Value of 1977 Australian Dollars today

$100 in 1977

$591.15 in 2018

The inflation rate in Australia between 1977 and today has been 491.15%, which translates into a total increase of $491.15. This means that 100 dolars in 1977 are equivalent to 591.15 dolars in 2018. In other words, the purchasing power of $100 in 1977 equals $591.15 today. The average annual inflation rate has been 4.32%.

Inflation timeline in Australia (1977-2018)

The following chart ilustrates the equivalence of $100 throughout the years due to inflation and CPI changes. All values are equivalent in terms of purchashing 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 (1977-2018) 483.85%
Total Inflation* 491.15%
Annual inflation avg. (1977-2018) 4.4%
Annual inflation avg.* 4.32%
CPI 1977 17.83
CPI 2018 104.11
CPI today* 105.41
$1 in 1977 $5.84 in 2018

* 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 41 years between 1977 and 2018 and the average inflation rate has been 4.3215%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.04)41 = $583.85

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 1977 was 17.83 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/17.83
= $583.85

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1977 $5.91 dolars today
$5 dolars in 1977 $29.56 dolars today
$10 dolars in 1977 $59.11 dolars today
$50 dolars in 1977 $295.57 dolars today
$100 dolars in 1977 $591.15 dolars today
$500 dolars in 1977 $2,955.74 dolars today
$1,000 dolars in 1977 $5,911.49 dolars today
$5,000 dolars in 1977 $29,557.43 dolars today
$10,000 dolars in 1977 $59,114.87 dolars today
$50,000 dolars in 1977 $295,574.33 dolars today
$100,000 dolars in 1977 $591,148.67 dolars today
$500,000 dolars in 1977 $2,955,743.35 dolars today
$1,000,000 dolars in 1977 $5,911,486.7 dolars today

Value of Dollar in time (by year)

Period Value
1977 100
1978 109.37
1979 117.71
1980 129.69
1981 141.67
1982 157.29
1983 175
1984 190.1
1985 194.79
1986 210.94
1987 231.25
1988 247.92
1989 266.67
1990 287.5
1991 307.29
1992 311.98
1993 313.02
1994 318.75
1995 327.08
1996 343.75
1997 348.96
1998 347.92
1999 353.12
2000 359.9
2001 380.73
2002 392.71
2003 404.17
2004 414.06
2005 424.48
2006 436.46
2007 451.04
2008 464.06
2009 481.25
2010 491.15
2011 504.69
2012 519.79
2013 531.25
2014 545.83
2015 555.21
2016 564.58
2017 572.92
2018 583.85
Today 591.15