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Value of 1962 Australian Dollars today

$100 in 1962
$1,621.24 in 2022

The inflation rate in Australia between 1962 and today has been 1,521.24%, which translates into a total increase of $1,521.24. This means that 100 dollars in 1962 are equivalent to 1,621.24 dollars in 2022. In other words, the purchasing power of $100 in 1962 equals $1,621.24 today. The average annual inflation rate between these periods has been 4.75%.

Inflation timeline in Australia (1962 - 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 1962-2021 1,431.09%
Cumulative inflation 1962-today 1,521.24%
Avg. Annual inflation 1962-2021 4.73%
CPI 1962 7.24
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 117.44

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 1962 and 2021, use the corresponding CPI values:

Value2021
=Value1962 ×
CPI2021/CPI1962
=$ 100 ×
110.91/7.24
$1,531.09

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 117.44:

Valuetoday
=Value1962 ×
CPItoday/CPI1962
=$ 100 ×
117.44/7.24
$1,621.24

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 59 years between 1962 and 2021 and the average inflation rate was 4.7333%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.047333)59
$1,531.09

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1962 $15.31 dollars in 2021
$5 dollars in 1962 $76.55 dollars in 2021
$10 dollars in 1962 $153.11 dollars in 2021
$50 dollars in 1962 $765.55 dollars in 2021
$100 dollars in 1962 $1,531.09 dollars in 2021
$500 dollars in 1962 $7,655.45 dollars in 2021
$1,000 dollars in 1962 $15,310.9 dollars in 2021
$5,000 dollars in 1962 $76,554.51 dollars in 2021
$10,000 dollars in 1962 $153,109.03 dollars in 2021
$50,000 dollars in 1962 $765,545.13 dollars in 2021
$100,000 dollars in 1962 $1,531,090.26 dollars in 2021
$500,000 dollars in 1962 $7,655,451.3 dollars in 2021
$1,000,000 dollars in 1962 $15,310,902.61 dollars in 2021
Cumulative inflation From 1962 1,521.24%
Avg. annual inflation From 1962 4.75%
CPI 1962 7.24
CPI today 117.44

Value of Dollar over time (by year)

Period Value
1962 100
1963 100.64
1964 103.53
1965 107.05
1966 110.58
1967 114.42
1968 117.31
1969 121.15
1970 125.32
1971 133.01
1972 141.03
1973 153.85
1974 177.56
1975 204.49
1976 231.73
1977 260.26
1978 281.09
1979 306.73
1980 337.82
1981 369.87
1982 411.86
1983 453.21
1984 471.15
1985 502.88
1986 548.4
1987 595.19
1988 638.14
1989 686.22
1990 736.54
1991 759.94
1992 767.63
1993 781.09
1994 796.47
1995 833.33
1996 855.13
1997 857.05
1998 864.42
1999 877.24
2000 916.35
2001 956.73
2002 985.26
2003 1,012.18
2004 1,035.9
2005 1,063.78
2006 1,101.6
2007 1,127.24
2008 1,176.28
2009 1,197.12
2010 1,232.05
2011 1,272.76
2012 1,295.19
2013 1,326.92
2014 1,359.94
2015 1,380.45
2016 1,398.08
2017 1,425.32
2018 1,452.56
2019 1,475.96
2020 1,488.46
2021 1,531.09
2022-Q1 1,588.46
Today 1,621.24

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 |

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