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Value of 1972 Australian Dollars today

$6 in 1972
$76.99 in 2024

The inflation rate in Australia between 1972 and today has been 1,183.15%, which translates into a total increase of $70.99. This means that 6 dollars in 1972 are equivalent to 76.99 dollars in 2024. In other words, the purchasing power of $6 in 1972 equals $76.99 today. The average annual inflation rate between these periods has been 5.03%.

Inflation timeline in Australia (1972 - 2024)

The following chart depicts the equivalence of $6 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 1972-2023 1,122.05%
Cumulative inflation 1972-today 1,183.15%
Avg. Annual inflation 1972-2023 5.03%
CPI 1972 10.22
CPI 2023 124.84
CPI 2023-Q4 (latest official data) 126.4
CPI today 131.09

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 1972 and 2023, use the corresponding CPI values:

Value2023
=Value1972 ×
CPI2023/CPI1972
=$ 6 ×
124.84/10.22
$73.32

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 131.09:

Valuetoday
=Value1972 ×
CPItoday/CPI1972
=$ 6 ×
131.09/10.22
$76.99

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 $6 worth today. There are 51 years between 1972 and 2023 and the average inflation rate was 5.0305%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$6 × (1 + 0.050305)51
$73.32

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1972 $12.22 dollars in 2023
$5 dollars in 1972 $61.1 dollars in 2023
$10 dollars in 1972 $122.2 dollars in 2023
$50 dollars in 1972 $611.02 dollars in 2023
$100 dollars in 1972 $1,222.05 dollars in 2023
$500 dollars in 1972 $6,110.23 dollars in 2023
$1,000 dollars in 1972 $12,220.45 dollars in 2023
$5,000 dollars in 1972 $61,102.27 dollars in 2023
$10,000 dollars in 1972 $122,204.54 dollars in 2023
$50,000 dollars in 1972 $611,022.69 dollars in 2023
$100,000 dollars in 1972 $1,222,045.37 dollars in 2023
$500,000 dollars in 1972 $6,110,226.87 dollars in 2023
$1,000,000 dollars in 1972 $12,220,453.74 dollars in 2023
Cumulative inflation From 1972 1,183.15%
Avg. annual inflation From 1972 5.03%
CPI 1972 10.22
CPI today 131.09

Value of Dollar over time (by year)

Period Value
1972 6
1973 6.55
1974 7.55
1975 8.7
1976 9.86
1977 11.07
1978 11.96
1979 13.05
1980 14.37
1981 15.74
1982 17.52
1983 19.28
1984 20.05
1985 21.4
1986 23.33
1987 25.32
1988 27.15
1989 29.2
1990 31.34
1991 32.33
1992 32.66
1993 33.23
1994 33.89
1995 35.45
1996 36.38
1997 36.46
1998 36.78
1999 37.32
2000 38.99
2001 40.7
2002 41.92
2003 43.06
2004 44.07
2005 45.26
2006 46.87
2007 47.96
2008 50.05
2009 50.93
2010 52.42
2011 54.15
2012 55.1
2013 56.45
2014 57.86
2015 58.73
2016 59.48
2017 60.64
2018 61.8
2019 62.8
2020 63.33
2021 65.14
2022 69.44
2023 73.32
2023-Q4 74.24
Today 76.99

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 |

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