# Value of 1976 Australian Dollars today

\$100 in 1976

\$679.6 in 2019

The inflation rate in Australia between 1976 and today has been 579.6%, which translates into a total increase of \$579.6. This means that 100 dolars in 1976 are equivalent to 679.6 dolars in 2019. In other words, the purchasing power of \$100 in 1976 equals \$679.6 today. The average annual inflation rate has been 4.45%.

## Inflation timeline in Australia (1976-2019)

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 (1976-2019) 579.17%
Total Inflation* 579.6%
Annual inflation avg. (1976-2019) 4.56%
Annual inflation avg.* 4.45%
CPI 1976 15.6
CPI 2019 105.97
CPI today* 106.04
\$1 in 1976 \$6.79 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 43 years between 1976 and 2019 and the average inflation rate has been 4.4516%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.04)43 = \$679.17

#### 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 1976 was 15.6 and the CPI today is 106.04. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
105.97/15.6
= \$679.17

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1976 \$6.8 dolars today
\$5 dolars in 1976 \$33.98 dolars today
\$10 dolars in 1976 \$67.96 dolars today
\$50 dolars in 1976 \$339.8 dolars today
\$100 dolars in 1976 \$679.6 dolars today
\$500 dolars in 1976 \$3,398.02 dolars today
\$1,000 dolars in 1976 \$6,796.04 dolars today
\$5,000 dolars in 1976 \$33,980.2 dolars today
\$10,000 dolars in 1976 \$67,960.39 dolars today
\$50,000 dolars in 1976 \$339,801.96 dolars today
\$100,000 dolars in 1976 \$679,603.92 dolars today
\$500,000 dolars in 1976 \$3,398,019.59 dolars today
\$1,000,000 dolars in 1976 \$6,796,039.19 dolars today

Period Value
1976 100
1977 114.29
1978 125
1979 134.52
1980 148.21
1981 161.9
1982 179.76
1983 200
1984 217.26
1985 222.62
1986 241.07
1987 264.29
1988 283.33
1989 304.76
1990 328.57
1991 351.19
1992 356.55
1993 357.74
1994 364.29
1995 373.81
1996 392.86
1997 398.81
1998 397.62
1999 403.57
2000 411.31
2001 435.12
2002 448.81
2003 461.9
2004 473.21
2005 485.12
2006 498.81
2007 515.48
2008 530.36
2009 550
2010 561.31
2011 576.79
2012 594.05
2013 607.14
2014 623.81
2015 634.52
2016 645.24
2017 654.76
2018 667.26
2019 679.17
Today 679.6