Value of 1962 Australian Dollars today

$100 in 1962

$1,455.14 in 2018

The inflation rate in Australia between 1962 and today has been 1,355.14%, which translates into a total increase of $1,355.14. This means that 100 dolars in 1962 are equivalent to 1,455.14 dolars in 2018. In other words, the purchasing power of $100 in 1962 equals $1,455.14 today. The average annual inflation rate has been 4.81%.

Inflation timeline in Australia (1962-2018)

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 (1962-2018) 1,337.18%
Total Inflation* 1,355.14%
Annual inflation avg. (1962-2018) 4.87%
Annual inflation avg.* 4.81%
CPI 1962 7.24
CPI 2018 104.11
CPI today* 105.41
$1 in 1962 $14.37 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 56 years between 1962 and 2018 and the average inflation rate has been 4.8098%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.05)56 = $1,437.18

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 1962 was 7.24 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/7.24
= $1,437.18

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1962 $14.55 dolars today
$5 dolars in 1962 $72.76 dolars today
$10 dolars in 1962 $145.51 dolars today
$50 dolars in 1962 $727.57 dolars today
$100 dolars in 1962 $1,455.14 dolars today
$500 dolars in 1962 $7,275.68 dolars today
$1,000 dolars in 1962 $14,551.35 dolars today
$5,000 dolars in 1962 $72,756.77 dolars today
$10,000 dolars in 1962 $145,513.55 dolars today
$50,000 dolars in 1962 $727,567.74 dolars today
$100,000 dolars in 1962 $1,455,135.49 dolars today
$500,000 dolars in 1962 $7,275,677.44 dolars today
$1,000,000 dolars in 1962 $14,551,354.88 dolars today

Value of Dollar in time (by year)

Period Value
1962 100
1963 100
1964 101.28
1965 105.13
1966 108.97
1967 111.54
1968 115.38
1969 117.95
1970 121.79
1971 128.21
1972 137.18
1973 143.59
1974 161.54
1975 188.46
1976 215.38
1977 246.15
1978 269.23
1979 289.74
1980 319.23
1981 348.72
1982 387.18
1983 430.77
1984 467.95
1985 479.49
1986 519.23
1987 569.23
1988 610.26
1989 656.41
1990 707.69
1991 756.41
1992 767.95
1993 770.51
1994 784.62
1995 805.13
1996 846.15
1997 858.97
1998 856.41
1999 869.23
2000 885.9
2001 937.18
2002 966.67
2003 994.87
2004 1,019.23
2005 1,044.87
2006 1,074.36
2007 1,110.26
2008 1,142.31
2009 1,184.62
2010 1,208.97
2011 1,242.31
2012 1,279.49
2013 1,307.69
2014 1,343.59
2015 1,366.67
2016 1,389.74
2017 1,410.26
2018 1,437.18
Today 1,455.14