699.67
1990 750.98
1991 774.84
1992 782.68
1993 796.41
1994 812.09
1995 849.67
1996 871.9
1997 873.86
1998 881.37
1999 894.44
2000 934.31
2001 975.49
2002 1,004.58
2003 1,032.03
2004 1,056.21
2005 1,084.64
2006 1,123.2
2007 1,149.35
2008 1,199.35
2009 1,220.59
2010 1,256.21
2011 1,297.71
2012 1,320.59
2013 1,352.94
2014 1,386.6
2015 1,407.52
2016 1,425.49
2017 1,453.27
2018 1,481.05
2019 1,504.9
2020 1,517.65
2021 1,561.11
2022-Q3 1,678.43
Today 1,756.97

All available years

Today's value of australian dollars by year:

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 |

Other currencies: