# Value of 1967 Australian Dollars today

\$100 in 1967

\$1,312.27 in 2019

The inflation rate in Australia between 1967 and today has been 1,212.27%, which translates into a total increase of \$1,212.27. This means that 100 dolars in 1967 are equivalent to 1,312.27 dolars in 2019. In other words, the purchasing power of \$100 in 1967 equals \$1,312.27 today. The average annual inflation rate has been 4.98%.

## Inflation timeline in Australia (1967-2019)

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 (1967-2019) 1,211.49%
Total Inflation* 1,212.27%
Annual inflation avg. (1967-2019) 5.07%
Annual inflation avg.* 4.98%
CPI 1967 8.08
CPI 2019 105.97
CPI today* 106.03
\$1 in 1967 \$13.11 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 52 years between 1967 and 2019 and the average inflation rate has been 4.9772%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.05)52 = \$1,311.49

#### 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 1967 was 8.08 and the CPI today is 106.03. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
105.97/8.08
= \$1,311.49

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1967 \$13.12 dolars today
\$5 dolars in 1967 \$65.61 dolars today
\$10 dolars in 1967 \$131.23 dolars today
\$50 dolars in 1967 \$656.14 dolars today
\$100 dolars in 1967 \$1,312.27 dolars today
\$500 dolars in 1967 \$6,561.37 dolars today
\$1,000 dolars in 1967 \$13,122.74 dolars today
\$5,000 dolars in 1967 \$65,613.69 dolars today
\$10,000 dolars in 1967 \$131,227.38 dolars today
\$50,000 dolars in 1967 \$656,136.91 dolars today
\$100,000 dolars in 1967 \$1,312,273.81 dolars today
\$500,000 dolars in 1967 \$6,561,369.05 dolars today
\$1,000,000 dolars in 1967 \$13,122,738.1 dolars today

Period Value
1967 100
1968 103.45
1969 105.75
1970 109.2
1971 114.94
1972 122.99
1973 128.74
1974 144.83
1975 168.97
1976 193.1
1977 220.69
1978 241.38
1979 259.77
1980 286.21
1981 312.64
1982 347.13
1983 386.21
1984 419.54
1985 429.89
1986 465.52
1987 510.34
1988 547.13
1989 588.51
1990 634.48
1991 678.16
1992 688.51
1993 690.8
1994 703.45
1995 721.84
1996 758.62
1997 770.11
1998 767.82
1999 779.31
2000 794.25
2001 840.23
2002 866.67
2003 891.95
2004 913.79
2005 936.78
2006 963.22
2007 995.4
2008 1,024.14
2009 1,062.07
2010 1,083.91
2011 1,113.79
2012 1,147.13
2013 1,172.41
2014 1,204.6
2015 1,225.29
2016 1,245.98
2017 1,264.37
2018 1,288.51
2019 1,311.49
Today 1,312.27