$

Value of 1968 Australian Dollars today

$100 in 1968
$1,542.42 in 2024

The inflation rate in Australia between 1968 and today has been 1,442.42%, which translates into a total increase of $1,442.42. This means that 100 dollars in 1968 are equivalent to 1,542.42 dollars in 2024. In other words, the purchasing power of $100 in 1968 equals $1,542.42 today. The average annual inflation rate between these periods has been 5.01%.

Inflation timeline in Australia (1968 - 2024)

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 1968-2023 1,369.13%
Cumulative inflation 1968-today 1,442.42%
Avg. Annual inflation 1968-2023 5.01%
CPI 1968 8.5
CPI 2023 124.84
CPI 2023-Q4 (latest official data) 126.4
CPI today 131.07

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 1968 and 2023, use the corresponding CPI values:

Value2023
=Value1968 ×
CPI2023/CPI1968
=$ 100 ×
124.84/8.5
$1,469.13

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.07:

Valuetoday
=Value1968 ×
CPItoday/CPI1968
=$ 100 ×
131.07/8.5
$1,542.42

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 55 years between 1968 and 2023 and the average inflation rate was 5.0072%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.050072)55
$1,469.13

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1968 $14.69 dollars in 2023
$5 dollars in 1968 $73.46 dollars in 2023
$10 dollars in 1968 $146.91 dollars in 2023
$50 dollars in 1968 $734.56 dollars in 2023
$100 dollars in 1968 $1,469.13 dollars in 2023
$500 dollars in 1968 $7,345.63 dollars in 2023
$1,000 dollars in 1968 $14,691.26 dollars in 2023
$5,000 dollars in 1968 $73,456.3 dollars in 2023
$10,000 dollars in 1968 $146,912.6 dollars in 2023
$50,000 dollars in 1968 $734,562.99 dollars in 2023
$100,000 dollars in 1968 $1,469,125.99 dollars in 2023
$500,000 dollars in 1968 $7,345,629.94 dollars in 2023
$1,000,000 dollars in 1968 $14,691,259.87 dollars in 2023
Cumulative inflation From 1968 1,442.42%
Avg. annual inflation From 1968 5.01%
CPI 1968 8.5
CPI today 131.07

Value of Dollar over time (by year)

Period Value
1968 100
1969 103.28
1970 106.83
1971 113.39
1972 120.22
1973 131.15
1974 151.37
1975 174.32
1976 197.54
1977 221.86
1978 239.62
1979 261.48
1980 287.98
1981 315.3
1982 351.09
1983 386.34
1984 401.64
1985 428.69
1986 467.49
1987 507.38
1988 543.99
1989 584.97
1990 627.87
1991 647.81
1992 654.37
1993 665.85
1994 678.96
1995 710.38
1996 728.96
1997 730.6
1998 736.89
1999 747.81
2000 781.15
2001 815.57
2002 839.89
2003 862.84
2004 883.06
2005 906.83
2006 939.07
2007 960.93
2008 1,002.73
2009 1,020.49
2010 1,050.27
2011 1,084.97
2012 1,104.1
2013 1,131.15
2014 1,159.29
2015 1,176.78
2016 1,191.8
2017 1,215.03
2018 1,238.25
2019 1,258.2
2020 1,268.85
2021 1,305.19
2022 1,391.26
2023 1,469.13
2023-Q4 1,487.43
Today 1,542.42

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 | 2022 | 2023 |

Other currencies: