# Value of 1983 Australian Dollars today

\$100 in 1983

\$348.99 in 2021

The inflation rate in Australia between 1983 and today has been 248.99%, which translates into a total increase of \$248.99. This means that 100 dolars in 1983 are equivalent to 348.99 dolars in 2021. In other words, the purchasing power of \$100 in 1983 equals \$348.99 today. The average annual inflation rate has been 3.26%.

## Inflation timeline in Australia (1983-2021)

The following chart depicts the equivalence of \$100 throughout the years due to 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 obtained by estimating figures from recent trends.

The following table contains relevant indicators:

Indicator Value
Total Inflation (1983-2021) 248.81%
Total Inflation* 248.99%
Annual inflation avg. (1983-2021) 3.34%
Annual inflation avg.* 3.26%
CPI 1983 31.21
CPI 2021 108.85
CPI today* 108.9
\$1 in 1983 \$3.49 in 2021

* 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 with 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 38 years between 1983 and 2021 and the average inflation rate has been 3.2567%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = \$100 * (1 + 0.03)38 = \$348.81

#### 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 1983 was 31.21 and the CPI today is 108.9. Therefore,

Final value = Initial value *
CPI final/CPI initial
= \$100 *
108.85/31.21
= \$348.81

### Australia inflation - Conversion table

Initial Value Equivalent value
\$1 dollar in 1983 \$3.49 dolars today
\$5 dolars in 1983 \$17.45 dolars today
\$10 dolars in 1983 \$34.9 dolars today
\$50 dolars in 1983 \$174.5 dolars today
\$100 dolars in 1983 \$348.99 dolars today
\$500 dolars in 1983 \$1,744.97 dolars today
\$1,000 dolars in 1983 \$3,489.93 dolars today
\$5,000 dolars in 1983 \$17,449.65 dolars today
\$10,000 dolars in 1983 \$34,899.3 dolars today
\$50,000 dolars in 1983 \$174,496.52 dolars today
\$100,000 dolars in 1983 \$348,993.04 dolars today
\$500,000 dolars in 1983 \$1,744,965.21 dolars today
\$1,000,000 dolars in 1983 \$3,489,930.42 dolars today

Period Value
1983 100
1984 108.63
1985 111.31
1986 120.54
1987 132.14
1988 141.67
1989 152.38
1990 164.29
1991 175.6
1992 178.27
1993 178.87
1994 182.14
1995 186.9
1996 196.43
1997 199.4
1998 198.81
1999 201.79
2000 205.65
2001 217.56
2002 224.4
2003 230.95
2004 236.61
2005 242.56
2006 249.4
2007 257.74
2008 265.18
2009 275
2010 280.65
2011 288.39
2012 297.02
2013 303.57
2014 311.9
2015 317.26
2016 322.62
2017 327.38
2018 333.63
2019 339.58
2020 345.83
2021 348.81
Today 348.99