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Value of 1974 Australian Dollars today

$100 in 1974
$907.93 in 2022

The inflation rate in Australia between 1974 and today has been 807.93%, which translates into a total increase of $807.93. This means that 100 dollars in 1974 are equivalent to 907.93 dollars in 2022. In other words, the purchasing power of $100 in 1974 equals $907.93 today. The average annual inflation rate between these periods has been 4.7%.

Inflation timeline in Australia (1974 - 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 1974-2021 762.27%
Cumulative inflation 1974-today 807.93%
Avg. Annual inflation 1974-2021 4.69%
CPI 1974 12.86
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 116.79

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 1974 and 2021, use the corresponding CPI values:

Value2021
=Value1974 ×
CPI2021/CPI1974
=$ 100 ×
110.91/12.86
$862.27

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.79:

Valuetoday
=Value1974 ×
CPItoday/CPI1974
=$ 100 ×
116.79/12.86
$907.93

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 47 years between 1974 and 2021 and the average inflation rate was 4.6905%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.046905)47
$862.27

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1974 $8.62 dollars in 2021
$5 dollars in 1974 $43.11 dollars in 2021
$10 dollars in 1974 $86.23 dollars in 2021
$50 dollars in 1974 $431.14 dollars in 2021
$100 dollars in 1974 $862.27 dollars in 2021
$500 dollars in 1974 $4,311.37 dollars in 2021
$1,000 dollars in 1974 $8,622.75 dollars in 2021
$5,000 dollars in 1974 $43,113.74 dollars in 2021
$10,000 dollars in 1974 $86,227.47 dollars in 2021
$50,000 dollars in 1974 $431,137.36 dollars in 2021
$100,000 dollars in 1974 $862,274.72 dollars in 2021
$500,000 dollars in 1974 $4,311,373.59 dollars in 2021
$1,000,000 dollars in 1974 $8,622,747.18 dollars in 2021
Cumulative inflation From 1974 807.93%
Avg. annual inflation From 1974 4.7%
CPI 1974 12.86
CPI today 116.79

Value of Dollar over time (by year)

Period Value
1974 100
1975 115.16
1976 130.51
1977 146.57
1978 158.3
1979 172.74
1980 190.25
1981 208.3
1982 231.95
1983 255.23
1984 265.34
1985 283.21
1986 308.84
1987 335.2
1988 359.39
1989 386.46
1990 414.8
1991 427.98
1992 432.31
1993 439.89
1994 448.56
1995 469.31
1996 481.59
1997 482.67
1998 486.82
1999 494.04
2000 516.07
2001 538.81
2002 554.87
2003 570.04
2004 583.39
2005 599.1
2006 620.4
2007 634.84
2008 662.45
2009 674.19
2010 693.86
2011 716.79
2012 729.42
2013 747.29
2014 765.88
2015 777.44
2016 787.36
2017 802.71
2018 818.05
2019 831.23
2020 838.27
2021 862.27
2022-Q1 894.58
Today 907.93

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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