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Value of 1983 Australian Dollars today

$100 in 1983
$356.07 in 2022

The inflation rate in Australia between 1983 and today has been 256.07%, which translates into a total increase of $256.07. This means that 100 dollars in 1983 are equivalent to 356.07 dollars in 2022. In other words, the purchasing power of $100 in 1983 equals $356.07 today. The average annual inflation rate between these periods has been 3.31%.

Inflation timeline in Australia (1983 - 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 1983-2021 237.84%
Cumulative inflation 1983-today 256.07%
Avg. Annual inflation 1983-2021 3.26%
CPI 1983 32.83
CPI 2021 110.91
CPI 2022-Q1 (latest official data) 115.07
CPI today 116.9

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 1983 and 2021, use the corresponding CPI values:

Value2021
=Value1983 ×
CPI2021/CPI1983
=$ 100 ×
110.91/32.83
$337.84

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 116.9:

Valuetoday
=Value1983 ×
CPItoday/CPI1983
=$ 100 ×
116.9/32.83
$356.07

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 38 years between 1983 and 2021 and the average inflation rate was 3.2555%. Therefore, we can resolve the formula like this:

Value2021
=PV × (1 + i)n
=$100 × (1 + 0.032555)38
$337.84

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1983 $3.38 dollars in 2021
$5 dollars in 1983 $16.89 dollars in 2021
$10 dollars in 1983 $33.78 dollars in 2021
$50 dollars in 1983 $168.92 dollars in 2021
$100 dollars in 1983 $337.84 dollars in 2021
$500 dollars in 1983 $1,689.18 dollars in 2021
$1,000 dollars in 1983 $3,378.36 dollars in 2021
$5,000 dollars in 1983 $16,891.8 dollars in 2021
$10,000 dollars in 1983 $33,783.6 dollars in 2021
$50,000 dollars in 1983 $168,917.99 dollars in 2021
$100,000 dollars in 1983 $337,835.99 dollars in 2021
$500,000 dollars in 1983 $1,689,179.93 dollars in 2021
$1,000,000 dollars in 1983 $3,378,359.86 dollars in 2021
Cumulative inflation From 1983 256.07%
Avg. annual inflation From 1983 3.31%
CPI 1983 32.83
CPI today 116.9

Value of Dollar over time (by year)

Period Value
1983 100
1984 103.96
1985 110.96
1986 121
1987 131.33
1988 140.81
1989 151.41
1990 162.52
1991 167.68
1992 169.38
1993 172.35
1994 175.74
1995 183.88
1996 188.68
1997 189.11
1998 190.74
1999 193.56
2000 202.19
2001 211.1
2002 217.4
2003 223.34
2004 228.57
2005 234.72
2006 243.07
2007 248.73
2008 259.55
2009 264.14
2010 271.85
2011 280.83
2012 285.78
2013 292.79
2014 300.07
2015 304.6
2016 308.49
2017 314.5
2018 320.51
2019 325.67
2020 328.43
2021 337.84
2022-Q1 350.5
Today 356.07

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: