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Value of 1977 Australian Dollars today

$100 in 1977
$662.11 in 2022

The inflation rate in Australia between 1977 and today has been 562.11%, which translates into a total increase of $562.11. This means that 100 dollars in 1977 are equivalent to 662.11 dollars in 2022. In other words, the purchasing power of $100 in 1977 equals $662.11 today. The average annual inflation rate between these periods has been 4.29%.

Inflation timeline in Australia (1977 - 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 1977-2021 488.3%
Cumulative inflation 1977-today 562.11%
Avg. Annual inflation 1977-2021 4.11%
CPI 1977 18.85
CPI 2021 110.91
CPI 2022-Q3 (latest official data) 119.25
CPI today 124.83

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 1977 and 2021, use the corresponding CPI values:

Value2021
=Value1977 ×
CPI2021/CPI1977
=$ 100 ×
110.91/18.85
$588.3

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 124.83:

Valuetoday
=Value1977 ×
CPItoday/CPI1977
=$ 100 ×
124.83/18.85
$662.11

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 44 years between 1977 and 2021 and the average inflation rate was 4.1096%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.041096)44
$588.3

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1977 $5.88 dollars in 2021
$5 dollars in 1977 $29.42 dollars in 2021
$10 dollars in 1977 $58.83 dollars in 2021
$50 dollars in 1977 $294.15 dollars in 2021
$100 dollars in 1977 $588.3 dollars in 2021
$500 dollars in 1977 $2,941.5 dollars in 2021
$1,000 dollars in 1977 $5,883.01 dollars in 2021
$5,000 dollars in 1977 $29,415.03 dollars in 2021
$10,000 dollars in 1977 $58,830.07 dollars in 2021
$50,000 dollars in 1977 $294,150.33 dollars in 2021
$100,000 dollars in 1977 $588,300.66 dollars in 2021
$500,000 dollars in 1977 $2,941,503.3 dollars in 2021
$1,000,000 dollars in 1977 $5,883,006.6 dollars in 2021
Cumulative inflation From 1977 562.11%
Avg. annual inflation From 1977 4.29%
CPI 1977 18.85
CPI today 124.83

Value of Dollar over time (by year)

Period Value
1977 100
1978 108
1979 117.86
1980 129.8
1981 142.12
1982 158.25
1983 174.14
1984 181.03
1985 193.23
1986 210.71
1987 228.69
1988 245.2
1989 263.67
1990 283
1991 292
1992 294.95
1993 300.12
1994 306.03
1995 320.2
1996 328.57
1997 329.31
1998 332.14
1999 337.07
2000 352.09
2001 367.61
2002 378.57
2003 388.92
2004 398.03
2005 408.74
2006 423.28
2007 433.13
2008 451.97
2009 459.98
2010 473.4
2011 489.04
2012 497.66
2013 509.85
2014 522.54
2015 530.42
2016 537.19
2017 547.66
2018 558.13
2019 567.12
2020 571.92
2021 588.3
2022-Q3 632.51
Today 662.11

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 |

Other currencies: