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Value of 1979 Australian Dollars today

$100 in 1979
$582.1 in 2024

The inflation rate in Australia between 1979 and today has been 482.1%, which translates into a total increase of $482.1. This means that 100 dollars in 1979 are equivalent to 582.1 dollars in 2024. In other words, the purchasing power of $100 in 1979 equals $582.1 today. The average annual inflation rate between these periods has been 3.99%.

Inflation timeline in Australia (1979 - 2024)

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 1979-2023 461.86%
Cumulative inflation 1979-today 482.1%
Avg. Annual inflation 1979-2023 4%
CPI 1979 22.22
CPI 2023 124.84
CPI 2024-Q1 (latest official data) 127.61
CPI today 129.34

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 1979 and 2023, use the corresponding CPI values:

Value2023
=Value1979 ×
CPI2023/CPI1979
=$ 100 ×
124.84/22.22
$561.86

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.34:

Valuetoday
=Value1979 ×
CPItoday/CPI1979
=$ 100 ×
129.34/22.22
$582.1

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 1979 and 2023 and the average inflation rate was 4.0009%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.040009)44
$561.86

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1979 $5.62 dollars in 2023
$5 dollars in 1979 $28.09 dollars in 2023
$10 dollars in 1979 $56.19 dollars in 2023
$50 dollars in 1979 $280.93 dollars in 2023
$100 dollars in 1979 $561.86 dollars in 2023
$500 dollars in 1979 $2,809.3 dollars in 2023
$1,000 dollars in 1979 $5,618.6 dollars in 2023
$5,000 dollars in 1979 $28,093.01 dollars in 2023
$10,000 dollars in 1979 $56,186.01 dollars in 2023
$50,000 dollars in 1979 $280,930.07 dollars in 2023
$100,000 dollars in 1979 $561,860.14 dollars in 2023
$500,000 dollars in 1979 $2,809,300.69 dollars in 2023
$1,000,000 dollars in 1979 $5,618,601.38 dollars in 2023
Cumulative inflation From 1979 482.1%
Avg. annual inflation From 1979 3.99%
CPI 1979 22.22
CPI today 129.34

Value of Dollar over time (by year)

Period Value
1979 100
1980 110.14
1981 120.59
1982 134.27
1983 147.75
1984 153.61
1985 163.95
1986 178.79
1987 194.04
1988 208.05
1989 223.72
1990 240.13
1991 247.75
1992 250.26
1993 254.65
1994 259.67
1995 271.68
1996 278.79
1997 279.41
1998 281.82
1999 286
2000 298.75
2001 311.91
2002 321.21
2003 329.99
2004 337.72
2005 346.81
2006 359.14
2007 367.5
2008 383.49
2009 390.28
2010 401.67
2011 414.94
2012 422.26
2013 432.6
2014 443.36
2015 450.05
2016 455.8
2017 464.68
2018 473.56
2019 481.19
2020 485.27
2021 499.16
2022 532.08
2023 561.86
2024-Q1 574.29
Today 582.1

All available years

Today's value of australian dollars by year:

1949 | 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 | 2022 | 2023 |

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