Value of 1984 Australian Dollars today

$100 in 1984

$310.96 in 2018

The inflation rate in Australia between 1984 and today has been 210.96%, which translates into a total increase of $210.96. This means that 100 dolars in 1984 are equivalent to 310.96 dolars in 2018. In other words, the purchasing power of $100 in 1984 equals $310.96 today. The average annual inflation rate has been 3.29%.

Inflation timeline in Australia (1984-2018)

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 (1984-2018) 207.12%
Total Inflation* 210.96%
Annual inflation avg. (1984-2018) 3.36%
Annual inflation avg.* 3.29%
CPI 1984 33.9
CPI 2018 104.11
CPI today* 105.41
$1 in 1984 $3.07 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 34 years between 1984 and 2018 and the average inflation rate has been 3.2945%. Therefore, we can resolve the formula like this:

FV = PV (1 + i)n = $100 * (1 + 0.03)34 = $307.12

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 1984 was 33.9 and the CPI today is 105.41. Therefore,

Final value = Initial value *
CPI final/CPI initial
= $100 *
104.11/33.9
= $307.12

Australia inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1984 $3.11 dolars today
$5 dolars in 1984 $15.55 dolars today
$10 dolars in 1984 $31.1 dolars today
$50 dolars in 1984 $155.48 dolars today
$100 dolars in 1984 $310.96 dolars today
$500 dolars in 1984 $1,554.8 dolars today
$1,000 dolars in 1984 $3,109.6 dolars today
$5,000 dolars in 1984 $15,548.02 dolars today
$10,000 dolars in 1984 $31,096.05 dolars today
$50,000 dolars in 1984 $155,480.25 dolars today
$100,000 dolars in 1984 $310,960.49 dolars today
$500,000 dolars in 1984 $1,554,802.46 dolars today
$1,000,000 dolars in 1984 $3,109,604.92 dolars today

Value of Dollar in time (by year)

Period Value
1984 100
1985 102.47
1986 110.96
1987 121.64
1988 130.41
1989 140.27
1990 151.23
1991 161.64
1992 164.11
1993 164.66
1994 167.67
1995 172.05
1996 180.82
1997 183.56
1998 183.01
1999 185.75
2000 189.32
2001 200.27
2002 206.58
2003 212.6
2004 217.81
2005 223.29
2006 229.59
2007 237.26
2008 244.11
2009 253.15
2010 258.36
2011 265.48
2012 273.42
2013 279.45
2014 287.12
2015 292.05
2016 296.99
2017 301.37
2018 307.12
Today 310.96