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Value of 1978 Australian Dollars today

$100 in 1978
$577.16 in 2022

The inflation rate in Australia between 1978 and today has been 477.16%, which translates into a total increase of $477.16. This means that 100 dollars in 1978 are equivalent to 577.16 dollars in 2022. In other words, the purchasing power of $100 in 1978 equals $577.16 today. The average annual inflation rate between these periods has been 4.06%.

Inflation timeline in Australia (1978 - 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 1978-2021 444.7%
Cumulative inflation 1978-today 477.16%
Avg. Annual inflation 1978-2021 4.02%
CPI 1978 20.36
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 117.52

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 1978 and 2021, use the corresponding CPI values:

Value2021
=Value1978 ×
CPI2021/CPI1978
=$ 100 ×
110.91/20.36
$544.7

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 117.52:

Valuetoday
=Value1978 ×
CPItoday/CPI1978
=$ 100 ×
117.52/20.36
$577.16

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 43 years between 1978 and 2021 and the average inflation rate was 4.0207%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.040207)43
$544.7

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1978 $5.45 dollars in 2021
$5 dollars in 1978 $27.23 dollars in 2021
$10 dollars in 1978 $54.47 dollars in 2021
$50 dollars in 1978 $272.35 dollars in 2021
$100 dollars in 1978 $544.7 dollars in 2021
$500 dollars in 1978 $2,723.49 dollars in 2021
$1,000 dollars in 1978 $5,446.98 dollars in 2021
$5,000 dollars in 1978 $27,234.9 dollars in 2021
$10,000 dollars in 1978 $54,469.8 dollars in 2021
$50,000 dollars in 1978 $272,349.01 dollars in 2021
$100,000 dollars in 1978 $544,698.02 dollars in 2021
$500,000 dollars in 1978 $2,723,490.09 dollars in 2021
$1,000,000 dollars in 1978 $5,446,980.19 dollars in 2021
Cumulative inflation From 1978 477.16%
Avg. annual inflation From 1978 4.06%
CPI 1978 20.36
CPI today 117.52

Value of Dollar over time (by year)

Period Value
1978 100
1979 109.12
1980 120.18
1981 131.58
1982 146.52
1983 161.23
1984 167.62
1985 178.91
1986 195.1
1987 211.74
1988 227.02
1989 244.13
1990 262.03
1991 270.35
1992 273.09
1993 277.88
1994 283.35
1995 296.47
1996 304.22
1997 304.9
1998 307.53
1999 312.09
2000 326
2001 340.36
2002 350.51
2003 360.09
2004 368.53
2005 378.45
2006 391.9
2007 401.03
2008 418.47
2009 425.88
2010 438.31
2011 452.79
2012 460.78
2013 472.06
2014 483.81
2015 491.11
2016 497.38
2017 507.07
2018 516.76
2019 525.09
2020 529.53
2021 544.7
2022-Q1 565.11
Today 577.16

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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