# Value of 1964 Australian Dollars today

\$100 in 1964

\$1,445.23 in 2019

The inflation rate in Australia between 1964 and today has been 1,345.23%, which translates into a total increase of \$1,345.23. This means that 100 dolars in 1964 are equivalent to 1,445.23 dolars in 2019. In other words, the purchasing power of \$100 in 1964 equals \$1,445.23 today. The average annual inflation rate has been 4.88%.

## Inflation timeline in Australia (1964-2019)

The following chart depicts the equivalence of \$100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1964-2019) 1,344.3%
Total Inflation* 1,345.23%
Annual inflation avg. (1964-2019) 4.97%
Annual inflation avg.* 4.88%
CPI 1964 7.34
CPI 2019 105.97
CPI today* 106.04
\$1 in 1964 \$14.44 in 2019

* 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 55 years between 1964 and 2019 and the average inflation rate has been 4.885%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.05)55 = \$1,444.3

#### 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 1964 was 7.34 and the CPI today is 106.04. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
105.97/7.34
= \$1,444.3

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1964 \$14.45 dolars today
\$5 dolars in 1964 \$72.26 dolars today
\$10 dolars in 1964 \$144.52 dolars today
\$50 dolars in 1964 \$722.62 dolars today
\$100 dolars in 1964 \$1,445.23 dolars today
\$500 dolars in 1964 \$7,226.17 dolars today
\$1,000 dolars in 1964 \$14,452.34 dolars today
\$5,000 dolars in 1964 \$72,261.69 dolars today
\$10,000 dolars in 1964 \$144,523.38 dolars today
\$50,000 dolars in 1964 \$722,616.88 dolars today
\$100,000 dolars in 1964 \$1,445,233.77 dolars today
\$500,000 dolars in 1964 \$7,226,168.83 dolars today
\$1,000,000 dolars in 1964 \$14,452,337.65 dolars today

Period Value
1964 100
1965 103.8
1966 107.59
1967 110.13
1968 113.92
1969 116.46
1970 120.25
1971 126.58
1972 135.44
1973 141.77
1974 159.49
1975 186.08
1976 212.66
1977 243.04
1978 265.82
1979 286.08
1980 315.19
1981 344.3
1982 382.28
1983 425.32
1984 462.03
1985 473.42
1986 512.66
1987 562.03
1988 602.53
1989 648.1
1990 698.73
1991 746.84
1992 758.23
1993 760.76
1994 774.68
1995 794.94
1996 835.44
1997 848.1
1998 845.57
1999 858.23
2000 874.68
2001 925.32
2002 954.43
2003 982.28
2004 1,006.33
2005 1,031.65
2006 1,060.76
2007 1,096.2
2008 1,127.85
2009 1,169.62
2010 1,193.67
2011 1,226.58
2012 1,263.29
2013 1,291.14
2014 1,326.58
2015 1,349.37
2016 1,372.15
2017 1,392.41
2018 1,418.99
2019 1,444.3
Today 1,445.23